Strong Session For MF NAVs As Upmove Continues In Mkts

It was a strong session for equity diversified NAVs, remained in an uptrend. It ended higher with positive advance:decline ratio of 186:4 as it was yet another strong session for the markets despite IT stocks bleeding on account of weak guidance from Infosys. The Sensex was up 155.82 points or 0.84% at 18814.07, and the Nifty up 83.40 points or 1.53% at 5524.85.

On the sectoral front, auto, banking, FMCG and pharma funds advanced while technology funds declined sharply. The BSE Auto, Bankex, FMCG and Healthcare indices gained 2.69%, 1.57%, 1.87% and 1.66%, respectively. The BSE IT Index was down 5.59%.

* Equity diversified NAVs end higher
* Auto, banking, FMCG and pharma funds advance
* Technology funds decline sharply

Among the equity diversified funds, the top gainers were Taurus INFRA-TIPS (G) up 3.39%, Sundaram BNP Paribas Select Focus (G) up 3.00% and Sundaram BNP Paribas Equity Multiplier Fund (G) up 2.79%. The top losers were Birla India Opportunities Fund - Plan B (G) down 1.44%, DBS Chola Global Advantage Fund (G) down 0.27% and SBI Arbitrage Opportunities Fund (G) down 0.04%.

Among the tax saving funds, the top gainers were UTI Long Term Advantage Fund (G) up 2.48%, Sundaram BNP Paribas Tax Saver (OE) (G) up 2.32% and Standard Chartered Tax Saver (ELSS) Fund (G) up 2.26%.

Among the sector funds, the top gainers were JM Auto Sector Fund (G) up 3.17%, JM Basic Fund (G) up 2.56% and Birla Sun Life Basic Industries Fund (G) up 2.40%. The top losers were Reliance Media & Entertainment Fund (G) down 0.40%, SBI Magnum Pharma Fund (G) down 0.65% and Kotak MNC down 0.81%.

Among the balanced funds, the top gainers were Kotak Dynamic Asset Allocation (G) up 2.24%, Escorts Balanced Fund (G) up 1.99% and LIC MF Balanced Fund - C (G) up 1.76%. The only loser was Birla Sun Life 95 Fund (G) down 0.54%.