MF NAVs gain smartly as mkts rally

Equity diversified NAVs ended higher with positive advance:decline ratio of 207:6 as markets have rebounded sharply on the back of buying in heavily beaten down sectors like realty, capital goods, power, banking and FMCG. The Sensex has touched an intraday high of 13,509.74 and low of 13,027.79, before ending the day at 13,454, up 359.89 points or 2.75%. The Nifty clawed back above 4000 mark, which hit a high/low of 4033.50 and 3896.40, respectively. It closed at 4016, up 90.25 points or 2.3%.

All sectoral funds advanced sharply. BSE Bankex, Auto, FMCG, IT and Healthcare indices were up 3.06%, 1.62%, 1.08%, 0.74% and 0.38%, respectively. Balanced and tax saving funds also finished with positive returns.

Long term debt funds closed mixed with positive bias; advance:decline ratio stood at 37:34.

• Equity diversified NAVs end higher
• All sectoral funds advance sharply
• Balanced and tax saving funds finish with positive returns
• Long term debt funds close mixed with positive bias

Among the equity diversified funds, the top gainers were JM Contra Fund (G) up 5.34%,  JM HI FI Fund (G) up 4.99% and  Taurus Star Share up 4.77%. The top losers were Birla Sun Life International Equity Fund - Plan A (G)  down  0.72%,  HSBC Emerging Markets Fund (G)  down 0.39% and Franklin Asian Equity Fund (G)  down  0.35%.

Among the tax saving funds, the  top gainers were JM Tax Gain Fund (G) up 5.42%,  Taurus Libra Tax Shield (G) up 3.30% and  Franklin India Tax Shield (G) up 3.10%. 

Among the sector funds, the top gainers  were JM Telecom Sector Fund (G) down 4.52%, JM Basic Fund (G) down 4.37% and UTI Services Industries Fund (G) down 3.82%.

Among the balanced funds, the top gainers were  BOB Balance Fund (G)   up 3.94%, Kotak Dynamic Asset Allocation (G) up 2.99% and LIC MF Balanced Fund - C (G) up 2.72%.

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