Strong rally in MF NAVs as mkts surge

It was a strong rally in equity diversified NAVs, which closed higher with advance:decline ratio of 216:1 as markets ended on a stronger note. Main drivers for today's session were power, FMCG, metal, capital goods, banking and oil stocks. Sensex closed with a gain of 254.16 points or 1.84% at 14,104.20. Nifty Fifty surged 80.6 points or 1.94% to settle at 4240.10.

On the sectoral front, banking, FMCG, pharma and technology funds advanced while auto funds ended mixed. BSE FMCG, Bankex, IT and Healthcare indices were up by 4.35%, 3.12%, 1.89% and 0.71%, respectively. However, Auto Index fell 0.96%%.

• Strong rally in equity diversified NAVs
• Banking, FMCG, pharma and technology funds advance
• Auto funds end mixed

Among the equity diversified funds, the top gainers were Lotus India AGILE Fund (G)  up 3.16%, HDFC Infrastructure Fund (G)  up 2.87% and Tata Growth Fund (G) up 2.81%.  The only loser was Escorts High Yield Equity Plan (G)  down  0.64%. 

Among the tax saving funds, the top gainers Lotus India AGILE Tax Fund (G) up 3.00%, Birla Sun Life Tax Relief 96 (G) up 2.71% and  Reliance Equity Linked Saving Fund – Series I (G) up 2.69%.

 Among the sector funds, the top gainers were  Reliance Banking Fund (G)  up 2.90%,  UTI Energy Fund (G) up 2.82% and Lotus India Banking Fund - Retail Plan (G) up 2.69%. The only loser was JM Auto Sector Fund (G) down 0.23%.

Among the balanced funds, the top gainers were  Kotak Dynamic Asset Allocation (G) up 2.42%, Canara Robeco Balance (G)  up 2.23% and  Tata Balanced Fund (G) up 1.89%.  The only loser was Escorts Balanced Fund (G)  down 0.26%.

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