Equity MF NAVs advanced as markets gains post RBI policy

Equity Mutual Funds advanced as Equity benchmarks continued to see hefty buying interest for the second consecutive session on Tuesday and managed to recoup all losses (in two days) seen in last Friday’s trade. Indices gained strength in last couple of hours of trade as they discounted the news of no change in policy rates (repo rate and cash reserve ratio) by Reserve Bank of India but before seeing this strong upmove, the Sensex fell 161 points intraday after RBI governor Raghuram Rajan hinted of no rate cuts in current financial year. Performance wise all the Equity funds across categories including sector space excelled registering very few decline. with no decline.

The 30-share BSE Sensex rose 184.85 points to close at 25908.01 and the 50-share NSE Nifty climbed 62.90 points to 7746.55 while the BSE Midcap and Smallcap indices outperformed benchmarks, up 0.8 percent and 1.12 percent, respectively.

On the fixed income front, debt funds, remained under pressure. Ramanathan K, ING Investment Mgmt said, that the perceived hawkish tone of the Credit Policy which indicated a long pause in the rates cycle as against earlier expectations of rate cuts over next 6 months would continue to put pressure on yields in the near-term. The 10-year benchmark yields are expected to trade in the range of 8.55-8.65 percent.

Check out all mutual fund gainers & losers

Here is the day’s performance and the gainers and losers across categories.

Equity diversified: Top gainers

* Sahara Midcap Fund (G) up 1.74%
* Sahara R.E.A.L. Fund (G) up 1.63%
* Sundaram S.M.I.L.E Fund – Regular Plan (G) up 1.46%

Equity diversified: Top losers

* Franklin Asian Equity Fund (G) down 0.41%
* Birla Sun Life International Equity Fund – Plan A (G) down 0.32%
* SBI Infrastructure Fund – Series I (G) down 0.24%

Tax saving funds: Top gainers

* Reliance Tax Saver (ELSS) Fund (G) up 1.25%
* Birla Sun Life Tax Relief 96 (G) up 1.21%
* Birla Sun Life Tax Plan (G) up 1.18%

Tax saving funds: Top losers

* No Losers

Sector funds: Top gainers

* Birla Sun Life MNC Fund (G) up 1.45%
* UTI MNC Fund (G) up 1.33%
* UTI Transportation and Logistics Fund (G) up 0.99%

Sector funds: Top losers

* No Losers

Balanced funds: Top gainers

* UTI CCP Advantage Fund (G) up 0.84%
* L&T Equity and Gold Fund (G) up 0.76%
* Sundaram Balanced Fund – Regular Plan (G) up 0.74%

Balanced funds: Top losers

* Franklin India Pension Plan (G) down 0.20%

Debt funds: Top gainers

* Baroda Pioneer Short Term Bond Fund (G) up 0.28%
* Baroda Pioneer Treasury Advantage Fund – Regular Plan (G) up 0.05%
* Axis Banking Debt Fund (G) up 0.03%

Debt funds: Top losers

* Franklin India Govt. Sec. – Long Term Plan (G) down 0.87%
* Religare Invesco Gilt Fund – Long Duration Plan (G) down 0.86%
* IIFL Dynamic Bond Fund – Regular Plan (G) down 0.86%

 

credit: http://www.moneycontrol.com

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