MF NAVs end with negative returns

Equity diversified NAVs continued to remain under pressure and ended lower with negative advance:decline ratio of 4:213 as markets closed deep in the red amid extreme choppiness. Both the benchmark indices --Sensex and Nifty -- slipped below their psychological 9,500 and 2,800 mark respectively. All the sectoral indices closed in the red with realty, banking, metal, capital goods, oil and gas, and power seeing heavy selling pressure.



The Sensex was down 303 points or 3.08% at 9536.33, and the Nifty down 90.20 points or 3.07% at 2848.45.

Among the equity diversified funds, the top gainers were Tata Growing Economies Infrastructure Fund - Plan A (G)
up 2.14%, Franklin Asian Equity Fund (G) up 0.69% and Escorts Growth Plan (G) up 0.39%. The top losers were JM Small & Mid-Cap Fund - Regular Plan (G) down 3.76%, LIC MF Equity Fund (G) down 3.51% and SBI Infrastructure Fund - Series I (G) down .49%.

Among the tax saving funds, the top losers were JM Equity Tax Saver Fund - Series I (G) down 4.05%, JM Tax Gain Fund (G) down 3.38% and Sundaram BNP Paribas Tax Saver (OE) (G) down 3.23%.

Among the sector funds, the top losers were Lotus India Banking Fund - Retail Plan (G) up 3.58%, JM Basic Fund (G) up 3.48% and Sundaram BNP Paribas Select Thematic Energy Opportunities Funds (G) up 3.44%.

Among the balanced funds, the only gainer was Escorts Opportunities Fund (G) up 0.41%. The top losers were Sundaram BNP Paribas Balanced Fund (G) down 2.52%, ING Balanced Portfolio (G) down 2.31% and ICICI Pru Child Care Plan - Gift Plan down 2.14%.