MF NAVs bounce back sharply on surge in mkts

Equity diversified NAVs bounced back sharply but the volumes dipped on Friday. MF NAVs ended with positive advance:decline ratio of 168:7, as it was a relief rally in the Indian markets, after fall in last seven consecutive sessions. Short covering in heavyweights and positive global markets lifted the benchmark indices higher. Huge buying was seen in power, oil & gas, capital goods, banking, telecom and technology stocks.
The Sensex shot up 464.20 points or 5.49%, to settle at 8,915.21. The 50-share NSE Nifty shut shop at 2693.45, down 5.50% or 140.30 points over previous close.
All sectoral funds advanced. BSE IT, Bankex, Auto, Healthcare and FMCG indices were up by 4.85%, 4.56%, 2.31%, 1.75% and 1.68%, respectively.
Equity diversified NAVs bounce back sharply
All sectoral funds advance
Check out the mutual fund gainers & losers
Among the equity diversified funds, the top gainers were JM Multi Strategy Fund (G) up 6.81%, Reliance Equity Advantage Fund - Retail Plan (G) up 4.96% and Reliance Quant Plus Fund - Retail Plan (G) up 4.73%. The top losers were Birla Sun Life International Equity Fund - Plan A (G) down 2.72%, Escorts Leading Sectors Fund (G) down 2.05% and Escorts Infrastructure Fund (G) down 1.29%.
Among the tax saving funds, the top gainers were LIC MF Tax Plan (G) up 4.66%, Birla Sun Life Tax Relief 96 (G) up 3.45% and DBS Chola Tax Saver Fund (G) up 3.44%. The only loser was Escorts Tax Plan (G) down 0.21%.
Among the sector funds, the top gainers were UTI Services Industries Fund (G) up 4.53%, JM Telecom Sector Fund (G) up 4.12% and UTI Banking Sector Fund (G) up 3.70%. The only loser was Sahara Banking and Financial Services Fund (G) down 0.09%.
Among the balanced funds, the top gainers were LIC MF Unit Linked Insurance Scheme up 3.69%, Sundaram BNP Paribas Balanced Fund (G) up 3.07% and ING Balanced Portfolio (G) up 2.82%. The top losers were Escorts Opportunities Fund (G) down 1.05% and Escorts Balanced Fund (G) down 0.92%