MF NAVs advance higher as markets bounce back

Equity diversified NAVs advanced higher and recovered earlier losses as markets bounced back.

The Sensex closed up 169.21 points or 1.36% at 12624.58, and the Nifty up 57.05 points or 1.57% at 3690.65.

All sectoral funds gained. The BSE Bankex, Healthcare, Auto, FMCG and IT indices rose 0.5%, 0.6%, 0.9%, 1.3% and 2%, respectively.

Long term debt funds ended with negative returns; advance:decline ratio stood at 24:40.

> Equity diversified NAVs advance higher
> All sectoral funds gain
> Long term debt funds end with negative returns

Among the equity diversified funds, the top gainers were DWS Alpha Equity Fund (G) up 1.49%, UTI Opportunities Fund (G) up 1.35% and Pru ICICI Growth Plan (G) up 1.33%. The top losers were ABN AMRO Opportunities Fund (G) down 4.80%, ABN AMRO Dividend Yield Fund (G) down 3.84% and BOB Diversified Fund down 3.15%.

Among the tax saving funds, the top gainers were DWS Tax Saving Fund (G) up 1.38%, Escorts Tax Plan (G) up 1.11% and Tata Tax Advantage Fund - 1 (G) up 0.99%. The top losers were ABN AMRO Tax Advantage Plan (ELSS) (G) down 5.13%, BOB ELSS 96 down 3.14% and HSBC Tax Saver Equity Fund (G) down 2.83%.

Among the sector funds, the top gainers were Franklin Infotech Fund (G) up 1.66%, UTI Petro Fund (G) up 1.63% and UTI Software Fund (G) up 1.59%. The only loser was SBI Magnum Pharma Fund (G) down 0.64%..

Among the balanced funds, the top gainers were Sundaram BNP Paribas Balanced Fund (G) up 1.22%, LIC MF Unit Linked Insurance Scheme up 1.03% and Escorts Balanced Fund (G) up 0.96%. The top losers were Kotak Dynamic Asset Allocation (G) down 4.79%, BOB Balance Fund (G) down 2.90% and BOB Children Fund - Study Plan down 2.64%