Equity Mutual Funds advanced as S&P upgrade India's credit outlook to stable from negative helped the equity benchmarks recover in late trade and snapped three-day losing streak on Friday. Indices fell nearly 3 percent in previous three sessions due to Supreme Court's coal verdict, deferral of gas pricing and geopolitical tensions. All the funds belonging to Equity category delivered stable performance with few decline.
Among sectoral funds, Pharma & Healthcare and Banking & Finance Funds ended with positive returns whereas FMCG and Technology Funds decline.
The 30-share BSE Sensex climbed 157.96 points to close at 26626.32 while the 50-share NSE Nifty managed to hold the important support level of 7850, up 57 points at 7968.85, making positive start of October series. However, during the day indices had fallen nearly a percent due to weak global cues.
In the fixed income space, all the funds in debt funds advancedwith no decline as the bonds rallied on Friday, posting their fourth consecutive week of gains, after Standard & Poor's upgraded India's sovereign credit outlook, raising the prospects of greater foreign portfolio investors in bond markets. The 10-year benchmark bond yield ended 5 basis points lower at 8.44 per cent, with volumes of around 373 billion rupees, higher than a recent daily average of 300 billion rupees. It fell 1 bp over the week.
Check out all mutual fund gainers & losers
Here is the day's performance and the gainers and losers across categories.
Equity diversified: Top gainers
* HSBC Progressive Themes Fund (G) up 2.17%
* JM Core 11 Fund (G) up 2.06%
* SBI PSU Fund (G) up 1.91%
Equity diversified: Top losers
* Birla Sun Life Commodity Equities - Global Agri Plan - Retail Plan (G) down 1.52%
* Birla Sun Life International Equity Fund - Plan A (G) down 1.47%
* Mirae Asset Global Commodity Stock Fund - Regular Plan (G) down 0.71%
Tax saving funds: Top gainers
* Religare Invesco AGILE Tax Fund (G) up 1.94%
* Tata Infrastructure Tax Saving Fund (G) up 1.61%
* JM Tax Gain Fund (G) up 1.57%
Tax saving funds: Top losers
* IDBI Equity Advantage Fund - Regular Plan (G) down 0.12%
* Tata Tax Advantage Fund - 1 (G) down 0.46%
* Birla Sun Life Tax Relief 96 (G) down 0.51%
Sector funds: Top gainers
* Religare Invesco Banking Fund - Regular Plan (G) up 2.26%
* Reliance Banking Fund (G) up 2.14%
* Baroda Pioneer PSU Equity Fund (G) up 2.05%
Sector funds: Top losers
* SBI IT Fund (G) down 0.70%
* DSP BlackRock Technology.Com - Regular Plan (G) down 0.41%
* ICICI Prudential Technology Fund (G) down 0.16%
Balanced funds: Top gainers
* Baroda Pioneer Balance Fund (G) up 1.12%
* Canara Robeco Balance (G) up 1.09%
* Escorts Balanced Fund (G) up 1.01%
Balanced funds: Top losers
* Kotak Balance down 1.84%
* Escorts Opportunities Fund (G) down 0.20%
Debt funds: Top gainers
* SBI EDGE Fund (G) up 0.52%
* UTI Gilt Advantage Fund - Long Term Plan (G) up 0.44%
* UTI Gilt Advantage Fund - LTP- PF (G) up 0.44%
Debt funds: Top losers
* No Losers
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