Mutual Funds across categories plunged as the market reversed all its gains on Friday, reacting to the fears that rate cut cycle may get stopped due to rise in CPI inflation. The Sensex shed more than 680 points from day's high. However, the index had climbed 253 points in morning trade today following clearance to Insurance Bill by Rajya Sabha. Performance wise, all the funds in the equity category closed in negative terrain. Even funds in the sector funds were in line with market performance and closed in red.
The 30-share BSE Sensex fell 427.11 points or 1.48 percent to close at 28503.30 and the 50-share NSE Nifty dropped 128.25 points or 1.46 percent to 8647.75. The broader markets plunged too, the BSE Midcap and Smallcap indices were down 1.4 percent and 1.5 percent, respectively. More than two shares declined for every share advancing on the Bombay Stock Exchange.
On the Fixed income front, debt funds too ended with negative returns. The government bond (G-Sec) prices declined on the back of fresh selling pressure from banks and corporates amidst profit-taking by market participants. The 8.40 per cent 10-year benchmark bond maturing in 2024 fell to Rs 103.9450 from Rs 104.4450, while yield went up to 7.80 per cent from 7.72 per cent.
Check out all mutual fund gainers & losers
Here is the day's performance and the gainers and losers across categories.
Equity diversified: Top gainers
* Birla Sun Life International Equity Fund - Plan A (G) up 1.16%
* Birla Sun Life Commodity Equities - Global Agri Plan - Retail Plan (G) up 0.96%
* Franklin Asian Equity Fund (G) up 0.04%
Equity diversified: Top losers
* Sahara Star Value Fund (G) down 2.42%
* Reliance Capital Builder Fund II - Series A (G) down 2.15%
* Birla Sun Life Emerging Leaders Fund - Series 3-Regular Plan (G) down 2.04%
Tax saving funds: Top gainers
* No Gainers
Tax saving funds: Top losers
* Sahara Tax Gain (G) down 1.88%
* Union KBC Tax Saver Scheme (G) down 1.79%
* IDBI RGESS Fund - Series I - Plan A - Regular Plan (G) down 1.79%
Sector funds: Top gainers
* No Gainers
Sector funds: Top losers
* Taurus Banking & Financial Services Fund (G) up 2.02%
* Sahara Banking and Financial Services Fund (G) up 1.81%
* Religare Invesco Banking Fund - Regular Plan (G) up 1.77%
Balanced funds: Top gainers
* No Gainers
Balanced funds: Top losers
* UTI CCP Advantage Fund (G) down 1.37%
* Reliance Regular Savings Fund - Balanced Option (G) down 1.35%
* ICICI Prudential Child Care Plan - Gift Plan down 1.35%
Debt funds: Top gainers
* DWS Arbitrage Fund - Regular Plan (G) up 0.15%
* JPMorgan India Treasury Fund - Regular Plan (G) up 0.06%
* JPMorgan India Treasury Fund - Super Institutional Plan (G) up 0.06%
Debt funds: Top losers
* Motilal Oswal MOSt Focused Long Term Fund - Regular Plan (G) down 1.57%
* SBI EDGE Fund (G) down 0.81%
* ICICI Prudential Long Term Plan (G) down 0.49%
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