Equity NAVs surge as markets end higher

Equity Mutual Funds surge for the second consecutive day as market closed strong on Friday. BSE IT index jumped 2 percent with Infosys, TCS and Wipro as major gainers. However, oil & gas and auto stocks were under selling pressure. Maruti, Reliance, BHEL and Bajaj Auto were laggards. All the funds in the equity domain advanced registering very few decline.

The Sensex was up 118.99 points at 21193.58. The Nifty held 6300 till the end to close at 6313.80 up 34.90 points.

On the Fixed income front, debt funds ended with negative returns as the Government bonds fell for a fifth consecutive session on Friday on continued concerns about potential rate hikes should inflation remain high and about cash tightness should the government cut spending to meet its fiscal deficit target.

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 Midcap Equity Fund (G) up 0.99%
*  Reliance Long Term Equity Fund (G) up 0.85%
*  JPMorgan India Smaller Companies Fund (G) up 0.81%

Equity diversified: Top losers

*  PPFAS Long Term Value Fund - Regular Plan (G) down 0.57%
*  Mirae Asset Global Commodity Stock Fund - Regular Plan (G) down 0.26%
*  Mirae Asset India-China Consumption Fund (G) down 0.10%

Tax saving funds: Top gainers

*  Reliance Tax Saver (ELSS) Fund (G) up 0.91%
*  LIC NOMURA MF Tax Plan (G) up 0.83%
*  Escorts Tax Plan (G) up 0.80%

Tax saving funds: Top losers

*  No Losers

Sector funds: Top gainers

*  Franklin Infotech Fund (G) up 1.75%
*  SBI IT Fund (G) up 1.53
*  UTI Services Industries Fund (G) up 1.30%

Sector funds: Top losers

*  Reliance Diversified Power Sector Fund - Retail Plan (G) down 0.11%

Balanced funds: Top gainers

*  Reliance Regular Savings Fund - Balanced Option (G) up 0.95%
*  Edelweiss Absolute Return Fund (G) up 0.51%
*  L&T Prudence Fund (G) up 0.48%

Balanced funds: Top losers

*  UTI Mahila Unit Scheme (G) down 0.01%

Debt funds: Top gainers

*  ICICI Prudential Regular Savings Fund (G) down 0.05%
*  Sundaram Gilt Fund (G) down 0.04%
*  Religare Invesco Credit Opportunities Fund (G) down 0.03%

Debt funds: Top losers

*  UTI Gilt Advantage Fund - Long Term Plan (G) down 0.08%
*  Reliance Regular Savings Fund - Debt Option (G) down 0.01%

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