Equity Mutual Funds delivered mixed returns as the Equity benchmarks closed flat on Friday but lost 2 percent during the week weighed down by profit booking in banks, oil & gas and powerafter hefty run-up in previous weeks on account of BJP's landslide win in Lok Sabha election followed new government formation. Funds in the broader market based like Small & Mid Cap, Thematic Infrastructure and ELSS funds ended with mixed returns while Large cap, Index and Diversified Equity Funds lost the most.
Among sectoral funds, FMCG, Technology and Pharma & Healthcare funds ended with positive returns whereas Banking & Finance Funds succumb under market pressure.
The Sensex lost 16.81 points to close at 24217.34 and the Nifty fell 5.70 points to 7229.95 but the broader markets outperformed benchmarks with marginal gains. The BSE Midcap and Smallcap indices gained over 0.3 percent.
Most experts believe the consolidation along with some profit booking may continue for a while (but not for long time) till the market gets next triggers that are RBI policy on June 3, Union Budget FY15 from NDA government and monsoon in the wake of El Nino risks.
Among fixed income funds, long and short term funds advanced registering very few declines. The benchmark 10-year bonds hit an over four-month high on Friday after the RBI governor said the new government's plan to curb food inflation seems sensible and that he expected the public's inflation expectations to fall in the future. The 10-year yield fell as much as 7 basis points to 8.60 per cent, a level last seen on Jan. 22, before closing at 8.64 per cent. On month, the yield fell 19 bps, its biggest monthly fall since December.
Check out all mutual fund gainers & losers
Here is the day's performance and the gainers and losers across categories.
Equity diversified: Top gainers
* Motilal Oswal MOSt Focused Midcap 30 Fund - Regular Plan (G) up 2.54%
* Sundaram Media & Entertainment Opportunities - Retail (G) up 2.30%
* Religare Invesco Infrastructure Fund (G) up 2.15%
Equity diversified: Top losers
* Religare Invesco Equity Fund (G) down 1.25%
* Principal Dividend Yield Fund (G) down 1.25%
* HSBC Progressive Themes Fund (G) down 0.88%
Tax saving funds: Top gainers
* IDFC Tax Advantage (ELSS) Fund (G) up 1.28%
* Religare Invesco AGILE Tax Fund (G) up 0.88%
* Axis Long Term Equity Fund (G) up 0.67%
Tax saving funds: Top losers
* SBI TAX Advantage Fund - Series II (G) down 0.73%
* ING Tax Saving Fund (G) down 0.62%
* SBI TAX Advantage Fund - Series I (G) down 0.57%
Sector funds: Top gainers
* UTI Pharma & Healthcare Fund (G) up 2.57%
* SBI Pharma Fund (G) up 2.14%
* Reliance Pharma Fund (G) up 1.44%
Sector funds: Top losers
* Religare Invesco Banking Fund - Regular Plan (G) down 1.86%
* Baroda Pioneer PSU Equity Fund (G) down 1.74%
* Taurus Banking & Financial Services Fund (G) down 1.65%
Balanced funds: Top gainers
* HDFC Childrens Gift Fund - Investment Plan up 0.57%
* Escorts Balanced Fund (G) up 0.41%
* Templeton (I) Childrens Asset Plan - Gift Plan (G) up 0.41%
Balanced funds: Top losers
* Baroda Pioneer Balance Fund (G) down 0.31%
* JM Balanced Fund (G) down 0.28%
* ING Balanced Portfolio (G) down 0.24%
Debt funds: Top gainers
* Templeton India Govt Sec - Composite Plan (G) up 0.75%
* Templeton India Govt Sec - Provident Fund (G) up 0.75%
* Templeton India Govt. Sec. - Long Term Plan (G) up 0.66%
Debt funds: Top losers
* No Losers
For more Mutual Fund News click here >>
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