Equity Funds closed with positive returns as the 50-share NSE Nifty ended the August series at new closing high on Thursday supported by private banking and financials, capital goods, FMCG and oil & gas stocks. High rollovers to the September series were seen today on hopes of new reforms by the Modi government going ahead. Performance wise, Small & Mid cap funds ended with mixed returns, whereas all other equity domain categories delivered stable performance registering with few decline.
Among the sector space, Banking & Finance and FMCG funds witnessed gain, while Pharma & Healthcare and technology funds ended with negative returns.
The index rose 18.30 points to 7954.35 while the 30-share BSE Sensex climbed 77.96 points to 26638.11 but the broader markets underperformed benchmarks with the BSE Midcap falling 0.3 percent.
After the 3 percent gains in August series, the market is expected to maintain northward journey in September series with continuing resurgence in midcaps, say experts, though they feel the market is overpriced.
In the fixed income space, debt funds maintained steady outlook and closed with positive returns with few decline. The government bonds ended flat on Thursday ahead of critical economic growth data, but posted their biggest monthly gain in three months on the back of strong foreign buying. The 2024 10-year bond yield, which became the benchmark this month, closed steady at 8.56 per cent. It rose 4 bps over the week, snapping a two-week
falling spree.
Check out all mutual fund gainers & losers
Here is the day's performance and the gainers and losers across categories.
Equity diversified: Top gainers
* Sahara Midcap Fund (G) up 1.04%
* Sahara R.E.A.L. Fund (G) up 0.90%
* Sahara Star Value Fund (G) up 0.88%
Equity diversified: Top losers
* Reliance Long Term Equity Fund (G) down 0.67%
* Birla Sun Life Emerging Leaders Fund - Series 2-Regular Plan (G) down 0.58%
* JPMorgan India Mid and Small Cap Fund (G) down 0.51%
Tax saving funds: Top gainers
* Sahara Tax Gain (G) up 0.86%
* Reliance Tax Saver (ELSS) Fund (G) up 0.40%
* Canara Robeco Equity Tax Saver (G) up 0.39%
Tax saving funds: Top losers
* IDFC Tax Advantage (ELSS) Fund - Regular Plan (G) down 0.31%
* IDFC Tax Saver (ELSS) Fund (G) down 0.24%
* ING Tax Saving Fund (G) down 0.15%
Sector funds: Top gainers
* JM Basic Fund (G) up 0.50%
* Religare Invesco PSU Equity Fund (G) up 0.41%
* UTI Energy Fund (G) up 0.39%
Sector funds: Top losers
* Reliance Pharma Fund (G) down 0.67%
* Reliance Media & Entertainment Fund (G) down 0.61%
* SBI Pharma Fund (G) down 0.52%
Balanced funds: Top gainers
* Reliance Regular Savings Fund - Balanced Option (G) up 0.37%
* SBI Magnum Balanced Fund (G) up 0.32%
* Birla Sun Life 95 Fund (G) up 0.21%
Balanced funds: Top losers
* HDFC Balanced Fund (G) down 0.18%
* Escorts Opportunities Fund (G) down 0.18%
* HDFC Prudence Fund (G) down 0.15%
Debt funds: Top gainers
* SBI EDGE Fund (G) up 0.10%
* LIC NOMURA MF Govt. Sec. Fund (G) up 0.09%
* Kotak Gilt Investment Plan - Regular (G) up 0.06%
Debt funds: Top losers
* DWS Gilt Fund - Regular Plan (G) down 0.31%
* JM G-Sec Fund (G) down 0.10%
* Franklin India Govt Sec - Provident Fund (G) down 0.09%
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