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Monday, October 25, 2010

Weekly Scenario: Equity Funds End the Week With Mild Gains

Indian equities witnessed a choppy trend for the second consecutive week. Both the benchmark indexes -Nifty and the Sensex were extremely volatile as quarterly earnings and fund flows to India`s biggest IPO kept investors on their toes. Finally, the markets ended with marginal gains. Sensex and Nifty climbed up 0.20% and 0.06% respectively over the one week period ended 22 October 2010. 

In the major equity fund category, NAV of Equity Diversified Funds surged the most by 0.93%, Tax Savings Funds by 0.90% and Index Funds by 0.31% during the one week period 22 October 2010. Among the sub categories in debt fund, Floating Rate Income Funds - Short Term and Liquid Funds surged up 0.12% each. In the ETF category, Other ETFs gained 0.62% while Gold ETFs declined 3.25%. 

Among the sub categories in the hybrid funds, NAV of Equity Oriented Balanced Fund surged by 0.65%, followed by Debt Oriented Balanced Fund (0.21%), Monthly Income Plans (0.18%) and Arbitrage Funds (0.13%) 

Equity Diversified Funds
 
NAV of Equity Diversified Funds category gained 0.93% in the week ended 22 October 2010 after declining during the previous week end period. Among the schemes in the equity diversified category, Sundaram PSU Opportunities Fund gained the maximum of 3.01%, followed by Religare PSU Equity Fund which climbed 2.52%, Escorts Leading Sectors Fund rose 2.46%, DSP BR Micro-Cap Fund jumped 2.35% among others. JM Multi Strategy Fund and JM Equity Fund were the worst performers in this category declining 0.83% and 0.79% respectively among others. 

Tax Savings Funds 
 
Tax savings Funds category gained 0.90% in the week ended 22 October 2010. All the schemes in this category ended the week as gainers. IDFC Tax Advantage (ELSS) fund and HDFC Long Term Advantage Fund were the top performers with a return of 2.81% and 1.91% respectively during one week period. Among the other schemes in the category, DSP BR Tax Saver Fund rose 1.78%, HDFC Tax Saver Fund climbed 1.61% and Escorts Tax Plan surged 1.61%. Reliance Tax Saver (ELSS) Fund and JM Tax Gainer Fund were the worst performer in this category with low return of 0.02% and 0.08% respectively. 

Index Funds
 
The NAV of Index Fund category advanced by 0.31% over one week period with ICICI Pru Nifty Junior Index Fund and IDBI Nifty Junior Index Fund being the top gainers in this category. Their returns stood at 1.73% and 1.72% respectively over one week time period. LICMF Index Fund - Sensex Advantage Plan was the only loser in this category with a fall in NAV by 0.38%. 

Sector Funds
 
NAV of Pharma Funds category advanced 2.35%, with Reliance Pharma Fund ending the week as the biggest gainer with an increase in NAV by 2.87%; it was followed by UTI-Pharma & Healthcare Fund which gained 2.64%. 

Banking Funds category gained 1.85%, with Reliance Banking Fund gaining 3.18% and Religare Banking Fund gaining 2.61%. JM Financial Services Sector Fund ended at the bottom of the category with a return of 1.02%. 

FMCG Funds category gained 0.27% over one week period ended 22 October 2010. Franklin FMCG Fund and SBI Magnum SFU - FMCG Fund were the gainer in this category. Their NAV appreciated by 0.84% and 0.49% respectively over one week period. 

Infotech Funds category gained 1.41% over one week period ended 22 October 2010. Franklin InfoTech Fund was the top gainer with a return of 1.91%. 


Hybrid Funds
 
Sundaram Balanced Fund and HDFC Balanced Fund were the highest gainer in equity oriented balanced fund category as their NAV appreciated by 1.69% and 1.68% respectively. Axis Triple Advantage Fund, Templeton India Children's Asset - Gift Plan and FT India Balanced Fund were the worst performer in this category declining 0.40%, 0.02% and 0.01% respectively. 

UTI-Retirement Benefit Pension Fund was the highest gainer in debt oriented balanced fund category as its NAV appreciated by 0.59%. UTI-Unit Linked Insurance Plan was the next highest gainer by 0.56%. DWS Money Plus Advantage Fund and LICMF Children's Fund were the worst performers in this category with a fall in return by 0.31% and 0.16% respectively. 

Debt Funds
 
Among the Debt funds, Axis Income Saver gained 0.34%, DWS Gilt Fund added 0.32%, DWS Premier Bond Fund surged 0.22% and Fortis Bond Fund climbed 0.20%. Canara Robeco InDiGo Fund was the worst performer declining by 0.57%, while Birla Sun Life Government Securities - Long Term and Fortis Flexi Debt Fund declined 0.27% and 0.20% respectively.
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