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Monday, October 18, 2010

Weekly Scenario: Most of the Debt Funds Witness Gain

Indian equities dipped for the second consecutive week due to disappointing IIP numbers, weak global cues and profit booking. Equity funds had felt the heat, as most of the funds witnessed fall in NAV during one week period ended 15 October 2010. On the other hand, debt funds marched upwards as most of the funds witnessed gain during the week ended 15 October 2010. 

In the major equity fund category, NAV of Tax Savings Fund declined the most by 0.84%, followed by Equity Diversified Funds by 0.73% and Index Funds declined marginally by 0.66% during the one week ended 15 October 2010. Among the sub categories in debt fund, Floating Rate Income Funds – Short Term and Liquid Funds surged by 0.12% each. In the ETF category, Gold ETFs gained 2.63% while Other ETFs declined 0.59%. 

Among the sub categories in the hybrid funds, NAV of Arbitrage Funds surged 0.08%, while Monthly Income Plans, Debt Oriented Balanced Funds and Equity Oriented Balanced Funds witnessed fall by 0.09%, 0.17% and 0.54% respectively. 

Debt Funds
 
Among the pure Debt funds, Canara Robeco InDiGo Fund gained 0.71%, L&T Gilt Investment Plan added 0.30%, Birla Sun Life Short Term Opportunities surged 0.19% and UTI-Gilt Advantage Fund – LTP, DWS Premier Bond Fund, Tata Fixed Income Portfolio – Sch – A3 climbed 0.15% each. Axis Income Saver was the worst performer declining by 0.27%, while Templeton India G-Sec Fund - Composite and Templeton India - LTP declined 0.25% and 24% respectively. 

Equity Diversified Funds
 
NAV of Equity Diversified Funds category lost 0.73% during the week ended 15 October 2010 compared with a marginal gain of 0.25% in the previous week end period. Among the schemes in the equity diversified category, Sahara Star Value Fund gained the maximum of 2.68%, followed by Sundaram BNP Paribas Rural India Fund which climbed 1.38%, Fortis China-India Fund rose 1.04% and Reliance Long-Term Equity Fund jumped 0.99% among others. HDFC Capital Builder and Canara Robeco Equity Diversified Fund were the worst performers in this category declining 2.29% and 2% respectively. 

Tax Savings Funds
 
Tax savings Funds category declined by 0.84%, which is lower than their previous week gain of 0.03%. Sahara Tax Gain Fund was the lone gainer in this category, with a weekly gain of 1.04%.HDFC Tax Saver Fund and Axis Tax Saver Fund had faced maximum slide in their NAV. Their NAVs slipped 2.02% and 1.86% respectively. 

Index Funds
 
The NAV Index Fund category declined by 0.66%, moreover the fall was even worse than the previous week loss of 0.58%. LICMF Index Fund - Sensex Advantage Plan ended the week as the lone gainer with a return of 0.05%. HDFC Index Fund-Nifty Plan and IDBI Nifty Junior Index Fund ended at the bottom of the table with a loss of 0.91% and 0.90% respectively. 

Sector Funds
 
NAV of Pharma Funds category declined 0.35%, with Reliance Pharma Fund ending the week as the biggest loser with a fall in NAV by 0.88%; it was followed by Franklin Pharma Fund which lost 0.38%. 

Banking Funds category lost 0.51%, with Reliance Banking Fund advancing by 0.02%. Sundaram BNP Paribas Financial Services Opportunities Fund lost 1.06% and UTI-Banking Sector Fund lost 0.98%. 

FMCG Funds category declined by 1.30% over one week period ended 15 October 2010. SBI Magnum SFU – FMCG Fund was the biggest loser in this category. It's NAV declined by 1.78% over one week period. 

Infotech Funds category gained 0.05% over one week period ended 15 October 2010. Franklin InfoTech Fund gained the highest in this category by 0.52%, followed by SBI Magnum SFU – Infotech Fund by 0.39% and Birla Sun Life New Millennium Fund by 0.28%. While DSP BR Technology. com and ICICI Pru Technology Fund ended the week as losers, witnessing a fall in NAV by 0.73% and 0.22% respectively over one week time period. 

Hybrid Funds
 
Principal Child Benefit Fund-Career Builder and Benchmark Equity & Derivatives Opportunities Fund were the highest gainers in equity oriented balanced fund category as their NAV appreciated by 0.17% and 0.05% respectively. Canara Robeco Balance and JM Balanced Fund were the worst performer in this category declining 1.39% and 1.11% respectively. 

UTI-Mahila Unit Plan was the highest gainer in debt oriented balanced fund category as its NAV appreciated by 0.60%. LICMF Children's Fund was the next highest gainer by 0.18%. Tata Young Citizens Fund and Templeton India Pension Plan were the worst performers in this category with a fall in return by 0.56% and 0.53% respectively.
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