Indian market ended the short week on a bleak note amid high
volatility. After starting the week on a depressing note, short covering
was seen on Wednesday which pulled the market to mount upto 400 points.
High prices of vegetables and manufactured items drove the headline
inflation in March to 8.98%. The overall inflation measured on the basis
of Wholesale Price Index (WPI) was 8.31% in February.
Among the major categories in equity fund, Mid Cap Funds and Multi Cap
Funds were the gainers by 0.57% and 0.04% respectively over the one week
period ended 15 April 2011. On the other hand, Index Funds, Large Cap
Funds and Tax Savings Funds were the losers by 0.25%, 0.07% and 0.04%
respectively. When we look at the sectoral funds, FMCG Funds gained a
maximum of 2.09%, followed by Pharma Funds by 1.34% and Banking Funds by
0.63%. Infotech Funds was the loser among the sector funds losing by
3.69%.
Among the debt fund categories, Ultra Short Term Funds and Floating Rate
Income Funds – Short Term were gainer by 0.16% each, Floating Rate
Income Funds – Long Term and Short Term Income Funds by 0.15% each,
Liquid Funds by 0.14%, Income Funds by 0.10% and Gilt Funds – Short Term
by 0.05%, while Gilt Funds – Medium & Long Term was loser by 0.15%.
Debt Oriented Balanced Funds surged the highest among the Hybrid Funds
by 0.18%, followed by Equity Oriented Balanced Funds by 0.18%, Monthly
Income Plans by 0.11% and Arbitrage Funds by 0.06%. On the Other hand
Gold ETF's gained 1.19% and Other ETF's by 0.03%.
Mid Cap Funds: Out of 41 funds, 25 bettered the category average.
UTI-Mid Cap Fund was the top performer, which gained by 1.29%, followed
by Canara Robeco Emerging Equities which climbed 1.18% and DSP BR Small
and Mid Cap Fund rose 1.17% among others. SBI Magnum Midcap Fund, BNP
Paribas Mid Cap Fund and HSBC Midcap Equity Fund ended at the bottom of
this category declining by 0.70%, 0.10% and 0.06% respectively.
Multi Cap Funds: Out of 71 funds considered, 28 outperformed the
category average. Escorts Leading Sectors Fund was the top performer,
which gained by 1.25%, followed by Sundaram Rural India Fund which
climbed 0.94% and Birla Sun Life India Reforms Fund rose 0.89% among
others. Tata Select Equity Fund and ICICI Pru Equity Opportunities Fund
ended at the bottom of this category declining by 0.73% and 0.63%
respectively.