Fuelled by strong quarterly numbers and robust FII inflows, equity markets crossed yet another milestone last week. The Sensex breached 7,400 mark to close at historic 7,423.25 points, up 2.09 per cent over the week. The Nifty too surged 2.40 per cent and ended the week at 2,265.60 mark. All equity funds' categories enjoyed the rally and posted positive returns.
All bond funds' categories too posted positive returns in the week ended July 22, 2005.
EQUITY FUNDS
The Leaders: FMCG funds performed exceptionally well last week. The three-fund category gained an average 3 per cent, even as the benchmark BSE FMCG index shed 2.03 per cent last week. Among the funds, Prudential ICICI FMCG surged over 4 per cent.
The Laggards: Among equity funds, Pharma funds (up 1.77 per cent) gained the least last week and also underperformed the 1.84 per cent of the benchmark BSE Healthcare index.
Diversified and tax-planning funds: Diversified equity funds gained an average 2.56 per cent, while tax-planning funds added 2.67 per cent last week. Both beat the 2.09 per cent return of the benchmark Sensex.
Top-5 diversified equity funds: Magnum Emerging Businesses (5.10 per cent), Magnum Multiplier Plus (4.19 per cent), Magnum Midcap (4.07 per cent), Taurus Starshare (3.82 per cent), and HDFC Equity (3.65 per cent).
Bottom-5 diversified equity funds: Reliance Regular Savings Equity (0.01 per cent), Taurus Discovery Stock (0.07 per cent), GIC Fortune '94 (0.23 per cent), UTI Mid Cap (0.32 per cent), and Principal Junior Cap (0.40 per cent).
Top-5 tax-planning funds: Libra Taxshield '96 (5.04 per cent), Sahara Tax Gain (4.01 per cent), Canequity-Tax Saver (3.90 per cent), Tata Tax Saving (3.23 per cent), and Alliance Capital Tax Relief '96 (2.96 per cent).
Bottom-5 tax-planning funds: HDFC Taxsaver (1.61 per cent), Escorts Tax Plan (1.62 per cent), HDFC Long Term Advantage (1.78 per cent), Franklin India Taxshield (1.79 per cent), and Birla Equity Plan (1.83 per cent).
Among rest of the equity categories, technology funds gained an average 2.79 per cent to underperform the 3.52 per cent gain of the benchmark BSE IT Index. Petro funds surged an average 2.70 per cent, while auto and banking funds added 2.95 and 2.45 per cent, respectively.
Equity oriented hybrid funds, which normally maintain 60:40 equity, debt ratio, gained 1.88 per cent last week.
BOND FUNDS
Bond funds did well last week. MIPs, which maintain a small exposure to equities, gained an average 0.50 per cent. Medium-term debt funds managed 0.12 per cent, while medium and long-term gilt funds added 0.15 per cent.
Debt short-term (0.09 per cent), floaters (0.10 per cent), ultra short-term (0.10 per cent) and short-term gilt (0.08 per cent) funds too delivered positive returns.
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ask Value Research 
New episodes every Friday 
New Process Alert 
Seems like you've uploaded a wrong QR code. Please upload the QR code downloaded from MF Central platform.
