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Equity Funds Echo Markets

After the long bull run, the markets ended on a bearish mood in the week to April 13. All equity funds lost some gains made during the recent bull charge

After the long bull run, the markets ended on a bearish mood in the week to April 13.
All equity funds lost some gains made during the recent bull charge. The all-important category of diversified equity and ELSS funds lost 4.14 per cent and 4.12 per cent, respectively, as against the 4.34 per cent loss of the Sensex last week.
Banking funds saw the toughest time on the Street with the category losing 7.64 per cent against the 4.74 per cent fall in BSE Bankex.
There were only one gainer in equity funds category.
Bottom-5 diversified equity funds: Taurus Discovery Stock was the worst hit losing 6.62 per cent followed by Cangrowth Plus (-6.50 per cent), Tata Service Industries (-6.38 per cent), UTI MNC (-6.10 per cent) and ING Vysya A.T.M. (-5.93 per cent).
Deutsche Alpha Equity was the most resilient fund gaining 0.11 per cent. Magnum Comma remained neutral, not losing or gaining anything.
Bottom-5 tax-planning funds: Reliance Tax Saver (-5.47 per cent), Birla Equity Plan (-5.30 per cent), Franklin India Taxshield (-5.22 per cent), Libra Taxshield '96 (-5.18 per cent), BoB ELSS '96 (-5.10 per cent). HDFC Taxsaver put up the best performance with the minimum loss (-1.06 per cent) in the category.
Among rest of the equity categories, FMCG funds lost 4.24 per cent as compared to the 6.81 per cent lose in the BSE FMCG Index. Technology and pharma funds shed 6.10 per cent and 5.19 per cent, respectively. Equity-oriented hybrid funds, which normally maintain 60:40 equity, debt ratio; lost 2.95 per cent last week, with BoB Balance being the worst hit (-4.82 per cent).