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Gains All Around

Firm equity markets helped equity funds register positive returns in the week ended May 5. Banking funds led the rally with returns of 8.74 per cent

As the market ended the week to May 5 on a firm note, almost all fund categories registered positive returns. Both the Nifty and the Sensex grew steadily over the week. The Nifty closed at 3663.95 points, up 4.43 per cent over the previous week's close, while the Sensex ended the week up 4.3 per cent at 12,359.70.

The category of diversified equity funds generated a return of 3.33 per cent in the week ended May 5. The BSE 100 gained 4.7 per cent in the week that saw strong financial performance by companies and healthy FII buying.
The Top Five
Tata Equity PE 5.85 per cent; ABN AMRO Opportunities 5.49 per cent; Magnum Equity 5.37 per cent; ING Vysya Dividend Yield 5.10 per cent; Fidelity Equity 4.84 per cent.
The Bottom Five
Reliance Regular Savings Equity 1.29 per cent; BoB Growth 1.35 per cent; Sahara Mid-Cap Fund 1.40 per cent; Baroda Global 1.40 per cent; Chola Global Advantage 1.43 per cent.

The category of tax planning equity funds too mirrored the diversified equity funds with a gain of 3.33 per cent during the week.
The Top Five
Birla Sun Life Tax Relief '96 5.69 per cent; Birla Equity Plan 5.11 per cent; Libra Taxshield '96 4.84 per cent; Franklin India Taxshield 4.45 per cent; Canequity-Tax Saver 4.39 per cent.
The Bottom Five
Magnum Taxgain 1.88 per cent; ING Vysya Tax Savings 1.89 per cent; BoB ELSS '96 1.99 per cent; Prudential ICICI Tax Plan 2.06 per cent; DWS Tax Saving 2.44 per cent.

The category of banking funds registered the highest gain (8.74 per cent) among all fund categories. Both the funds in this category generated returns of over 8 per cent in the week under review. Reliance Banking was up 8.80 per cent while UTI Banking Sector grew 8.69 per cent. The BSE Bankex recorded a gain of 9.81% during the week.

The index funds as a category gained 4.53 per cent during the week ended May 5.
The Top Five
Banking BeES 9.85 per cent; Nifty Junior BeES 6.69 per cent; UTI Nifty Index 4.43 per cent; Nifty Benchmark ETS 4.42 per cent; UTI Sunder 4.42 per cent.
The Bottom Five
Reliance Index Nifty 2.75 per cent; Magnum Index 3.70 per cent; LICMF Index Nifty 3.75 per cent; Tata Index Sensex A 3.90 per cent; Reliance Index Sensex 4.11 per cent.

Funds under the equity-oriented hybrid funds' category gained 2.47 per cent in the week under review. The VR Balanced index too surged 2.65 per cent during the period.
The Top Five
Birla Sun Life'95 4.23 per cent; Canbalance II 3.64 per cent; Birla Balance 3.54 per cent; FT India Balanced 3.24 per cent; Principal Child Benefit 3.22 per cent.
The Bottom Five
UTI Balanced 1.43 per cent; Prudential ICICI ChildCare-Gift 1.54 per cent; HDFC Children's Gift-Inv 1.54 per cent; HDFC Prudence 1.61 per cent; LICMF Balance 1.64 per cent.