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Tech Fund Regime

The week ended July 14 belonged to technology stocks. Buoyed by strong results of Infosys, technology funds gained 4.56 per cent. The Sensex rose by 1.61 per cent over the week

Equity markets closed the week ended July 14 on a positive note. The Sensex and the Nifty gained 1.61 per cent and 1.54 per cent, respectively, over the five trading sessions. Except for the BSE Bankex, all other sectoral indices reported gains. Mutual funds too mirrored the mood on the street with only three fund categories - Gilt: Medium & Long-term (-0.07 per cent), Equity Banking (-0.98 per cent) and Equity Auto (-1.63 per cent)- reporting negative returns.

Equity: Diversified
The category of diversified equity funds gained 1.14 per cent over the week ended July 14. The BSE 100 index gained 1.24 per cent during the week under review.
Top Five:Tata Life Sciences & Tech (3.22 per cent), ING Vysya L.I.O.N (3.14 per cent), DWS Alpha Equity (3.04 per cent), Magnum COMMA (3.00 per cent), JM Equity (2.91 per cent). Bottom Five:UTI Mid Cap (-2.23 per cent), DBS Chola Opportunities (-1.93 per cent), Magnum Emerging Businesses (-0.84 per cent), DBS Chola Growth (-0.75 per cent), ING Vysya Dividend Yield (-0.63 per cent).

Equity: Tax Planning
Tax planning equity funds as a group gained 1.13 per cent during the week ended July 14.
Top Five:ING Vysya Tax Savings (2.83 per cent), Sahara Tax Gain (2.58 per cent), Magnum Taxgain (1.96 per cent), ABN AMRO Tax Advantage Plan (1.87 per cent), HDFC Taxsaver (1.79per cent).
Bottom Five:Libra Taxshield '96 (-0.96 per cent), Sundaram Taxsaver (0.13 per cent), DBS Chola Tax Saver (0.29 per cent), Reliance Tax Saver (0.38 per cent), Principal Personal Tax Saver (0.52per cent).

Equity: Technology The week belonged to technology funds. With Infosys reporting an almost 50 per cent jump in net profit, technology funds saw strong appreciation. The category of technology funds gained 4.56 per cent during the week. None of the funds in this category reported negative return.
The rankings for the week: Franklin Infotech (7.39 per cent), UTI Software (6.03 per cent), Kotak Tech (4.30 per cent), DSPML Technology.com (4.23 per cent), Magnum IT (4.09 per cent), Birla Sun Life New Millennium (3.60 per cent), Prudential ICICI Technology (2.29 per cent).

Equity: Index Index funds gained 1.24 per cent in the week that saw the Sensex and the Nifty surge 1.61 per cent and 1.54 per cent, respectively.
Top Five:UTI Master Index (1.72 per cent), Franklin India Index BSE Sensex (1.72 per cent), Prudential ICICI SPIcE (1.71 per cent), Tata Index Nifty A ( 1.67 per cent), Tata Index Sensex A (1.64per cent).
Bottom Five:Banking BeES (-2.00 per cent), Reliance Index Sensex (0.18 per cent), Nifty Junior BeES (0.79 per cent), LICMF Index Nifty (0.92 per cent), Reliance Index Nifty (1.02 per cent).

Hybrid: Equity-Oriented The category of hybrid equity-oriented funds registered a gain of 1 per cent during the week under review.
Top Five:ING Vysya Balanced (2.24 per cent), LICMF Balance (1.75 per cent), HDFC Balanced (1.73 per cent), Templeton India CAP Gift Plan (1.71 per cent), Magnum Balanced (1.55 per cent).
Bottom Five:Birla Sun Life'95 (0.13 per cent), BoB Balance (0.30 per cent), Principal Balanced (0.44 per cent), FT India Life Stage FoF 30s (0.59 per cent), LICMF ULIS (0.70 per cent).

Hybrid: Asset Allocation
The category gained 0.96 per cent between July 10 and July14.
Top Five:DWS Investment Opportunity (2.82 per cent), FT India Dynamic PE Ratio FoF (1.19 per cent), Magnum NRI Inv FlexiAsset (0.99 per cent), UTI Variable Investment (0.38 per cent), UTI Dynamic Equity (-0.60 per cent).

Among the other equity funds, the category of FMCG funds and that of pharma funds gained 0.68 per cent and 0.44 per cent, respectively.

Hybrid: Debt-Oriented
The debt-oriented hybrid funds saw 0.32 per cent appreciation over the week.
Top Five:Escorts Opportunities (1.21 per cent), Unit Scheme 2002 (0.91 per cent), LICMF Children's (0.74 per cent), Tata Young Citizens (0.74 per cent), Templeton India Pension (0.72 per cent).
Bottom Five:Unit Linked Insurance Plan '71(-0.45 per cent), UTI Retirement Benefit Pension (-0.26 per cent), UTI Mahila Unit Scheme-Gift (-0.12 per cent), Canbalance (-0.08 per cent), BoB Children Study (0 per cent).

The categories of hybrid monthly income funds and short-term debt funds gained 0.29 per cent and 0.13 per cent, respectively.