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The Heat Is On

As markets felt the heat of boiling oil prices and war in West Asia, all equity fund categories recorded losses during the week ended July 21

Markets came under tremendous pressure from the raging disturbances in West Asia and the resultant increase in global crude oil prices during the week ended July 21.

While the Sensex lost 5.55 per cent during the week, the 50-stock Nifty slipped 5.71 per cent over the five-day period. S&P CNX 500 and CNX Mid Cap also ended the week down 6.57 per cent and 6.12 per cent, respectively.

All equity-fund categories ended the week in the read. The category of auto-sector funds was the hardest hit. As uncertainty over crude oil prices and disappointing quarterly results from Bajaj Auto and Hero Honda put auto stocks under pressure, the category recorded a loss of 7.61 per cent during the week under review.

On the other hand, debt funds managed to hold their ground with all debt fund categories managing positive returns during the week. The category of medium & long-term gilt funds was the top gainer among all categories.

Equity: Diversified
The category of equity diversified funds lost 6.23 per cent during the week ended July 21. The BSE 100 lost 5.87 per cent over the same period.

The Top Five
UTI Contra (-2.91 per cent), Reliance NRI (-3.17 per cent), DBS Chola Contra (-3.40 per cent), Birla Asset Allocation Aggressive (-3.55 per cent), FT India Life Stage FoF 20s (-3.62 per cent).

The Bottom Five
JM HI FI (-10.23 per cent), UTI Mid Cap (-9.77 per cent), Taurus Discovery Stock (-9.55 per cent), Tata Infrastructure (-9.21 per cent), Canequity Diversified (-8.75 per cent).

Equity: Tax Planning
The story was same for the equity tax planning category. The group was the second-worst performer (better than auto funds' category only) among all the categories, losing 6.67 per cent over the five-day period.

The Top Five
Fidelity Tax Advantage (-5.35 per cent), HDFC LT Advantage (-5.36 per cent), Franklin India Taxshield (-5.48 per cent), DBS Chola Tax Saver (-5.55 per cent), Franklin India Index Tax (-5.65 per cent).

The Bottom Five
Libra Taxshield '96 (-9.59 per cent), ING Vysya Tax Savings (-8.46 per cent), ABN AMRO Tax Advantage Plan (-8.22 per cent), Tata Tax Saving (-8.13 per cent), Canequity-Tax Saver (-7.42 per cent).

Equity: Technology
Technology funds too failed to put up an impressive show despite good quarterly numbers announced by IT biggies. The category lost 5.87 per cent during the week.

Equity: Index
The category of equity index funds mirrored the Sensex and the Nifty's trend. The category lost 5.36 per cent during the week.

The Top Five
Banking BeES (-2.35 per cent), Reliance Index Nifty (-3.82 per cent), LICMF Index Sensex (-4.80 per cent), Tata Index Sensex A (-5.05 per cent), LICMF Index Nifty (-5.18 per cent).

The Bottom Five
Nifty Junior BeES (-7.09 per cent), Franklin India Index BSE Sensex (-6.41 per cent), Principal Index (-5.78 per cent), Franklin India Index NSE Nifty (-5.71 per cent), Nifty Benchmark ETS (-5.68 per cent).

Hybrid: Equity-oriented
The Top Five
FT India Life Stage FoF 30s (-2.17 per cent), Birla Asset Allocation Moderate (-2.77 per cent), Birla Balance (-2.77 per cent), Prudential ICICI Advisor-Moderate (-2.78 per cent), Templeton India CAP Gift Plan (-3.08 per cent).

The Bottom Five
Prudential ICICI ChildCare-Gift (-5.49 per cent), Tata Balanced (-5.46 per cent), JM Balanced (-5.21 per cent), LICMF ULIS (-5.10 per cent), LICMF Balance (-4.83 per cent).

Hybrid: Debt-Oriented
The Top Five
Sundaram BNP Paribas Value Plus 3-Y Plan 1110 Days (0.12 per cent), BoB Children Gift (0.08 per cent), BoB Children Study (0.05 per cent), HDFC Multiple Yield (0.04 per cent), UTI Mahila Unit Scheme-Gift (-0.00 per cent).

The Bottom Five
Canbalance (-5.82 per cent), Escorts Opportunities (-4.11 per cent), LICMF Children's (-3.59 per cent), Unit Scheme 2002 (-3.36 per cent), Tata Young Citizens (-3.32 per cent).