After weeks of surge came the big fall.The Sensex plummeted 6.99 percentage points, shedding 977 points over the three days.
13-Dec-2006 •Research Desk
After weeks of surge came the big fall.The Sensex plummeted 6.99 percentage points, shedding 977 points over the three days. (December 8-December 12)
So how did your mutual funds fare?
While many analysts refused to attribute the catastrophic fall over the two days (December 11-12) to the CRR hike announced on December 8, the fact remains that the banking stocks were the first hit.
With the dismal industrial output data announced on December 12, there was no hope to salvage the previous day's loss.
The diversified equity funds which took a lead in the free fall were Taurus Discovery Stock, which fell 9.4 per cent in three days, followed by LICMF Equity (8.76 per cent) and ABN AMRO Equity (8.6 per cent). The equity tax planning funds also witnessed significant loss in their NAVs with LICMF Tax Plan leading the pack with a 7.73 per cent fall. Birla Sun Life Tax Relief '96 lost just 2.5 per cent.
Technology stocks were not spared either, with the worst hit fund - Birla Sun Life New Millennium - losing 6 per cent. Franklin Infotech was able to contain its loss at 3 per cent.