Equity NAVs surge as markets end higher

Equity Mutual Funds closed in a positive terrain as markets end higher, debt long term and debt short term fund decline.

Equity Mutual Funds advanced for the third consecutive day on Friday as markets end higher. The week was quite strong for the market with the Sensex gaining 650 points on the back of measures for banks & rupee by new RBI governor Raghuram Rajan and hopes of fuel price hike this weekend. All the funds in the equity domain advanced registering very few decline.

In the sector space, Pharma and FMCG fund advanced with no decline, while all other sector categories advanced registering very few decline.

The Sensex was up 290.30 points to close at 19270.06, continuing its upward journey for the third consecutive session. The Nifty rallied 87.45 points to 5680.40.

On the fixed income front, funds in the long term and short term category decline as the Indian government bonds slumped on Friday, falling for a second consecutive session ahead of a long weekend, as investors feared the U.S. monthly jobs data later in the day could point to the start of the monetary stimulus tapering.

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