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Sectoral funds – Weekly roundup

Feb 10, 2001

During the week markets witnessed insignificant gains, although sentiment remained quite positive. BSE Sensex gained merely by 0.6% to close at 4,397 points, whereas the S&P CNX Nifty rose by 1.6% to close at 1,406 points.

Open-ended, IT Funds NAV(Rs) Last
DSP ML (Gr) 6.9 1.9% 4.1% 0.0% -19.4%
Sun F&C Emerg Tech (Gr) 5.9 1.5% 3.5% 0.0% -30.6%
Tata IT Sector Fund 9.1 1.1% 6.4% -48.2% 14.3%
IL&FS eCOM Fund (Gr) 5.2 0.8% 5.7% 0.0% -61.9%
K P Internet Opport.(Gr) 6.9 0.7% 5.2% 0.0% -28.3%
K Tech 6.0 0.4% 3.1% 0.0% -24.2%
Pru ICICI Tech. (Gr) 5.2 0.2% 5.7% 0.0% -47.5%
Alliance New Millenn (Gr) 7.5 -0.1% 2.5% 0.0% -50.9%
UTI Sector- Software 14.3 -0.2% 2.5% -34.9% 20.7%
Chola Freedom Tech (Cum) 13.0 -0.2% 5.1% -36.4% 8.4%
Magnum Sector Funds-IT 12.1 -0.3% 3.2% -53.3% 51.8%
K P Infotech (Gr) 23.9 -0.7% 4.1% -44.3% 92.4%
Birla IT Fund (Gr) 13.4 -1.4% 2.4% -54.8% 6.1%
Returns over 12 months are annualised

This was a week of mixed fortunes for information technology (IT) funds. A few IT funds did manage to churn out positive returns. IT majors Infosys, Satyam and NIIT were key losers on the bourses. Panic in IT stocks was fueled largely due to the NASDAQ falling (7%), as some key investment bankers downgraded Microsoft.

Open-ended, Pharma Funds NAV(Rs) Last
K P Pharma (Gr) 9.8 2.6% -1.4% -26.7% 2.8%
Magnum Sector Funds-Pharma 10.1 2.1% 1.5% -25.8% 0.2%
UTI Sector-Pharma 11.1 2.0% 3.6% -11.7% -3.5%
Returns over 12 months are annualised

All pharma funds recorded growth of over 2% during the week. Pfizer and Smithkline declared positive quarterly results. Glaxo was a major gainer and hit the upper circuit during the last trading day on BSE despite declaring poor results. This was mainly due to its merger plan with Smithkline in India.

Open-ended, FMCG Funds NAV(Rs) Last week Last month Last year Inception
Pru ICICI FMCG (Gr) 10.4 2.9% 1.6% -15.6% 0.8%
K P FMCG (Gr) 12.2 2.3% 0.5% -20.5% 13.2%
Magnum Sector Funds-FMCG 8.3 1.0% -2.0% -38.7% -9.9%
Returns over 12 months are annualised

Fast moving consumer goods (FMCG) funds shared the limelight with pharma funds. Nestle, Colgate and HLL were major gainers improving sentiment in the sector considerably. However, there is no indication that buying in the sector will persist over the next few weeks.

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