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Sectoral funds weekly roundup - Views on News from Equitymaster
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  • Feb 17, 2001

    Sectoral funds weekly roundup

    Subdued mood in the markets saw both the major market indices on a downslide over the week. While the BSE Sensex fell by 1.6% to close at 4,331 points, the S&P CNX Nifty was down by 1.5%, closing at 1,381 points.

    Open-ended, IT†Funds NAV
    DSP ML Tech.com (Gr) 6.9 0.7% 7.8% 0.0% -18.9%
    K P Internet Opport.(Gr) 6.9 0.1% 5.2% 0.0% -28.2%
    Alliance New Millenn (Gr) 7.5 0.1% 3.9% 0.0% -50.9%
    Magnum Sector Funds-IT 12.1 0.0% 5.1% -57.0% 51.1%
    K Tech 6.0 0.0% 5.6% 0.0% -24.2%
    K P Infotech (Gr) 23.9 0.0% 4.2% -50.2% 91.3%
    Sun F&C Emerg Tech (Gr) 5.9 -0.2% 6.1% 0.0% -30.7%
    Birla IT Fund (Gr) 13.3 -0.4% 3.3% -56.3% 6.1%
    Pru ICICI Tech. (Gr) 5.1 -0.6% 4.9% 0.0% -47.8%
    Tata IT Sector Fund 9.0 -0.8% 6.8% -51.5% 14.0%
    Chola Freedom Tech (Cum) 12.8 -0.9% 3.7% -40.6% 7.7%
    UTI Sector- Software 14.1 -0.9% 4.3% -53.9% 19.6%
    IL&FS eCOM Fund (Gr) 5.1 -1.4% 4.3% 0.0% -62.8%

    Returns over 12 months are annualised

    Information Technology (IT) funds faced the brunt of the depression in the markets. NAVs (net asset values) of IT funds showed little or no growth. Software majors Infosys, Satyam and NIIT were unable to post gains and lost significantly on the bourses. Fall in the NASDAQ (down 5%) was the major reason for the subdued mood in IT counters.

    Open-ended, Pharma†Funds NAV
    K P Pharma (Gr) 10.1 2.8% 4.6% -19.3% 4.3%
    UTI Sector-Pharma 11.3 2.3% 9.0% -6.3% -2.0%
    Magnum Sector Funds-Pharma 10.2 1.6% 4.8% -18.1% 1.2%

    Returns over 12 months are annualised

    Performance of pharma funds has improved reasonably over the last week. This is mainly due to firming up of MNC (multinational) pharma prices on news of relaxation of drug price control (DPCO) norms. Indian pharma is not expected to benefit as significantly (from relaxation of DPCO norms) which explains why they trailed their MNC counterparts.

    Open-ended, FMCG†Funds NAV
    Pru ICICI FMCG (Gr) 10.7 2.5% 5.8% -15.1% 2.3%
    K P FMCG (Gr) 12.5 2.1% 5.7% -20.7% 14.4%
    Magnum Sector Funds-FMCG 8.5 1.9% 2.3% -36.3% -8.7%

    Returns over 12 months are annualised

    As in the case of pharma funds, FMCG (fast moving consumer goods) funds also did well as NAVs appreciated smartly. Hindustan Lever (HLL) and ITC were the chief gainers on the bourses. 22% pick-up in HLLís net profit brought a lot of cheer to investors, notwithstanding the dismal 4% sales growth.



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