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Sectoral funds weekly roundup

Mar 17, 2001

Tehelka and low volumes on the bourses were the highlights of the week. The BSE Sensex fell 0.7% to close at 3,734 points whereas the S&P CNX Nifty was lower by 0.4% to close at 1,191 points.

Open-ended, IT Schemes NAV(Rs)Last weekLast monthLast yearInception
Tata IT Sector Fund7.4-4.1%-16.8%-63.3%9.0%
K P Internet Opport.(Gr)5.4-4.9%-20.9%0.0%-43.7%
Chola Freedom Tech (Cum)9.9-6.4%-22.9%-52.6%-0.9%
IL&FS eCOM Fund (Gr)3.6-7.6%-30.0%-71.7%-72.8%
Pru ICICI Tech. (Gr)3.6-8.9%-29.4%-64.3%-63.7%
Alliance New Millenn (Gr)5.4-9.2%-27.7%-65.1%-63.2%
K P Infotech (Gr)16.2-9.2%-31.2%-64.6%60.9%
Magnum Sector Funds-IT8.4-9.4%-30.1%-71.0%17.5%
Birla IT Fund (Gr)9.4-9.7%-29.6%-72.3%-0.3%
K Tech3.9-11.0%-33.4%0.0%-50.4%
DSP ML (Gr)4.6-11.8%-32.5%0.0%-46.5%
UTI Sector- Software9.0-11.8%-35.3%-75.4%-11.4%
Sun F&C Emerg Tech (Gr)4.1-12.3%-29.1%0.0%-51.6%
Returns over 12 months are annualised

Net asset values (NAVs) of information technology (IT) funds have plunged by as much as 12% over the week. Among the leading IT stocks, only Satyam Computers, was able to hold its own while peers - Infosys and NIIT witnessed losses. The fall in IT stocks was mainly due to the slump on the NASDAQ (down 8%) and the crisis in the domestic markets.

Pharma Schemes
Magnum Sector Funds-Pharma9.2-3.8%-10.3%-17.3%-5.3%
K P Pharma (Gr)9.2-5.4%-9.4%-17.8%-0.8%
UTI Sector-Pharma10.2-7.1%-11.0%-9.4%-8.7%
Returns over 12 months are annualised

Pharma funds were witness to some gloom as returns fell. Ranbaxy, Glaxo, Cipla and Dr. Reddy have been the major losers as volumes fell in line with the sentiment.

FMCG Schemes
Pru ICICI FMCG (Gr)9.3-5.2%-11.2%-20.6%-5.7%
K P FMCG (Gr) 10.9-5.5%-10.5%-25.5%6.0%
Magnum Sector Funds-FMCG7.1-5.7%-14.5%-34.3%-17.5%
Returns over 12 months are annualised

Fast moving consumer goods (FMCG) fund’s NAVs fell close to 6% mirroring the performance of pharma and IT funds. Colgate, Nestle, I.T.C and HLL have witnessed some erosion on the back of pessimism and wariness among investors. There is very little reason to believe that the scenario among sectoral funds will improve over the next week.

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