IT funds back in the black - Views on News from Equitymaster

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks


Login Failure
(Please do not use this option on a public machine)
  Sign Up | Forgot Password?  

IT funds back in the black

May 9, 2000

But for how long? That’s something that may need some answering after yesterday’s (8th May 2000) 230-point fall in the BSE Sensex. Last week the markets cheered the Yashwant Sinha-sweetner for the pharma and software sectors with the Sensex rebounding from a perilous 4,100 points to over 4,700 points in just 3 days. The cheering was followed by signs of some conviction that there was finally a trend emerging in the markets putting an end to some distressing volatility. However after yesterday’s 230-point slide investors may want to perish such thoughts.

With the rebound in software and pharma counters last week, we had recommended a mix of caution and aggression while reviewing sectoral funds (particularly software and pharma). For the more cautious mutual fund investor we had suggested that he wait till this week in the hope of a definite trend. The way things stand now, it seems investors have some waiting in store for them.

Open-ended IT fundsNAV (Rs)Last weekLast monthSince inception
Magnum Sector Funds - IT18.666.00%-17.90%161.50%
Birla IT Fund (Growth)23.825.40%-7.70%19.80%
Alliance New Millennium Fund (Gr)9.64.20%-10.80%-37.20%
UTI Sector Fund - Software25.773.80%-15.50%97.50%
IL&FS eCOM Fund (Gr)7.242.80%-21.30%-46.90%
Chola Freedom Technology (Cum)17.882.60%-8.20%27.90%
Sun F & C Emerging Tech. (Gr)7.832.60%-3.70%-8.50%
Tata IT Sector Fund13.412.40%-16.40%30.40%
Pru ICICI Tech. Fund (Gr)6.732.00%-17.70%-31.60%
Kothari Pioneer Infotech (Gr)32.881.70%-7.50%213.90%
Kothari Pioneer Internet Opport. (Gr)8.731.00%-2.10%-8.90%

We reiterate our view that investors don’t get too flattered with the 1-week returns of software funds and look for some emerging trends (and inform us when you find one!).

Equitymaster requests your view! Post a comment on "IT funds back in the black". Click here!


More Views on News

Sorry! There are no related views on news for this company/sector.

Most Popular

Infosys vs TCS: Which is Better? (Views On News)

Nov 26, 2021

In the post pandemic era, the top two IT companies in India are fighting to capture the growing demand for IT.

This Multibagger Stock Zooms 20% After Dolly Khanna Buys Stake (Views On News)

Nov 24, 2021

Shares of this edible oil company zoomed over 50% in three days after ace investor bought around 1% stake.

6 Popular Stocks that Turned into Penny Stocks (Views On News)

Nov 27, 2021

A look at popular stocks that crashed big time and never recovered, i.e. which went from 'Multibaggers to Multibeggers'.

India's Top 5 Monopoly Stocks to Watch Out for (Views On News)

Nov 30, 2021

These 5 companies dominate their sectors with a huge piece of the pie.

5 Indian Companies Embracing Blockchain Technology (Views On News)

Nov 23, 2021

Blockchain adoption in India was slow in the past. Now, the technology is being well received.


Become A Smarter Investor
In Just 5 Minutes

Multibagger Stock Guide 2022
Get our special report Multibagger Stocks Guide (2022 Edition) Now!
We will never sell or rent your email id.
Please read our Terms