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Sectoral funds roundup - Views on News from Equitymaster
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  • Sep 11, 2000

    Sectoral funds roundup

    IT funds surged with sustained buying in some software counters like Infosys, Satyam Computers, HCL Tech. and NIIT. Second rung software stocks like Onward Tech., Subex Sys, Mascot also witnessed significant buying. A note of caution for investors –buying in IT stocks can easily turn to a sell in this week should funds and FIIs decide to book profits.

    Open-ended, IT Funds NAV
    UTI Sector- Software 24.2 8.4% 32.1% 0.0% 85.6%
    Alliance New Millenn (Gr) 9.3 6.6% 27.1% 0.0% -39.0%
    IL&FS eCOM Fund (Gr) 7.1 5.8% 29.7% 0.0% -48.1%
    Pru ICICI Tech. (Gr) 6.3 5.7% 20.4% 0.0% -35.8%
    DSP ML Tech.com (Gr) 9.2 5.0% 23.9% 0.0% 8.1%
    Magnum Sector Funds-IT 17.8 4.5% 33.9% 106.0% 129.6%
    K Tech 8.2 4.2% 19.6% 0.0% 5.1%
    Chola Freedom Tech (Cum) 17.3 3.4% 20.2% 12.2% 22.4%
    Birla IT Fund (Gr) 20.3 2.8% 19.7% 49.8% 15.1%
    Tata IT Sector Fund 12.7 2.0% 18.8% 64.0% 25.8%
    K P Infotech (Gr) 31.3 1.7% 16.8% 116.5% 152.1%
    K P Internet Opport.(Gr) 8.5 1.3% 13.3% 0.0% -11.0%

    Pharma funds
    The increase in the net asset values (NAVs) of pharma funds can be attributed to the appreciation witnessed in Ranbaxy and Dr Reddys. The former increased on expectations of a milestone payment from Bayer, with Dr Reddys witnessing significant buying based on its promising research pipeline and a hike in exports (to countries other than Russia).

    Open-ended, Pharma Funds NAV
    K P Pharma (Gr) 10.4 2.2% 7.0% -15.1% 7.8%
    UTI Sector-Pharma 10.4 1.4% 7.3% 0.0% -12.5%
    Magnum Sector Funds-Pharma 10.1 1.0% 6.0% -12.9% 0.3%

    FMCG funds
    NAVs of FMCG funds appreciated with selective buying in FMCG stocks like Hindustan Lever, Nestle, Cadbury. However, in the course of this week the picture will get clearer as to whether buying in FMCG is a sustained phenomenon.
    Open-ended, FMCG Funds NAV
    Magnum Sector Funds-FMCG 9.5 6.0% 15.0% -15.9% -7.1%
    Pru ICICI FMCG (Gr) 10.2 3.7% 3.0% -11.8% -1.0%
    K P FMCG (Gr) 12.3 2.7% 3.4% -0.2% 17.8%



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