Sectoral funds – Weekly roundup - Views on News from Equitymaster

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

  • MyStocks

MEMBER'S LOGINX

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

Sectoral funds – Weekly roundup

Oct 14, 2000

The markets witnessed one of the most miserable weeks in recent times. The BSE Sensex slumped 8.6% to close at 3,739 points, while the S&P CNX Nifty crashed 8.4% to close at 1,177 points.

Open-ended, IT FundsNAV
(Rs)
Last
week
Last
month
Last
year
Since
inception
Pru ICICI Tech. (Gr)5.1-7.1%-22.9%0.0%-48.3%
Alliance New Millenn (Gr)7.5-8.2%-23.2%0.0%-51.1%
Birla IT Fund (Gr)15.6-8.3%-25.5%-15.5%9.5%
K P Internet Opport.(Gr)6.7-8.3%-22.0%0.0%-29.7%
DSP ML Tech.com (Gr)7.1-8.6%-24.6%0.0%-16.4%
K Tech6.3-8.9%-24.4%0.0%-19.4%
K P Infotech (Gr)24.8-9.2%-21.6%21.4%116.4%
IL&FS eCOM Fund (Gr)5.1-9.4%-28.6%0.0%-62.4%
Tata IT Sector Fund9.4-10.0%-28.2%-5.4%16.4%
UTI Sector- Software17.8-10.8%-28.4%9.5%33.3%
Chola Freedom Tech (Reg)8.4-11.2%-22.9%-17.2%10.7%
Magnum Sector Funds-IT13.0-13.5%-28.0%-2.1%81.1%

Excellent results from Infosys (134% year-on-year growth in net profit) and Satyam (118% net profit growth) failed to perk up the markets. On the contrary, markets actually fell after the declaration of results. Other tech companies (NIIT, Global Tele) are expected to declare excellent results. Currently most software stocks are trading at 52-week lows. However, it remains to be seen whether these two factors will spur buying in what is turning out to be a very lacklustre market.

Open-ended, Pharma FundsNAV
(Rs)
Last
week
Last
month
Last
year
Since
inception
K P Pharma (Gr)9.5-2.0%-7.3%-39.3%1.4%
Magnum Sector Funds-Pharma9.2-2.5%-9.7%-39.2%-6.8%
UTI Sector-Pharma9.5-3.2%-9.8%-34.1%-19.1%

Ranbaxy and Cipla were the only pharma stocks to see some buying during the week. The mood in pharma stocks is still subdued and there is little buying currently. In the near term, good quarterly results from pharma majors seems to be only trigger that can change this situation.

Open-ended, FMCG FundsNAV
(Rs)
Last
week
Last
month
Last
year
Since
inception
K P FMCG (Gr) 11.2-1.4%-10.1%-14.2%9.3%
Pru ICICI FMCG (Gr)9.2-1.7%-9.7%-26.6%-7.6%
Magnum Sector Funds-FMCG8.1-3.6%-14.9%-37.2%-15.0%

With the exception of Nestle and Britannia, fast moving consumer goods (FMCG) stocks witnessed little buying. Poor results by Hindustan Lever (16% year-on-year growth in net profit) is just what the FMCG sector did not need at this time. The outlook for FMCG stocks continues to be negative and buying is still elusive.

Equitymaster requests your view! Post a comment on "Sectoral funds – Weekly roundup". 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.

How to Hit Rs 100 Crore Wealth in Your Lifetime (Equitymaster Wealth)

Nov 15, 2021

This is how you can achieve the ambitious goal of a net worth of Rs 100 crore.

Don't Sell these Stocks if the Market Falls (Profit Hunter)

Nov 17, 2021

These are the 3 types of stocks that you should not sell in a market crash.

MobiKwik IPO Opens for Subscription Soon. Key Things to Know Before Subscribing. (Views On News)

Nov 20, 2021

The Rs 19 bn issue is set to hit the market soon.

More

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

MARKET STATS