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Sectoral funds – Weekly roundup

Oct 21, 2000

Open-ended, IT Funds NAV
(Rs)
Last
week
Last
month
Last
year
Since
inception
IL&FS eCOM Fund (Gr) 5.2 2.1% -13.3% 0.0% -61.6%
Pru ICICI Tech. (Gr) 5.1 0.8% -12.3% 0.0% -47.9%
Tata IT Sector Fund 9.4 0.0% -17.4% -0.4% 16.3%
Alliance New Millenn (Gr) 7.4 -0.4% -14.1% 0.0% -51.3%
Magnum Sector Funds-IT 12.9 -0.6% -17.7% 0.6% 78.3%
Birla IT Fund (Gr) 15.1 -2.7% -17.4% -16.9% 8.9%
Chola Freedom Tech (Cum) 12.8 -3.5% -15.1% -18.9% 8.7%
K P Infotech (Gr) 23.9 -3.6% -16.1% 18.9% 111.3%
K Tech 6.1 -3.7% -16.9% 0.0% -22.4%
DSP ML Tech.com (Gr) 6.9 -3.9% -16.2% 0.0% -19.7%
K P Internet Opport.(Gr) 6.4 -4.6% -17.3% 0.0% -33.0%
UTI Sector- Software 16.9 -5.1% -20.7% 6.6% 26.5%

Infotech (IT) stocks witnessed some buying in the last two days of the week, staging a mini-recovery in the process. Buying has been largely selective with only Infosys and NIIT seeing some appreciation. No IT major is expected to declare results in the following week. Most IT stocks are trading at very low levels and this could spur bargain hunters to enter some time next week.

Open-ended, Pharma Funds NAV
(Rs)
Last
week
Last
month
Last
year
Since
inception
UTI Sector-Pharma 9.7 1.7% -1.8% -32.0% -17.6%
Magnum Sector Funds-Pharma 9.4 1.5% -2.7% -38.4% -5.5%
K P Pharma (Gr) 9.3 -2.8% -5.5% -40.1% -0.6%

E-Merck (net profit up 62% year on year) and Sun Pharma (net profit up 41%) witnessed buying during the week, as did Smithkline Pharma. Apart from these stocks, sentiment in pharma stocks was nothing worth raving about. As Cipla, Dr Reddy’s and Glaxo get set to declare results in the following week, buying in these counters is expected to pick up on the back of positive results. Pharma funds could finally see some upward movement for a change.

Open-ended, FMCG Funds NAV
(Rs)
Last
week
Last
month
Last
year
Since
inception
K P FMCG (Gr) 11.2 0.1% -5.3% -13.1% 9.3%
Magnum Sector Funds-FMCG 8.0 -0.1% -7.3% -36.3% -14.8%
Pru ICICI FMCG (Gr) 9.2 -0.4% -5.4% -24.3% -7.8%

With the exception of Cadbury and Nestle, there was no buying in fast-moving consumer goods (FMCG) stocks. The mood in FMCG continues to remain downcast. However, as FMCG majors – Cadbury, ITC and Marico look to declare results in the next week, these stocks could witness some buying on news of good results.

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