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Sectoral funds – Weekly roundup - Views on News from Equitymaster
 
 
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  • Oct 28, 2000

    Sectoral funds – Weekly roundup

    During the week, the BSE Sensex rose 3.0% to 3,729 points. The S&P CNX Nifty also appreciated 3.0% to close at 1,180 points.

    Open-ended, IT Funds NAV
    (Rs)
    Last
    week
    Last
    month
    Last
    year
    Since
    inception
    Magnum Sector Funds-IT 13.3 10.4% -11.4% 14.8% 80.9%
    K P Infotech (Gr) 24.7 10.0% -13.5% 33.4% 113.4%
    K Tech 6.2 7.7% -15.9% 0.0% -21.6%
    K P Internet Opport.(Gr) 6.5 7.6% -15.7% 0.0% -31.8%
    Alliance New Millenn (Gr) 7.4 3.2% -13.5% 0.0% -51.7%
    Tata IT Sector Fund 9.3 3.0% -17.2% 9.3% 16.0%
    Birla IT Fund (Gr) 15.1 2.0% -17.0% -6.3% 8.8%
    Chola Freedom Tech (Reg) 8.0 1.5% -16.7% -16.4% 8.6%
    UTI Sector- Software 16.6 1.1% -21.3% 22.6% 24.1%
    Pru ICICI Tech. (Gr) 5.0 0.8% -13.3% 0.0% -48.8%
    DSP ML Tech.com (Gr) 6.8 0.1% -17.2% 0.0% -20.4%
    IL&FS eCOM Fund (Gr) 5.0 0.0% -16.5% 0.0% -63.2%

    The mood in technology stocks was nothing worth raving about. With the exception of Pentamedia, HCL Tech and Hughes Software, software stocks were at last week’s levels. There were no major results announced during the week, and there was really no trigger to spur buying, or for that matter even selling in software stocks.

    Open-ended, Pharma Funds NAV
    (Rs)
    Last
    week
    Last
    month
    Last
    year
    Since
    inception
    Magnum Sector Funds-Pharma 9.7 4.7% 1.7% -26.8% -2.5%
    K P Pharma (Gr) 9.6 4.4% -1.1% -30.0% 1.6%
    UTI Sector-Pharma 9.6 -0.6% -1.3% -23.7% -17.9%

    Cipla and Ranbaxy witnessed buying on the back of good results. Dr Reddy and Wockhardt are expected to come out with results during the week. This could spur buying in these counters.

    Open-ended, FMCG Funds NAV
    (Rs)
    Last
    week
    Last
    month
    Last
    year
    Since
    inception
    K P FMCG (Gr) 11.2 1.2% -3.5% -10.9% 9.5%
    Magnum Sector Funds-FMCG 8.0 0.6% -5.2% -33.3% -15.0%
    Pru ICICI FMCG (Gr) 9.1 -0.7% -5.0% -21.6% -8.6%

    In what is becoming the norm rather than the exception with fast-moving consumer goods (FMCG) stocks, there was no buying and these stocks continued to languish at earlier levels. With the exception of Nestle and Britannia, trading in FMCG stocks was listless. Candbury and Britannia are expected to declare results during the week.

     

     

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