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Growth funds get welcome push

Oct 30, 2000

After a slump in the markets over the past few weeks both the major indices – BSE Sensex and S&P CNX Nifty have appreciated by 3% each during the last week. This is reflected in the marginal improvement in the performance of diversified growth funds.

Open-ended, Growth Schemes NAV
BSE - 30 - 2.94% -11.50% -28.60% -
S&P CNX Nifty - 2.97% -9.20% -19.50% -
S&P CNX 500 - -3.60% -16.80% -29.10% -
Sun F&C Emerg Tech (Gr) 5.7 10.2% -9.2% 0.0% -33.1%
Sun F & C Value (Gr) 18.3 7.0% -10.5% -20.0% 23.7%
K P Prima Plus (Gr) 20.3 6.7% -7.6% -6.3% 14.2%
K 30 14.7 6.4% -8.3% -4.8% 38.9%
Magnum Multiplier Plus 1993 15.5 5.9% -14.0% -29.1% 7.3%
Magnum Global Fund 9.9 5.7% -11.4% -22.7% 1.5%
Franklin Growth Fund 6.4 5.6% -9.3% 0.0% -38.4%
K P Bluechip (Gr) 20.9 5.1% -6.3% 5.1% 27.3%
Magnum Equity Fund 12.6 5.0% -12.5% -15.2% 13.8%
(The above table shows only diversified growth funds with over 5% growth in last week)

Markets have moved up in the last week as some key stocks have surged significantly. There was heavy buying in pharma stocks like Ranbaxy, Reddy, Sun Pharma and Cipla. IT stocks like HCL Tech, Infosys, Visualsoft and NIIT have also witnessed decent buying. This has propped up growth fund net asset values (NAVs).

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