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Sectoral funds – Weekly roundup

Dec 23, 2000

This week saw both the major market indices tumbling. The BSE Sensex plunged by 6.4% to close at 3,905 points, while the S&P CNX Nifty fell by 5.8% to close at 1,240 points.

Open-ended, IT Schemes NAV
(Rs)
Last
week
Last
month
Last
year
*CAGR
Since inception
K P Internet Opport.(Gr)6.4-10.1%-5.8%0.0%-32.8%
Birla IT Fund (Gr)13.7-10.6%-10.2%-41.5%6.7%
DSP ML Tech.com (Gr)6.8-11.8%-8.4%0.0%-21.0%
Pru ICICI Tech. (Gr)5.1-11.9%-6.7%0.0%-47.9%
UTI Sector- Software14.4-12.2%-8.1%-14.3%23.8%
Sun F&C Emerg Tech (Gr)5.8-12.6%-5.1%0.0%-32.0%
K Tech5.9-12.8%-8.2%0.0%-25.1%
Magnum Sector Funds-IT12.1-12.9%-11.8%-39.3%58.4%
K P Infotech (Gr)22.9-13.0%-11.1%-25.4%96.3%
IL&FS eCOM Fund (Gr)5.0-13.5%-8.8%0.0%-63.3%
Tata IT Sector Fund8.7-13.9%-12.7%-33.6%13.5%
Alliance New Millenn (Gr)7.3-14.1%-9.1%0.0%-52.2%
*CAGR=Compounded Annual Growth Rate

IT stocks were major losers over the week. Consequently all IT funds have performed poorly, churning out negative returns. IT majors like Infosys, Satyam and NIIT were top losers on both the indices. Infosys fell 19%, Satyam - 15% and NIIT - 14%. This slump was largely due to heavy selling by the foreign institutional investors (FIIs).

Open-ended, Pharma Schemes NAV
(Rs)
Last
week
Last
month
Last
year
*CAGR
Since inception
UTI Sector-Pharma11.1-4.0%3.0%-20.7%-4.0%
Magnum Sector Funds-Pharma9.9-5.2%1.4%-34.0%-1.1%
K P Pharma (Gr)9.9-5.4%5.0%-33.0%3.8%
*CAGR=Compounded Annual Growth Rate

The mood in pharma stocks was no exception and mirrored the mood in IT stocks. As a result NAVs (net asset values) of pharma funds have also witnessed negative growth. Major losers in the pharma sector were Ranbaxy, Dr. Reddys, Novartis, and Glaxo.

Open-ended, FMCG Schemes NAV
(Rs)
Last
week
Last
month
Last
year
*CAGR
Since inception
Pru ICICI FMCG (Gr)10.2-1.9%6.4%-15.6%-0.5%
Magnum Sector Funds-FMCG8.4-2.8%3.8%-34.8%-10.0%
K P FMCG (Gr) 12.1-3.3%8.0%-12.6%13.6%
*CAGR=Compounded Annual Growth Rate

There was selective buying in FMCG (fast moving consumer goods) stocks. Hindustan Lever and Nestle were top FMCG gainers, whereas Colgate and ITC witnessed a decline. After a couple of weeks in the limelight, FMCG stocks seem to have lost their sheen and have returned to their old ways.

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