Mutual Funds gain on market recovery

Equity Funds soar on Thursday as equity benchmarks delivered good performance. The brokers, however, feel that the volatility will be continued in near term weighed down by global and domestic weak macro-economic fundamentals. Equity funds across categories including sector and Hybrid space excelled registering no decline. FMCG and Technology emerged as the star performer.

The Sensex is now at 19561.79, up 155 points over the previous close, and the Nifty is now at 5884.85. up 48.70 points over the previous close

On the Fixed income front, debt funds recovered handsomely with no losers in any category. Rupee depreciation and rising crude prices will further decide the movement of debt funds.