Mutual Funds decline on fall in markets

Mutual Funds closed in red as markets decline led by RBI decision to hike the repo rate..

Mutual Funds closed in red as markets decline led by RBI decision to hike the repo rate came as a nasty surprise for equity investors, who were expecting the new governor to take a positive view of the economy. All the funds in the equity domain decline. Funds in the broader market space like Large cap and Small & Mid cap were the worse ones to perform.

On the sectoral front, Technology and Pharma & Healthcare categories ended with mixed returns, while rest of the sector funds closed in red.

The Sensex closed at 20263.71, down 382.93 points over the close after touching a low of 20051.43 intra-day. The Nifty shed 103.45 points to close at 6012.10 after falling to 5932.85 intra-day.

The fixed income funds, barring Ultra Short Term Debt fund all other categories slumped as the Federal bonds, rupee and stocks extended losses on Friday after the central bank unexpectedly raised the key policy rate by 25 basis points to 7.50 per cent. The 10-year bond yield rose 18 basis points to 8.36 per cent from levels before the decision.

Check out all mutual fund gainers & losers

Here is the day's performance and the gainers and losers across categories.

Equity diversified: Top gainers

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