It was the turn of Pharmaceutical and Technology Funds this week, the fund categories danced to the tune of Sensex and Nifty which were up 4.17% and 3.5%, respectively. On an average, Pharma and IT category funds returned 4.26% and 3.51%, for the week ended May 16, 2008.
In the equity category, Pharma funds gained the most, while FMCG gained the least. The FMCG category funds moved a pathetic 0.67% as against the index shift of over 2%. The banking category funds gained 3.37%, followed by Tax Planning which was up by 2.80%. The Equity Diversified category moved up 2.67%.
Last week's top performer, Gold ETFs returned 2.74% this week. In the 1-month return category, banking funds continue their dominance with a handsome return of 8.39% and Gold ETFs in the 1-year category with 35.87% returns. Despite a decent show in the recent past, tech funds are still the worst performer in the 1-year return category.
Magnum Pharma of the Equity: Pharma clan gained the most - 6.46%, while Reliance Pharma the least - 3.22%. Franklin Infotech in the Technology funds category gained 4.91%, while ICICI Prudential could manage only 2.38%. In the Equity Diversified category, Lotus AGILE and Templeton India Equity fund were the front runners with returns of 6.68% and 5.50% for the week ended May 16, 2008. In the Index fund category , Banking BeES was up 4.72% and LICMF Index Sensex was up 4.32%.
On May 13, 2008, the capital market watchdog - SEBI, decided to shorten the payment process in public and rights issue. The board gave in principle approval to the concept of marking lien on bank account as an alternative mode of payment in public/rights issues. The concept will enable the application money to remain in the bank account of the applicant till such time the allotment is finalized, eliminating the refund process and hence reducing the timeframe of the entire process.
While the Sensex has moved range bound, furthering weakening of rupee, which many experts do believe can spark a rally in IT and Pharma stocks.
In the equity category, Pharma funds gained the most, while FMCG gained the least. The FMCG category funds moved a pathetic 0.67% as against the index shift of over 2%. The banking category funds gained 3.37%, followed by Tax Planning which was up by 2.80%. The Equity Diversified category moved up 2.67%.
Last week's top performer, Gold ETFs returned 2.74% this week. In the 1-month return category, banking funds continue their dominance with a handsome return of 8.39% and Gold ETFs in the 1-year category with 35.87% returns. Despite a decent show in the recent past, tech funds are still the worst performer in the 1-year return category.
Magnum Pharma of the Equity: Pharma clan gained the most - 6.46%, while Reliance Pharma the least - 3.22%. Franklin Infotech in the Technology funds category gained 4.91%, while ICICI Prudential could manage only 2.38%. In the Equity Diversified category, Lotus AGILE and Templeton India Equity fund were the front runners with returns of 6.68% and 5.50% for the week ended May 16, 2008. In the Index fund category , Banking BeES was up 4.72% and LICMF Index Sensex was up 4.32%.
On May 13, 2008, the capital market watchdog - SEBI, decided to shorten the payment process in public and rights issue. The board gave in principle approval to the concept of marking lien on bank account as an alternative mode of payment in public/rights issues. The concept will enable the application money to remain in the bank account of the applicant till such time the allotment is finalized, eliminating the refund process and hence reducing the timeframe of the entire process.
While the Sensex has moved range bound, furthering weakening of rupee, which many experts do believe can spark a rally in IT and Pharma stocks.
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