Pharma firms top performers last week

Pharmaceutical sector funds, with 4.01 per cent average return, topped charts across scheme categories for the week to Friday.

However, BSE Healthcare Index gained only 3.64 per cent. Among debt schemes, gilt funds improved their performance with 0.28 per cent average return.

Among pharmas, Magnum Pharma stood first with 6.72 per cent return followed by UTI Pharma & Healthcare Fund with 4.21 per cent return.

Auto sector funds, the second best performers, registered 3.76 per cent return, led by rally in select automobile stocks on the back of robust sales figures for March. BSE Auto Index rose 1.94 per cent, last week.

Shares of Ashok Leyland surged 7.32 per cent while that of Maruti Udyog and Mahindra & Mahindra rose 2.28 per cent and 4.10 per cent respectively.

M&M, in March, sold 23,720 vehicles, up 13 per cent on year, while Maruti saw 16 per cent sales growth. Ashok Leyland gained 7.44 per cent on the back of company's announcement that it expects to maintain last year's sales growth. For the first 11 months of last financial year, the company sold 53,078 vehicles, up 12.2 per cent on year.

Among other sector-specific schemes, technology sector and fast-moving consumer goods funds recorded 2.91 per cent and 1.92 per cent average returns respectively.

Infosys shares rose 6.2 per cent last week on expectations of bonus announcement and robust March quarter results.

Magnum IT (5.54 per cent return) was the top technology sector fund, while Pru-ICICI FMCG Fund (2.23 per cent return) was the best performer among FMCGs.

Compared with 1.92 per cent average return recorded by FMCG funds, BSE FMCG Index rose 2.69 per cent.

Diversified equity funds and ELSS gave 3.33 per cent and 3.08 per cent average return respectively.

Among diversified equity schemes, the top three schemes were Taurus Starshare (7.35 per cent return), Magnum Global (6.64 per cent return), and Magnum COMMA Fund (6.57 per cent return).

Among tax-saving funds, Pru-ICICI Tax Plan stood first with 7.43 per cent return, while HDFC Taxsaver followed with 5.45 per cent.

Index funds recorded 1.88 per cent average return. In comparison, Sensex and Nifty gained 2.74 per cent and 1.54 per cent respectively.

CanIndex (3.81 per cent return) stood first followed by Nifty Junior BeES with 3.71 per cent. LIC MF Index-Nifty Plan was the only scheme to see 1.32 per cent negative return.

The active 8.07 per cent, 2017 gilt ended at 7.54 per cent yield compared with 7.5328 per cent yield-to-maturity last week. Gilt funds that had recorded negative return in week to Mar. 31, improved their performance last week with 0.28 per cent average return. The best performing gilt fund was BOB Gilt-Provident Fund Plan, which gave 1.88 per cent return.

Liquid funds registered 0.12 per cent average return followed by short- and long-term floaters with 0.11 per cent and 0.10 per cent average returns respectively.