Mutual Funds NAVs soar as markets end higher

Equity Mutual Funds advanced as the markets closed higher on broadbased buying.

Equity Mutual Funds advanced as the markets closed higher on broadbased buying. After end of November series with a 3 percent loss, the opening of December series was quite spectacular with the equity benchmarks gaining more than a percent on Friday. All the funds in the equity domain advanced with no decline.

The rally may be in anticipation of positive outcome in five state assembly elections due on December 8, feel experts. They believe these elections results will be a big trigger for the market in near term and also the deciding factor for general elections that is six months away.

The 50-share NSE Nifty rallied 84.25 points to close at 6,176.10 and the 30-share BSE Sensex rose 257.02 points to 20,791.93.

Among Fixed Income space, Long term debt funds and Gilt Long Term fund ended with negative returns as Government bond prices fell on Friday, hurt by a weak rupee and higher-than-excepted cutoff yields at a weekly auction, with economic growth data likely to give direction to yields next week.

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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