Mutual Funds decline as markets end lower

Equity Mutual Funds declined as market remained in bear trap for the seventh consecutive session on Wednesday, dented by weakness in global peers on uncertainty over Fed tapering...

Equity mutual funds declined as market remained in bear trap for the seventh consecutive session on Wednesday, dented by weakness in global peers on uncertainty over Fed tapering. Choppy market saw selling pressure in last couple of hours of trade today. None of the funds in the equity domain could withhold market pressure amid volatile condition and closed in red.

The 50-share NSE Nifty closed below the 6000-mark for the first time since October 8 at 5,989.60, down 28.45 points from previous close. The Sensex declined 87.51 points to 20,194.40.

On Fixed Income front, debt mutual funds posted some gains after some recovery was seen in the debt market. The government bonds posted their best single-day gain in five weeks on Wednesday after the central bank chief sought to reassure investors that the Reserve Bank of India would provide the market necessary rupee liquidity.

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