You are here: Home » Markets » News
Business Standard

Equity schemes gain big, thanks to stock market rally and strong auto sales

Expectations of income tax cuts and tax relief for equity investors have further fuelled the market rally

Jash Kriplani  |  Mumbai 

markets, stock, stock rally
Illustration: Ajay Mohanty

The recent market rally has led to robust returns for equity schemes. Among the diversified equity funds, large-cap schemes have clocked returns of 9.6 per cent since September 19, when the benchmark Nifty had slipped to a 7-month low. Since then, mid-and small-cap schemes have yielded returns of 7.5 per cent and 5.4 per cent, respectively. The trigger for the recent rally was the corporation tax cut announced on September 20.

Since then, the Nifty is up 10 per cent. Among individual equity schemes, Quant Active Fund has clocked returns of 16.5 per cent, followed by Quant Tax Plan (13.4 per cent), DSP Top 100 (13.7 per cent), Nippon India Tax Saver (13.7 per cent), DSP Focus Fund (13.6 per cent) and Motilal Oswal Long-Term Equity (13.3 per cent).

Equity schemes gain big, thanks to stock market rally and strong auto sales

Expectations of income tax cuts and tax relief for have further fuelled the market rally. Strong auto sales in the festive season have added to the positive sentiment.

First Published: Fri, November 01 2019. 02:07 IST
RECOMMENDED FOR YOU