While buying units of an Equity Based Mutual Fund online there was NAV displayed and I calculated the Units I could get on dividing the amount I was investing by the displayed NAV. After 2 days I got the Statement and found that the no of Units were less than I expected by almost 1% and off course the NAV for the transaction was higher by 1% than the displayed NAV.
I found that the NAV displayed while I bought the Units was for the previous day whereas for transactions of Equity Based Mutual Funds the NAV of that day (which is actually declared around 9 PM) applies. Incidentally the Equity Market Indexes (like NSE 50) went up that day and the Securities into which that Mutual Fund had invested went up thereby the NAV went up by 1%.
That led me to look at NSE 50 Index e.g. it closed at 8738.10 on 3-Oct-2016 yesterday and at 8769.15 today going up by 31.05 points (0.35%). So you can expect NAV of Equity based Mutual Funds to go up today from 0.1% to 0.4%. The Market does not always go up and it goes down as well due to various reasons including News like Surgical Strikes by India on Launchpads of terrorists near LOC in PoK on 29-Sep-2016 when NIFTY 50 closed at 8591.2 which is 153.9 points (1.76%) below the previous day close of 8745.15. Fortunately the Market started recovery on the next day and after the Market reopened after weekend it recovered further and today it has closed at 8769.15 which is higher than 8745.15 (28-Sep-2016 closing).
The markets varies throughout the day but it is the closing value which matters for the Mutual Funds.
Forget about NIFTY 50 you are interested in the increase in NAV of Mutual Funds in which you have invested and the value of your investment. Well the best way is to install one of the Android Application for Mutual Funds Portfolio which updates automatically in the night after NAVs are announced for the day.
I am using My Funds - Portfolio Tracker Android Application for monitoring my Mutual Funds and Shares investment primarily because I can export the updated file to Excel and see it on my Laptop.
I found that the NAV displayed while I bought the Units was for the previous day whereas for transactions of Equity Based Mutual Funds the NAV of that day (which is actually declared around 9 PM) applies. Incidentally the Equity Market Indexes (like NSE 50) went up that day and the Securities into which that Mutual Fund had invested went up thereby the NAV went up by 1%.
That led me to look at NSE 50 Index e.g. it closed at 8738.10 on 3-Oct-2016 yesterday and at 8769.15 today going up by 31.05 points (0.35%). So you can expect NAV of Equity based Mutual Funds to go up today from 0.1% to 0.4%. The Market does not always go up and it goes down as well due to various reasons including News like Surgical Strikes by India on Launchpads of terrorists near LOC in PoK on 29-Sep-2016 when NIFTY 50 closed at 8591.2 which is 153.9 points (1.76%) below the previous day close of 8745.15. Fortunately the Market started recovery on the next day and after the Market reopened after weekend it recovered further and today it has closed at 8769.15 which is higher than 8745.15 (28-Sep-2016 closing).
The markets varies throughout the day but it is the closing value which matters for the Mutual Funds.
Forget about NIFTY 50 you are interested in the increase in NAV of Mutual Funds in which you have invested and the value of your investment. Well the best way is to install one of the Android Application for Mutual Funds Portfolio which updates automatically in the night after NAVs are announced for the day.
I am using My Funds - Portfolio Tracker Android Application for monitoring my Mutual Funds and Shares investment primarily because I can export the updated file to Excel and see it on my Laptop.
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