When the markets crawl, so do diversified growth funds. Both the major indices  BSE Sensex and S&P CNX Nifty, showed negligible growth during the week, which was reflected in the last week's performance of diversified growth funds.

Open-ended, Growth Funds	NAV (Rs)	Last week	Last month	Last year	Since inception
BSE - 30		-0.31%	-10.60%	-13.20%	-
S&P CNX Nifty		0.40%	-10%	-6.20%	-
S&P CNX 500		-1.65%	-12.40%	-6.90%	-
Grandmaster 1993	10.0	2.70%	-3.40%	-28.70%	-1.00%
Primary Equity Fund	15.2	1.70%	-3.40%	-14.00%	7.90%
JM Equity Fund (Gr)	10.2	1.60%	-10.10%	-20.20%	1.00%
Mastershare Plus 1991	20.6	1.30%	-7.00%	-19.40%	4.20%
K 30	17.7	1.30%	-11.60%	3.80%	34.20%
Mastergain 1992	10.9	1.20%	-5.80%	-19.40%	2.60%
Zurich(I) Equity (Gr)	19.0	1.10%	-10.50%	0.70%	13.00%

(The above table shows only diversified growth funds with over 1% growth in the last week)

The markets were very lukewarm last week after the news of the petrol price hike, with only pharma stocks witnessing some buying interest. IT (information technology) stocks went nowhere and given the fact that diversified growth funds have high exposure to IT, NAVs (net asset values) remained subdued, showing little or no growth.

As software majors (Infosys, Satyam) prepare to declare their quarterly results, this could trigger some buying interest, at least in software, on news of strong profit growth, which in turn could propel the some of the other sectors as well. NAVs of diversified growth funds are expected to perk up on buying in software. However, given the volatile nature of the markets over the past few months, buying is unlikely to be sustained beyond a few days.

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