The advent of Web 2.0 has enabled users to fetch global news easily and provided them a platform to express their opinions about the same openly. This has vastly impacted the economic behaviors of people to invest in the stock market globally. People have shown greater interest toward this market news and tend to study the price trend. This research endeavor seeks to examine the influence of events and news on specific mutual funds. For these three equity mid-cap funds viz. UTI, ICICI Prudential and Quant are considered. Four events (Silicon Valley Bank Collapse, BRICS SUMMIT, Israel–Hamas War, Adani Case Dismissal) have been taken from 2023. An analytical technique called event study is employed to look at how events affect mutual fund performance. For research purposes, a 45-day period—that is, 22 days prior to and 22 days following the event day—is chosen. The findings show that these occurrences have an impact on mutual funds’ volatility performances, which in turn has an impact on their NAV. A positive event shows an increasing trend line while a negative event shows a declining trend line on the various funds.