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Indian rupee ended higher against dollar on Tuesday despite muted trend in domestic equities. Traders took support with finance ministry’s statement that the India is expected to become the third-largest economy in the world with a GDP of $5 trillion in the next three years and touch $7 trillion by 2030 on the back of continued reforms. Besides, Union Minister of Agriculture & Farmers’ Welfare and Tribal Affairs, Arjun Munda said that the agriculture sector in the country is making an important contribution to the economy and livelihood of crores of people. 54.6% of the country's workforce is engaged in agriculture and allied sectors’ activities. The share of agriculture sector in GDP is 18.6%, while the sown area is 139.3 million hectares, out of the total geographical area of the country. On the global front, euro edged lower on Tuesday after data showed the euro zone narrowly avoided a technical recession in the fourth quarter, while the U.S. dollar edged higher, as traders awaited the Federal Reserve's monetary policy decision this week. Gross domestic product (GDP) in the 20 countries sharing the euro was flat in the fourth quarter against the previous three months, mainly thanks to strong growth in Spain and Portugal and a modest increase in Italy, while the German economy shrank in the final three months of 2023.
Finally, the rupee ended at 83.11 (Provisional), higher by 5 paise from its previous close of 83.16 on Monday. The currency touched a high and low of 83.15 and 83.10 respectively.
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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