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Indian equity benchmark -- Nifty -- ended Friday’s trading session with over half a percent cut, amid a hotter than expected increase in US wholesale inflation. After making slightly negative start, soon index extended its losses, amid foreign fund outflows. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,356.29 crore on Thursday, according to exchange data. Traders remained cautious with report by global rating agency Moody’s asserting that the large number scheduled elections in various countries in 2024 increases risks of shifts in policy and policy effectiveness. It argued while elections rarely immediately affect sovereign credit ratings, they can result in credit positive or negative developments - like changes in the policymaking process and legislative composition - which according to it ultimately alter a sovereign’s economic and fiscal trajectories.
Index remained lower till the end, as traders were cautious with the commerce ministry stating that India's merchandise trade deficit widened to $18.71 billion in February from $17.49 billion in January. The trade deficit stood at $16.57 billion in February 2023. While the trade deficit widened in February, exports rose by 11.9 percent to $41.40 billion, while imports increased by 12.2 percent on a year-on basis to $60.11 billion. Traders overlooked an industry body the Confederation of Indian Industry’s (CII) report 'Unicorn 2.0: Adding the Next Trillion' stating that new unicorns are likely to add $1 trillion to the Indian economy, which would reach $7 trillion size by 2030, and add 50 million new jobs.
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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