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India’s services sector activity rose to one of strongest rates since mid-2010 in March, as buoyant demand for Indian services created a cascade of positivity for the sector. March saw one of the strongest expansions in total sales and business activity in close to 14 years, helped by a series record upturn in new export orders. According to the survey report, the seasonally adjusted HSBC India Services PMI Business Activity Index surged to 61.2 in March from 60.6 in February. Further, the HSBC India Composite PMI Output Index -- which measures both manufacturing and services -- also jumped to 61.8 in March as against 60.6 in February.
The report highlighted increased pressure on the capacity of service providers, which in turn supported the joint-fastest rise in employment since November 2022. Amid higher labour and material costs, there was a further increase in overall expenses at services firms. The rate of input price inflation was marked, faster than that seen in February and above its long-run average. The combination of rising cost pressures and demand strength encouraged companies to lift their selling prices in March. The rate of charge inflation climbed to its highest mark since July 2017.
Besides, services companies indicated that the substantial upturn in new business volumes added pressure on their capacities. Pending workloads rose for the twenty-seventh month running, and to the greatest extent since the start of 2023. Further, business sentiment remained strongly positive, but slipped to a four-month low. On the plus side, firms expect demand trends to remain favourable, with marketing efforts also seen as a growth opportunity. There were, however, some concerns surrounding competitive pressures.
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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