Indian equity benchmark -- Nifty -- ended Thursday’s trading session near day’s high point on April F&O expiry. After making a negative start, index altered between red and green during morning deals, as traders were cautious, after credit rating agency, India Ratings and Research (Ind-Ra) in its latest report has said that the demand for industrial credit from corporates with capex plans is expected to remain muted, due to strong cash flows, modular nature of investments and flexibility to tap equity markets. Besides, foreign fund outflows dented the sentiments. Foreign institutional investors (FIIs) net sold shares worth Rs 2,511.74 crore on April 24, 2024 provisional data from the NSE showed.
In afternoon session, index entered into green and traded near day’s high point, as traders took some support with the Comprehensive Economic Partnership Agreement (CEPA) Council Director Ahmed Aljneibi’s statement that the trade between India and UAE increased 15 per cent since the implementation of the free trade agreement in May 2022 and the both are on track to surpass the target of $100 billion in non-oil trade by 2030. Traders took note of report that RBI Monetary Policy Committee (MPC) member Ashima Goyal said the problem of high food inflation will be 'less severe' in India going ahead, as modern supply chains with diversified sources can help quickly address sudden spikes in prices of specific food item. Finally, index ended on higher note and settled above 22550 mark.
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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