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Indian equity benchmark -- Nifty -- ended Tuesday’s trading session on a higher note, supported by positive retail inflation data. After making a cautious start, soon index traded above neutral line, as traders took support with the government data showing that retail inflation eased to an 11-month low of 4.83 per cent in April as prices of some kitchen items declined though overall food basket firmed up marginally. The Consumer Price Index (CPI)-based retail inflation was 4.85 per cent in March. Traders took a note of report that the government is working on a verification system to help exporters deal with countervailing duty cases on domestic products over the RODTEP scheme. The exercise is important as countervailing or anti-subsidy duties were imposed on certain domestic units by the US and European Union (EU).
In afternoon session, index extended its gains to trade near day’s high point, as traders got some encouragement after the union ministry of ports, shipping, and waterways said that India and Iran signed a 10-year long-term bilateral contract for the operation of Chabahar Port, a vital cog in India’s trade plans with central Asia and parts of Europe. Under the agreement – signed between India Port Global Limited (IPGL) and the Ports and Maritime Organization (PMO) of Iran - India will develop the strategic port for 10 years. Finally, index ended in positive terrain with over half a percent gains.
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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