Indian rupee ended lower against the U.S. dollar on Friday weighed down by a massive sell-off in domestic equities and a strong greenback against major crosses overseas. Traders were cautious with a private report that India's consumer price inflation likely eased to a five-month low of 4.91% in March but was still above the Reserve Bank of India's (RBI) 4% medium-term target as food price rises persist. Traders paid no heed towards report that the Asian Development Bank (ADB) raised India's GDP growth forecast for the current fiscal to 7 per cent from 6.7 per cent earlier, saying the robust growth will be driven by public and private sector investment demand and gradual improvement in consumer demand. On the global front, euro dropped to its lowest level since mid-November on Friday after the European Central Bank signalled it could cut rates as soon as June even with a hot U.S. economy likely forcing the Federal Reserve to wait until later in the year.
Finally, the rupee ended at 83.48 (Provisional), weaker by 17 paise from its previous close of 83.31 on Wednesday. The currency touched a high and low of 83.48 and 83.36 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.
Buy quality Stocks when they are available at reasonable prices and supported by an upward price trend and Sell when they are Overvalued using the Decizen Rating System. Covers 3500+ stocks
Download APP
