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Indian equity benchmark -- Nifty -- ended Wednesday’s trading session on flat note, ahead of weekly F&O expiry. Index made negative start, amid foreign fund outflows. FIIs sold shares worth Rs 3,668.84 crore on May 7. There was some cautiousness as an industry wise analysis of the National Accounts Statistics 2024 data showed gross capital formation (GCF) - or investment - in manufacturing, construction, and mining sectors contracted in FY23 primarily due to a fall in export demand and low private consumption during the year. Besides, the Ministry of Statistics and Programme Implementation (MoSPI) it its National Account Statistics 2024 has said that net household savings declined sharply by Rs 9 lakh crore to Rs 14.16 lakh crore in three years to 2022-23.
In early afternoon session, index cut all of its losses and traded above neutral line, as market participants got some support with government's chief economic adviser -- V. Anantha Nageswaran’s statement that India does not see any nasty upside to inflation at the moment, and expects its economy to expand by more than 7 per cent in the current fiscal year. Traders got relief, after Fitch Ratings said that the potential big foreign inflows into Indian bonds will help the rupee recover from near a record low, but the nation’s central bank is likely to limit the extent of gains. In last leg of trade, index traded near neutral line and ended on flat note.
Traders were seen piling up positions in Oil & Gas, Auto and Metal, while selling was witnessed in Private Bank, Bank and IT. The top gainers from the F&O segment were Bharat Forge, Crompton Greaves Consumer Electricls and REC. On the other hand, the top losers Voltas, Pidilite Industries and Canara Bank. In the index option segment, maximum OI continues to be seen in the 23400 - 23600 calls and 21900 - 22100 puts indicating this is the trading range expectation.
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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