Indian equity benchmark -- Nifty -- ended Tuesday’s trading session with minor losses as traders booked some profit after two sessions of continued gains. Index made a positive start, as traders got some support after foreign institutional investors turned net buyers in Indian markets on Monday, provisional exchange data showed, snapping a record selling streak that had partly caused the country's benchmark indexes to confirm corrections earlier this month. FIIs were net buyers of stocks worth Rs 9,948 crore ($1.18 billion), after 38 consecutive sessions of being net sellers during which outflows totalled to about $16.5 billion.
However, index turned volatile in late morning session, as investors were cautious with the finance ministry’s report stating that India's economic outlook for the coming months is cautiously optimistic, with agriculture likely to benefit from favourable monsoon conditions, increased minimum support prices and adequate supply of inputs. In afternoon session, index slipped near day’s low point, as traders remained cautious with a private report stating that India's economy likely grew at its slowest pace in one-and-a-half years in the three months to end-September as weak consumption offset a strong recovery in government spending, which for years has helped drive growth. In last leg of trade, index trimmed most of its losses but ended below its neutral line.
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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