Indian equity benchmark -- Nifty -- ended Friday’s trading session with minor losses ahead of key macro-economic data next week. After making cautions start, soon index turned volatile amid Reserve Bank of India (RBI) kept key interest rates unchanged due to ‘high inflation’. The central bank has maintained the key policy repo rate at 6.5 per cent. This is for the 11th consecutive time that the RBI has kept the repo rate unchanged. The RBI has maintained the repo rate at 6.5 per cent since February 2023. Besides, the RBI has cut real Gross Domestic Product (GDP) growth forecast for FY25 to 6.6% from 7.2% earlier. Also, it has revised the CPI inflation forecast for FY25 to 4.8% from 4.5% earlier.
In afternoon session, index wavered between green and red, as some concern also came after India Ratings and Research’s report stated that the current account deficit (CAD) for the September quarter is set to widen to 1.6 per cent, the most in the last seven quarters. Investors overlooked private report that Union finance minister Nirmala Sitharaman said the sharp decline in the growth of gross domestic product (GDP) in the September quarter is ‘not systemic’ and revealed that she expects it to pick up in the third quarter. Finance minister expressed confidence that India's economic growth won't be badly affected despite reporting a seven-quarter low GDP of 5.4 percent. Finally, market ended just below its neutral line in volatile trading session.
Traders were seen piling up positions in Metal, Consumer Durables, and Auto stocks, while selling was witnessed in Media, IT and Bank. The top gainers from the F&O segment were Multi Commodity Exchange of India, Delhivery and Vedanta. On the other hand, the top losers were Can Fin Homes, Computer Age Management Services and Mahindra & Mahindra Financial Services. In the index option segment, maximum OI continues to be seen in the 25900 - 26100 calls and 23900 - 24100 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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