Indian equity benchmark -- Nifty -- ended Monday’s trading session with minor losses ahead of key macroeconomic data i.e. inflation and Index of Industrial Production (IIP) data. After making cautious start, soon index slipped into red, amid foreign fund outflows. Foreign institutional investors (FIIs) offloaded equities worth Rs 1,830 crore on December 6. Some cautiousness came as industry body CII has suggested the government to stick to the fiscal deficit target of 4.9 per cent of GDP for 2024-25 and 4.5 per cent for 2025-26, cautioning that overly aggressive targets beyond these could adversely affect India's economic growth. However, index trimmed most of its losses in late afternoon session, as investors were getting some relief after Union Education Minister Dharmendra Pradhan asserted that India will become a $30 trillion-economy by 2047. Pradhan said that India, the fastest-growing global economy, is currently in the fifth position and will bag the third spot in the next three years.
In afternoon session, index unable to hold its gains and again entered into red, as sentiments were downbeat after SBI forecasted India's GDP growth at 6.3%, lower than RBIs projection of 6.6% for FY25 in its latest report. Adding some worries, a private report stated that the political turmoil in Bangladesh has slowed down exports of gem and jewellery, imitation jewellery, engineering goods and oilmeals from India. The raw cotton, cotton yarn and textiles exporters are facing delays in payments, even though the buyers are depositing payments in local currency Bangladeshi Taka. Finally, index ended in a negative territory with losses of 58.80 points, led by selling in blue-chip stocks.
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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