Indian equity benchmark -- Nifty -- ended Wednesday’s trading session with cut of over half a percent ahead of the outcome of the two-day Federal Reserve meet later today. Fed is likely to deliver a 25-basis-point interest rate cut. After making a cautious start, soon index extended its losses, amid foreign fund outflows. Foreign institutional investors (FIIs) extended their selling as they sold equities worth Rs 6,409 crore on December 17. Some concern also came as the Global Trade Research Initiative (GTRI) stating that India's gold imports have surged alarmingly, posing a potential threat to its trade balance and economic stability, and the government should take action to address this issue. It said the imports are driven by multiple factors, including growing investment demand, tariff reductions, and loopholes in trade agreements and this surge has raised significant economic concerns, distorting the trade balance, weakening the rupee, and widening the current account deficit.
In afternoon session, index continued to trade in red and remained lower till end of the day, as traders were cautious with a private report stating that India’s foreign aid has dipped post-pandemic but has also become more varied than before. The average aid per annum declined to Rs 5,011 crore in the four years since FY22 as compared with Rs 5,805 crore in the four years leading up to Covid. Besides, US President-elect Donald Trump has set the stage for a potential trade conflict with India, threatening to impose reciprocal tariffs if the country continues to levy high taxes on American goods.
Most of the sectorial indices ended in red except IT, Pharma and Healthcare stocks. The top gainers from the F&O segment were Indraprastha Gas, Aurobindo Pharma and Trent. On the other hand, the top losers were Piramal Enterprises, NMDC and PVR INOX. In the index option segment, maximum OI continues to be seen in the 24900 - 25100 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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