Indian equity benchmark -- Nifty -- ended Monday’s trading session on a higher note supported by buying in most of the sectors and heavyweights’ stocks. Index made a positive start and extended its gains, as investors took support after India has made significant progress in technology and innovation, securing the 49th rank in the Network Readiness Index 2024 (NRI 2024), an improvement of 11 places compared to last year. This year, the country not only climbed the rankings but also improved its overall score to 53.63, reflecting its consistent efforts in advancing technology, research, and digital infrastructure. In afternoon session, index came off from day’s high point but remained higher till end of the day, as traders paid no attention towards the report that Monetary Policy Committee (MPC) Member Nagesh Kumar said the ongoing economic slowdown in the country has become serious enough to demand immediate policy attention. Advocating for 25 basis points (bps) cut in the repo rate during the December MPC meeting, he highlighted the urgent need to address the dual challenges of declining growth and inflationary concerns.
Most of the sectorial indices ended in green except Media, Auto and Healthcare stocks. The top gainers from the F&O segment were JSW Steel, ITC and Hindalco Industries. On the other hand, the top losers were Hero Motocorp, Maruti Suzuki India and HCL Technologies. In the index option segment, maximum OI continues to be seen in the 24900 - 25100 calls and 23400 - 23600 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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