Higher than average returns, lower risk and a well diversified portfolio make these funds a sound proposition.
For any long-term term investor, it is always advisable to have well-diversified large-cap funds as core holdings in your portfolio.
Stocks from the food processing sector and of companies trading in rice, dairy products, edible oils and food items outperformed markets by gaining 10-50 per cent.
If your interest income from bank fixed deposits falls well under the tax-exempt limit, tax deduction at source (TDS) can be avoided by submitting the details in Form Number 15A with the bank.
Equity funds' exceptional performance was obviously due to the stock market rally that was led by small and mid-cap stocks. Realty, banks and consumer goods companies emerged as top gainers.
The 30-scrip BSE Sensex is expected to fall to the 9,000 level by mid-2009, according to Indian Market Strategy, a report by Credit Suisse released on Friday.
The aggregate net profit of banks during the quarter ended December 31, 2007, has registered a 41.5 per cent growth largely due to lower provisions and strong growth in other income. Other income rose a healthy 51.48 per cent, while provisions and contingencies registered a marginal 3.87 per cent rise. Interest income has increased by 34.52 per cent, while interest expenditure moved up by 44.57 per cent.
According to a Credit Suisse report, the steep Sensex fall has validated two fears: (1) The Indian market is linked to global developments; and (2) Foreign flows are the biggest drivers of the market.
History shows that the large caps stage a fast recovery, whereas penny stocks continue to languish in the aftermath of a market crash. For instance, 884 penny stocks (those trading below their paid-up value and comprising 31.5 per cent of all traded stocks) have not yet seen their highs of May 10, 2006.
In the last six trading days, the Sensex, BSE's benchmark index, has declined a record 3,222.10 points - from 20,827.45 to 17,605.35. The total market capitalisation of the actively-traded stocks fell by Rs 11,85,687 crore (Rs 11.85687 trillion) to Rs 59,53,526 crore (Rs 59.53526 trillion).
Three sectoral indices -- Realty Index, Oil and Gas Index, and Bankex -- led the sharp fall in stock prices in the last five days, which saw the Bombay Stock Exchange's Sensex suffer its sharpest ever continuous drop. The three indices fell nearly 9 per cent each between January 14 and January 18, 2008. Power, metals, IT, capital goods and consumer goods indices also declined by 5-8 per cent during the week.
According to Thomson Financial, India's IPO volumes totalled $7 billion from 74 issues so far this year, surpassing the previous year's (the whole year) IPO volumes. India now ranks the ninth largest IPO market in the world, capturing 3 per cent of the global market share, up from a mere 1.3 per cent share in the year-ago period.
The best way to invest in the market is through discipline and consistency as no one knows where the market is headed.
The fast moving consumer goods index was the lone survivor -- gaining 3.24 per cent. Tobacco-to-hotels major ITC rose on account of its better-than-expected quarterly results.
Friday's fall of 541.74 points in the Sensitive Index of the Bombay Stock Exchange ranks fourth in absolute terms and 12th in percentage terms.
DLF, with Rs 1,14,745 crore (Rs 1,147.45 billion) market capitalisation, has grabbed the seventh position, relegating Infosys, with Rs 1,11,357 crore (Rs 1,113.57 billion) m-cap, to the eighth position.
Shanghai tops returns charts among emerging markets.
The year saw as many as 86 IPOs followed by listings, of which 52 are available at a discount.
With seven of the nine public offers listed last week flopping on debut, the days of making money through public issues seem to be over. Last week's wasn't a one-off case.
Foreign institutional investors turned net sellers in the entire previous week after a gap of nine months. FIIs were net sellers to the tune of Rs 3,693.50 crore ($833.28 million) in the last five trading days between February 26 and March 2.
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