Nifty Commodities News Today

The last trading day of the week saw the index swinging wildly. During the week, the Nifty oscillated in a 446.65 range before closing the week on a flat note. The benchmark Index posted minor weekly gains of55.90 points.

Energy & power based mutual funds gave an average return of 8.39% in the last one month, data crunching by ETMutualFunds showed. There were around four schemes in this category that have completed one month or existence in the market.

Gold and Silver commodity mutual funds have outperformed equity funds in the latest month. Notable performers include Invesco India Gold ETF FoF and Aditya Birla SL Gold Fund. Silver funds led by UTI Silver ETF FoF showed significant returns.

Energy & power funds are benchmarked against S&P BSE Oil & Gas Index, Nifty Infrastructure Fund, and Nifty Commodities - TRI which gave 13.63%, 22.95% and 20.93% respectively in five years. Pharma & healthcare funds are benchmarked against S&P BSE HealthCare - TRI, and NIFTY PHARMA - TRI which gave 20.75% and 16.51%, respectively.

If the markets show any incremental upmove, more emphasis and focus would be needed to book and protect profits rather than making new purchases.

Quant Mutual Fund announced the launch of the Quant Commodities Fund. The scheme opened for public subscription on December 08, 2023, and will close on December 22, 2023.

This was a 15-year high, seen previously only in 2007. This sent the equity markets into a tailspin. The markets remained under strong corrective pressure for three sessions in the truncated week, with the last trading day seeing a technical rebound.

The minimum application amount for all these three schemes is Rs 5,000 and in multiples of Re 1 thereafter.

The volatility gauge, INDIA VIX, showed a marginal increase of 3.08% to 10.62 on a weekly basis. It remains within a striking distance of 10.14, the lowest level seen on this indicator so far. This remains a point of concern as this will keep the market exposed to profit-taking bouts.

The highlight of the week was the surging US 10-YR yields that put pressure on global equities and India was resilient, but no different. The markets went on to test key support levels on the weekly charts and experienced a technical rebound from there.