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The Indian market is expected to open flat-to-higher on Friday tracking muted trend seen in other Asian markets.

After a stunning rally in the global equity market over the past two days, stocks collectively took a breather ahead of the weekend. US Stocks traded range bound overnight weighed down by an abrupt halt to the rally in oil prices, which failed to hold on to the crucial $50 mark. The Dow Jones ended 23.22 points lower.

The most awaited speech since the US Federal Reserve's FOMC meeting way back in April, the Fed chief will speak at Massachusetts on Friday night as investors look on for clues to a rate hike.
Power Grid: The state-run company posted a 13.2 per cent jump in standalone net profit at Rs 1,599.05 crore for the March quarter on higher revenues from power transmission business.

Jet Airways: Jet Airways posted its first annual net profit after eight years and its fourth straight quarterly net profit helped by lower fuel expenses and its own cost control measures.

ONGC: Oil and Natural Gas Corporation's fourth quarter profit jumped 12% mainly on reversal of impairment loss as well as lower provisioning for dry wells.

Deepak Fertilisers: The company reported a 5 per cent decline in net profit at Rs 25.92 crore for the fourth quarter of 2015-16 financial year.

SBI - State Bank of India is going to post Q4 results today.
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Best mutual funds to invest in 2017
updated on 21 Aug 2017
Creating a mutual fund portfolio involves several steps which many investors believe are too complex. To begin with, an investor needs to shortlist a few schemes with credible long-term performance record. The next step is to pick the ones that are in line with the risk profile and investment objectives.

Another crucial step is to fix the composition of the portfolio. The task doesn't end here. Another equally important step is to monitor and review the performance of the portfolio at regular intervals.

For  Mutual Funds investors here to help you. We have been recommending equity mutual fund portfolios for SIPs every month since October 2016. The portfolios have been created for three different individual risk profiles: conservative, moderate and aggressive. We have also considered three SIP baskets - between Rs 2,000-5,000, between Rs 5,000-10,000 and above Rs 10,000 - while creating the portfolio.
Source - ET
ET Mutual Funds has employed the following parameters for shortlisting these mutual fund schemes.

1. Mean rolling returns : rolled daily for the last three years.

2. Consistency in the last three years : The three-year period is divided into smaller time periods each with a progressing weighting.

3. Downside risk : We have considered only the negative returns given by the mutual fund scheme for this.
X =Returns below zero
Y = Sum of all squares of X
Z = Y/number of days taken for computing the ratio
Downside risk = Square root of Z

4. Outperformance : It is measured by Jensen's Alpha for the last three years. Jensen's Alpha shows the risk-adjusted return generated by a mutual fund scheme relative to the expected market return predicted by the Capital Asset Pricing Model (CAPM). Higher Alpha indicates that the portfolio performance has outstripped the returns predicted by the market.

Average returns generated by the MF Scheme - [Risk Free Rate + Beta of the MF Scheme * {(Average return of the index - Risk Free Rate}

5. Asset size : For equity diversified funds, the threshold asset size is Rs 100 crore, and Rs 50 crore for balanced funds.

We have also conducted a back testing of our model portfolios. These returns are forward returns from the base date.
Balanced fund -
Investors not looking to take high risk, in other words, for conservative
investors, following funds are the top picks. Select all Growth or direct option.

ICICI Balanced Fund
HDFC Balanced Fund
Birla Sun Life Balanced Fund

Large cap, Mid cap and Diversified Fund -
Investors willing to take high risk, in other words, for aggressive investors,
following funds are the top picks. Select all Growth or direct option.

Mirae Assest Emerging Bluechip Fund
HDFC Top 200 Fund
SBI Small and Midcap Fund
ICICI Prudential Value Discovery fund
Birla Sunlife Top 100
L&T Mid cap fund
Best mutual funds to invest in 2017