SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Nifty ends in negative terrain ahead of US Fed's rate decision

03 May 2023 Evaluate

Indian equity benchmark -- Nifty -- snapped 7-day gaining streak on Wednesday, ahead of US Federal Reserve's monetary policy announcement. Index made a negative start, as investors remained cautious with a private report stating that India’s unemployment rate climbed to a four-month high, as there were more people joining the workforce compared to available jobs in Asia’s third largest economy. Creating enough jobs for India’s burgeoning population will remain a key challenge for Prime Minister Narendra Modi’s government, especially as he looks to a third term in office in national elections due next summer. However in late morning session, some losses got trimmed as market participants got some support with data released by S&P Global showing that India’s services sector surged in April as the sector's Purchasing Managers’ Index (PMI) jumped to 62.0 from 57.8 in March. At 62.0, the services PMI is the highest in nearly 13 years. It has stayed above the key level of 50 that separates expansion in activity from a contraction for 21 months in a row.

However, weak trade persisted in the market for the entire trading session, as traders remained cautious, after the International Monetary Fund said that economies across the Middle East and Central Asia will likely slow this year as persistently high inflation and rising interest rates bite into their post-pandemic gains. The IMF's Regional Economic Outlook blamed in part rising energy costs, as well as elevated food prices, for the estimated slower growth. Finally, index ended with losses of 57.80 points.

Traders were seen piling positions in FMCG, Media and Realty, while selling was witnessed in IT, Metal and PSU bank. The top gainers from the F&O segment were Bharat Heavy Electricals, MRF and Interglobe Aviation. On the other hand, the top losers were Manappuram Finance, Adani Enterprises and Indus Towers. In the index option segment, maximum OI continues to be seen in the 18400 -18600 calls and 17400 -17600 puts indicating this is the trading range expectation.

About MoneyWorks4Me

MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

Our Vision

To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.

What Makes MoneyWorks4Me Different

Our Approach: Ensuring compounding work its magic on client portfolio.

MoneyWorks4Me ensures this through:

×