Indian equity benchmark -- Nifty -- ended Monday’s trading session in a positive terrain, ahead of India’s CPI and IIP data due later in day. Index made a decent start, as sentiments remained positive with data released by Centre for Monitoring Indian Economy (CMIE) showing that the unemployment rate in India fell to 7.7 per cent in May due to a decline in the labour participation at 441.9 million. Unemployment rate in India among people aged 15 years and above fell to 7.7 per cent in May 2023, from 8.5 per cent in the previous month. Some support also came as State Bank of India (SBI) in its ‘Ecowrap’ research report stated that domestic Gross domestic product (GDP) growth is now on firm footing with urban demand showing good traction, while the lagging rural demand is a cause of concern.
In afternoon session, index continued to trade in positive terrain. Traders got some support, as Union Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Piyush Goyal said that India is the fastest growing large economy in the world with inflation under control during the last 9 years and said that the Government under the leadership of the Prime Minister had mandated the Reserve Bank of India (RBI) to keep inflation in check. Besides, the Reserve Bank said that India's forex kitty jumped $5.929 billion to $595.067 billion for the week ended June 2. The reserves had dropped for two consecutive weeks and declined by $4.34 billion to $589.14 billion in the previous reporting week. Finally, index ended with gains of 38.10 points.
Traders were seen piling up positions in IT, Media and Realty, while selling was witnessed in Bank, Pharma and Financial Services. The top gainers from the F&O segment were Hindustan Petroleum Corporation, Indus Towers and REC. On the other hand, the top losers were SRF, Interglobe Aviation and Alkem Laboratories. In the index option segment, maximum OI continues to be seen in the 18900 - 19100 calls and 17900 - 18100 puts indicating this is the trading range expectation.
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.
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.
MoneyWorks4Me ensures this through: