SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Nifty ends in negative terrain

23 Jun 2023 Evaluate

Indian equity benchmark -- Nifty -- ended in negative terrain on final trading day of week, dragged by losses in Metal, Media and IT stocks. Index made a negative start and soon slipped in deep red. Investors were concerned as the minutes of the June MPC released by the central bank revealed that sounding a note of caution, RBI’s rate-setting panel member Jayanth R Varma opined that monetary policy is now dangerously close to levels at which it can inflict significant damage to the economy. Foreign fund outflows also dented domestic sentiments. According to the provisional data available on the NSE, foreign institutional investors (FII) offloaded shares worth a net Rs 693.28 crore on June 22.

In afternoon session, index continued to trade on a lower note, as traders failed to take support with India and the US stating that they are looking forward to the reconvening of the India-US Trade Policy Forum later this year to further enhance trade relationship and identify new areas for engagement. A joint statement issued after a meeting between Prime Minister Narendra Modi and US President Joe Biden showed that the two countries have also taken steps towards deepening bilateral cooperation to strengthen economic relationship, including trade ties. In last leg of trade, index extended its losses and ended with over half a percent cut.

Most of the sectorial indices ended in red except Pharma. The top gainers from the F&O segment were Aurobindo Pharma, Indusind Bank and Aditya Birla Capital. On the other hand, the top losers were Adani Enterprises, Ambuja Cements and Adani Ports and Special Economic Zone. In the index option segment, maximum OI continues to be seen in the 18700 - 18900 calls and 17900 - 18100 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:

×