SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Nifty ends near day’s low point on Friday

22 Sep 2023 Evaluate

Indian equity benchmark -- Nifty -- ended Friday’s trading session in a negative terrain, dragged by losses in Pharma, Metal and Realty stocks. After making a cautious start, soon index turned volatile, as traders were concerned on echoing global uncertainties caused by the Federal Reserve’s hawkish stance. Escalating diplomatic tensions between India and Canada also impacting sentiments in the markets. India temporarily suspended visa operations with Canada for an indefinite period due to alleged ‘security threats’ against diplomatic staff, amidst a diplomatic crisis that arose following the latter’s allegation that India is responsible for the killing of a Sikh activist.

However, index added some gains to trade on higher in early afternoon session, as investors took some support with reports stating that India’s inclusion in the JPMorgan Government Bond Index is positive, though short-term equity challenges may persist due to Foreign Portfolio Investors’ selling as the US dollar strengthens. Besides, Reserve Bank Deputy Governor Michael D Patra said that India will be a $5 trillion economy and the third largest in the world by market exchange rates by 2027, aided by the demographic advantage and pace of financial sector development. But, in last leg of trade, index erased all of its gains and ended near day’s low point.

Most of the sectorial indices ended in red except PSU Bank and Auto stocks. The top gainers from the F&O segment were Canara Bank, REC and Vodafone Idea. On the other hand, the top losers were Info Edge (India), Zydus Lifesciences and Glenmark Pharmaceuticals. In the index option segment, maximum OI continues to be seen in the 19700 - 19900 calls and 18900 - 19100 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:

×