SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Nifty ends with minor losses; settles below 19750 mark

16 Oct 2023 Evaluate

Indian equity benchmark -- Nifty -- ended Monday’s trading session on a lower note. After making a negative start, soon index turned volatile, as investors were cautious with the government data showing that exports contracted by 2.6 per cent to $34.47 billion in September even as the country's merchandise trade deficit narrowed to $19.37 billion during the month under review. Traders took a note of chief economic advisor (CEA) V Anantha Nageswaran’s statement that private investment is happening in India, and inflation is not a concern, but crude oil prices and tightening global monetary conditions pose a risk.

In afternoon session, index traded above the neutral line, as traders took note of report that India’s inflation based on wholesale price index (WPI) remained in the deflationary zone for the sixth straight month at (-) 0.26% for the month of September 2023 as against (-) 0.52% recorded in August 2023. Deflation in the reported month is primarily due to fall in prices of coal, minerals, textiles, basic metals and food products as compared to the corresponding month of previous year. However, index finally ended in a negative terrain with minor losses.

Traders were seen piling up positions in Metal, PSU Bank and Consumer Durables stocks, while selling was witnessed in Healthcare, Pharma and FMCG. The top gainers from the F&O segment were Gujarat Narmada Valley Fertilizers & Chemicals, Multi Commodity Exchange of India and NMDC. On the other hand, the top losers were Delta Corp, Divi's Laboratories and Nestle India. 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:

×