SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Nifty extends losses for second consecutive day

26 Feb 2024 Evaluate

Indian equity benchmark -- Nifty -- ended Monday’s trading session in negative terrain with moderate losses ahead of the expiry of February month derivative contracts. Index made a slightly negative start, amid mixed cues from global markets. Some cautiousness came as data released by the Reserve Bank of India (RBI) showed that India's foreign exchange reserves declined to $616.10 billion as on February 16. Investors overlooked Union Finance Minister Nirmala Sitharaman’s statement that under Prime Minister Narendra Modi's leadership, India has moved up to the fifth position from the 10th spot in the world in terms of economy. 

Index remained lower for the whole day, as market participants remained cautious ahead the release of inflation data from the US, Japan and Europe, which could provide more clarity on the outlook for global interest rate moves. Some anxiety came amid a private report stating that India's GDP growth likely declined to 6.5 percent in October-December 2023 from 7.6 percent the previous quarter. Meanwhile, the statistics ministry will release GDP data for October-December 2023 on February 29. It will also release its second advance growth estimate for 2023-24 as a whole, as well as the first, second, and third revised estimates of growth for 2022-23, 2021-22, and 2020-21, respectively. Finally, index ended on a lower note and settled below 22150 mark.

Most of the sectorial indices ended in red except Oil & Gas, Auto and Realty stocks. The top gainers from the F&O segment were Bharat Forge, Glenmark Pharmaceuticals and Hindustan Petroleum Corporation. On the other hand, the top losers Alkem Laboratories, Vodafone Idea and Asian Paints. In the index option segment, maximum OI continues to be seen in the 22900 - 23100 calls and 20900 - 21100 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:

×