SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Last hour selling drags Nifty to end below neutral line

30 Apr 2024 Evaluate

Indian equity benchmark -- Nifty -- ended Tuesday’s trading session in a negative terrain, ahead of Federal Reserve policy meeting due on tomorrow. Index made a decent start, amid foreign fund inflows. Foreign institutional investors (FIIs) net bought shares worth Rs 169.09 crore on April 29, provisional data from the NSE showed. Sentiments got boost as the National Council of Applied Economic Research (NCAER) in its monthly economic review said that the Indian economy could grow faster than 7% in this financial year. Traders took note of report that Finance Minister Nirmala Sitharaman underscored the need for a stable government to achieve the goal of becoming Viksit Bharat by 2047. 

In afternoon session, index extended its gains to touch all time high point, as sentiments remained optimistic amid a private report stating that India's services exports will increase to $800 billion by 2030 from $340 billion in 2023, making the external sector resilient to supply-side shocks and reducing rupee volatility. It said India's foreign trade policy announced last year targeted $1 trillion of service exports by 2030. Traders ignored the report that ICRA said India's net oil import bill could widen to $101-104 billion in current fiscal from $96.1 billion in 2023-24 and any escalation in the Iran-Israel conflict could impart an upward pressure on the value of imports. However, in last leg of trade, index cut all of its intraday gains to end lower.

Traders were seen piling up positions in Auto, Realty and PSU Bank, while selling was witnessed in IT, Media and Metal Bank. The top gainers from the F&O segment were REC, Power Finance Corporation and Jubilant FoodWorks. On the other hand, the top losers Indian Oil Corporation, Birlasoft and Aditya Birla Capital. In the index option segment, maximum OI continues to be seen in the 23400 - 23600 calls and 22400 - 22600 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:

×