SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Nifty snaps 5-day losing streak ahead of Lok Sabha exit polls

31 May 2024 Evaluate

Indian equity benchmark -- Nifty -- ended Friday’s trading session with marginal gains ahead of Lok Sabha exit polls. After making a gap up opening, soon index trimmed initial gains but traded in green, as sentiments got boost after the Reserve Bank of India (RBI), in its annual report, projected Indian economy to grow at 7 percent in the current financial year with risks evenly balanced. Further, the report said India' GDP has expanded at a robust pace in 2023-24, with real GDP growth accelerating to 7.6 percent from 7 percent in the previous year - the third successive year of 7 percent or above growth. 

In afternoon session, index traded near day’s high point, as traders ignored the Reserve Bank's annual report showing that the number of frauds in the banking sector went up to 36,075 in 2023-24 year-on-year, but the amount involved reduced by 46.7 per cent to Rs 13,930 crore. Traders took note of report that Finance minister Nirmala Sitharaman said the Modi government has turned around the banking sector through various reforms and improved governance which has led to banks recovering more than Rs 10 lakh crore from bad loans between 2014 and 2023. She said the Enforcement Directorate has investigated around 1,105 bank fraud cases, which resulted in the attachment of Rs 64,920 crore worth of proceeds of crime. But soon, index slipped near neutral line to end with marginal gains. 

Traders were seen piling up positions in Realty, Metal and PSU Bank, while selling was witnessed in Media, IT and Healthcare. The top gainers from the F&O segment were Adani Enterprises, Vodafone Idea and NMDC. On the other hand, the top losers IPCA Laboratories, Page Industries and Berger Paints India. In the index option segment, maximum OI continues to be seen in the 23900 - 24100 calls and 21900 - 22100 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: