Indian equity benchmark -- Nifty -- ended Tuesday’s trading session on flat note, ahead of key macroeconomic data i.e. Consumer Price Index (CPI) and the Index of Industrial Production (IIP) to be out on June 12. After making a cautious start, soon index traded on higher note, as traders got some support after Finance Ministry announced the release of an additional installment of tax devolution to states for June 2024, in a move to support state finances and spur economic development. The total amount released to states for June now stands at Rs 1,39,750 crore. Some support also came as foreign institutional investors (FIIs) extended their buying on the second day on June 10 as they bought Indian equities worth Rs 2,572.38 crore.
Index continued to trade in a positive terrain in afternoon session, as sentiments remained optimistic with Industry Body Confederation of Indian Industry stating that continuity in policy reforms under the leadership of Prime Minister Narendra Modi is likely to drive India towards the goal of becoming a developed nation. Besides, a private report stated that the new coalition government is likely to stick to its medium fiscal consolidation roadmap, but with a tilt towards populism in its first budget post the elections. In last leg of trade, index erased intraday gains to end on flat note.
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.
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.
MoneyWorks4Me ensures this through: