SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Nifty jumps around 1.5% to end at record closing high point

20 Sep 2024 Evaluate

Indian equity benchmark -- Nifty -- ended Friday’s trading session at lifetime high point, as traders continued to take support as Fed cut interest rates by 50 basis points and signalled more cuts ahead. Index made a positive start and extended its gains, as sentiments got boost after a report by S&P Global noted that India is set to become the third largest economy and transition to the upper-middle-income category by 2030-31, driven by a projected annual growth rate of 6.7 per cent this fiscal. India posted GDP growth of 8.2 per cent in FY2024, exceeding the government’s earlier estimate of 7.3 per cent, sustained reforms are crucial for India’s economic momentum to continue. Traders took note of Economic Affairs Secretary Ajay Seth’s statement that the Fed rate cut would not have a significant impact on foreign inflows into India.   

Index continued to trade in green in noon deal, as sentiments were positive with report stating that John Chambers, who heads the India US Strategic Partnership Forum and is Chairman Emeritus of CISCO is highly optimistic about the future of the Indian economy, the current share market situation and the growth of innovation in the country. Further, Finance Minister Nirmala Sitharaman has said that the banking sector will have to play a crucial role in driving the agenda of making India a developed nation or Viksit Bharat by 2047. In late afternoon session, index came off from day’s high point but recovered from losses to end at all-time high level. 

Most of the sectorial indices ended in green except PSU Bank stocks. The top gainers from the F&O segment were Escorts Kubota, Mahindra and Mahindra and ICICI Bank. On the other hand, the top AU Small Finance Bank, Grasim Industries and Muthoot Finance. In the index option segment, maximum OI continues to be seen in the 26900 - 27100 calls and 24900 - 25100 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:

×