Indian equity benchmark -- Nifty -- ended with minor losses on Tuesday. After making a cautious start of the day, soon market spiked up tracking broadly positive cues from global peers. However, index failed to protect its gains and turned negative as traders were worried after government data showed that the growth in production of eight key infrastructure sectors entered a negative zone after three-and-a-half years, contracting 1.8% in August 2024 due to decline in output of coal, crude oil, natural gas, refinery products, cement and electricity. Also, Reserve Bank of India said the country’s current account deficit widened marginally to $9.7 billion or 1.1% of GDP in April-June 2024, as against $8.9 billion or 1% in the year-ago period.
In afternoon session, market altered between positive and negative territories amid weak HSBC India Manufacturing PMI data. The HSBC final India Manufacturing Purchasing Managers' Index, compiled by S&P Global, fell to 56.5 last month (September) from 57.5 in August - the weakest since January - and slightly below a preliminary estimate of 56.7. Growth in India's manufacturing industry cooled to an eight-month low in September as solid demand and output eased slightly. In late afternoon session, index continued to trade lackluster as traders avoided to take risk.
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: