SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Nifty plunges over 1%; settles below 24500 mark

22 Oct 2024 Evaluate

Indian equity benchmark -- Nifty -- ended Tuesday’s trading session deep in red as investors reacted to weak global cues and an uptrend in oil prices overnight amid heightened tensions in the Middle East. After making slightly positive, soon index cut all of its gains to trade in negative terrain, as traders were cautious with the exchange data showing that foreign institutional investors (FIIs) offloaded equities worth Rs 2,261.83 crore on October 21. Index extended its losses in afternoon session, as traders were concerned after the latest bulletin from the Reserve Bank of India has stated that India's inflation is on a downward trajectory, but there is still significant ground to cover. The final stretch of disinflation hinges on controlling food inflation and mitigating its spillover effects on inflation expectations and core inflation. Invertors overlooked Finance Minister Nirmala Sitharaman’s statement that India is poised to continue its sustained growth trajectory and enhance its contribution to global growth significantly. She also noted that at the current rate, India is likely to be the world's third-largest economy by 2027. In last leg of trade, index magnified its losses to end near day’s low point.

All the sectorial indices ended in red. The top gainers from the F&O segment were City Union Bank, Shree Cement and ICICI Bank. On the other hand, the top losers Punjab National Bank, L&T Finance and Hindustan Copper. In the index option segment, maximum OI continues to be seen in the 25900 - 26100 calls and 23900 - 24100 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:

×