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Daily market commentary 11 May 2022 by Mr. Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.

Nifty remained volatile on the day of the F&O weekly expiry and closed flat in negative territory at 18297 levels. Consumer Durables were the top gainers followed by the FMCG sector. Global markets saw some respite after US inflation eased to 4.9%. Now investors await the BOE interest rate decision, which is due later today. On the domestic front, India’s CPI data will be keenly watch which is due on Friday. Market is stuck in a range for the last 3 days, despite favorable global environment and strong FIIs buying. Nifty is gradually moving to a higher zone, while the downside is limited. Overall, suggest to remain with buy on decline strategy with action in the broader market.

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