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Daily Market Commentary : Indian markets stood steady with Nifty managing to stay above 18k zone for the last 2 days Says Mr. Siddhartha Khemka, Motilal Oswal
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Daily market commentary 03 November 2022 by Mr. Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.
Indian markets stood steady with Nifty managing to stay above 18k zone for the last 2 days, despite weakness in global markets. US Fed’s 75bps rate hike and weak Chinese economic data dented investor’s sentiments globally. Nifty opened lower but gained strength during the day to close with miniscule loss of 30 points at 18053 levels. PSU Bank, Paints, Shipbuilding stocks were in momentum. Strong domestic cues along with positive FII flows for last few days are providing the much needed support to Indian equities.
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