Daily Market Commentary : Investors would continue to keep an eye on economic data to be released next week Says Mr. Siddhartha Khemka, Motilal Oswal
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Daily market commentary 12 May 2022 by Mr. Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.
Nifty opened lower but reversed its intraday losses to close with minor gains of 18 points at 18315 levels. Broader market underperformed with the Nifty midcap 100 down -0.5% and the Nifty smallcap 100 down -0.8%. Sectorially it was a mixed bag with buying seen in the Financial and Auto sector. Markets on Monday will react to India’s inflation data and the Karnataka election outcome. Market has now been consolidating for the last 4 days and is awaiting fresh triggers for the next leg of the rally as the structure of the market remains positive. Investors would continue to keep an eye on economic data to be released next week.
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