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Daily market commentary 26 July 2023 by Mr. Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.

Nifty closed in positive territory led by buying in select heavyweights. The index closed with gains of 93 points at 19774 levels. Broader markets too followed suit and witnessed buying interest. All sectors ended in the green, except for Consumer Durables. FMCG, PSU Bank, Realty, and Oil & Gas were top gainers. After three days of consolidation, the market is witnessing buying at lower levels. Further, a lower VIX is also supporting the bullish sentiments. Now all eyes will be on the US FOMC meeting, where another rate increase is expected. Fed’s commentary will also be important, as this would provide some cues towards the Fed's stance going forward. Domestically, monthly FNO expiry along with a slew of corporate earnings, could keep the market a bit volatile

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