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Daily market commentary 22 December 2022 by Mr. Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd

Domestic indices had a head start following positive sentiments in global markets after US released impressive consumer data. However, rally was short lived with Nifty falling almost by 300 points from day’s high to close with loss of 72 points at 18127. All sectors came under pressure with major selling seen in Auto, Metals and Realty. Market are likely to remain volatile given uncertain environment and rising covid cases globally. Even on domestic front government has started taking precautionary measures to control pandemic at initial stage. This has led to cautiousness among investors. We advise traders to keep positions light in view of increasing volatility and trade with strict stop loss.

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