Daily Market Commentary : Nifty finally ended near days` high, with gains of 103 points at 17,634 levels Says Mr. Siddhartha Khemka, Motilal Oswal
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2022/09/01c2a0cd2d8a1e15e39262185d2c09d3.jpg)
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Daily market commentary 19 September 2022 by Mr. Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.
Market are likely to remain range bound ahead of US Fed interest rate decision to be announced 21st Sept (Wednesday). While it is widely expected that Fed will go for at least 75 basis points hike, however given the stubbornness of US inflation and robust numbers from US data points like retail sales and a strong labor market, there is a high chance that the aggressive stance towards rate hike is likely to continue for a prolonged time. Even the Bank of England is likely to announce a 50bps rate hike to combat inflation and could keep global markets under pressure. US 2-Year bond have spiked to 15-year high at 3.9% while 10-year bond is hovering at 3.4%, thus implying that the short term pain could continue in the global markets. Back home, Indian markets is better placed compare to the other global markets due to its strong macro factors, strong government policy implementation and oil price falling to 7-month. This well reflected in today’s Nifty outperformance to global market as well.
Indian equities though opened on a lackluster note on the back weak global cues, pulled up immediately to trade with positive bias for the rest of the day. Nifty finally ended near days’ high, with gains of 103 points at 17,634 levels. Expect for Realty and Consumer Durables, all other sectors ended in green. Sectors like Cement, Logistics and Defence remained in lime light on back of the policy announcement and news. Tyre sector gained further traction after the Government extended the anti-dumping duty on radial tyres. Tech major Accenture would be announcing its quarterly results on 22nd Sep along with its guidance for the remaining year. This would be significant for Indian IT stocks, as there are concerns with regards to global demand slowdown for IT services and thus Accenture’s outlook would set the tone for the overall IT service industry.
Above views are of the author and not of the website kindly read disclaimer
![](https://portfolio.investmentguruindia.com/uploads/news/Clean Science and Technology.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Somany logo.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Axis Securities Ltd.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/startup.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Srinivas Narayanan.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Mongolia.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/nitingadkari37.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/jul03v68_wcHr0zT.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/IT Sector03.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Bharti Airtel Ltd.jpg)
Tag News
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/aecd4f4a5e886b873aa68500d027acd0.jpg)
We anticipate immense potential benefits from the upcoming Sovereign Gold Bond Tranche in FY...
![Weekly Market Analysis : Markets strengthened recovery and gained nearly 2% in the passing week Says Mr. Ajit Mishra, Religare Broking](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/cc796169e4f7c012914c95f4a8efe430.jpg)
![Weekly market outlook : The market is eagerly awaiting data on inflation and industrial production to provide further guidance Says Vinod Nair, Geojit Financial Services](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/5f1fa5f12be5ac87ff9258ea3909f0f8.jpg)
![Monthly Debt Market Update, September 2023: CareEdge Ratings](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/c5541407585e9dfdc52f905c92d59e61.jpg)
More News
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/05/e7378710fc2e1403d5e9e4b5c4f760d0.jpg)
Morning Market Quote : The high integrity of the members of the panel must have given confid...
![In India there is big action in mid and small-caps and this is likely to continue Says Dr. V K Vijayakumar, Geojit Financial Services](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/06/3a5e817e979af3495707648acae48bd8.jpg)
![Quote on Bank Nifty : The Bank Nifty remained positive throughout the day following a consolidation Says Kunal Shah, LKP Securities](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/03/968c31f82e9ecac1e1d15652159747d5.jpg)
![Highest close for Nifty, but still 18000 remains untouched By Sameet Chavan, Angel One Ltd](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2021/10/33ee7336c54ba4729d81ab5328493df3.jpg)