Daily Market Commentary : Nifty open gap down and declined for third consecutive day to close with loss of 146 points Says Mr. Siddhartha Khemka, Motilal Oswal
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2022/12/6797160e803256f412ea77d75308754d.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 16 December 2022 by Mr. Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.
Domestic equities slipped into negative territory following US Fed hawkish commentary and weakness in global markets. Nifty open gap down and declined for third consecutive day to close with loss of 146 points (-0.8) at 18269 levels. Broader market too saw some selling pressure with Nifty midcap 100 down 1.6% while smallcap 100 down 0.6%. All sectors ended in red with PSU bank down more than 3%. Markets seems to have taken pause after making new highs with Nifty down by 3% in last few. Markets are likely to remain in consolidative range due to lack of triggers in the near term. Also lower participation from institutional investors due to upcoming year-end holidays would keep the markets lackluster. Though investors would keep eye on US Home Sales and GDP (QoQ) numbers to be released next week. On sectorial front, sugar stocks are likely to remain in lime light on after news reported, government might consider increasing sugar export quota for the current 2022-23. However, some selling might be seen in Banking stock especially in PSU banks on account of profit booking after the sharp rally in last few months.
Above views are of the author and not of the website kindly read disclaimer
![](https://portfolio.investmentguruindia.com/uploads/news/Max Financial Services Ltd.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Piyush Goyal24.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/HPCLLtd.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/railway24.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Hero Motocorp Ltd 1.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Signature Global 24.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Startup_48.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/IPO7.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/IIM Bangalore24.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/MRF Ltd.jpg)
Tag News
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/cc796169e4f7c012914c95f4a8efe430.jpg)
Weekly Market Analysis : Markets strengthened recovery and gained nearly 2% in the passing w...
![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)
![Nifty registers best week in 2 months after rising for 6 consecutive sessions](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/95f11bf3e1fc515ff0aed747520314dc.jpg)
![Market Quote : Benchmark Indices ended the week today just a few percentage away from record highs Says S Ranganathan, LKP securities](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/f33c3d1dad571464e55a94475ae32892.jpg)
More News
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/08/e03f317966f021c10724dd1d9275a6b5.jpg)
Quote on Bank Nifty : The Bank Nifty saw a recent attempt by bulls to defend the support aro...
![Morning Nifty, Derivative and Rupee comments 19 July 2022 by Anand James, Geojit Financial Services](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2022/07/2594722d0bca2324cd8af321787f2aa7.jpg)
![Daily Market Analysis : Markets edged higher, gaining nearly half a percent, continuing Wednesday`s rebound Says Mr. Ajit Mishra, Religare Broking Ltd](https://portfolio.investmentguruindia.com/uploads/news/Ajit Mishra.jpg)
![Morning Market Quote : The US inflation print for February which came at 6% year-on-year Says Dr. V K Vijayakumar, Geojit Financial Services](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/03/198388117413dd9249a71297f934ffd4.jpg)