Daily Market Commentary : Nifty opened on a strong note Says Mr. Siddhartha Khemka, Motilal Oswal
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Daily market commentary 23 May 2023 by Mr. Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.
Nifty opened on a strong note. However, profit booking in the last hour dragged indices down to close with marginal gains of 33 points at 18348 levels. All sectors ended in the green, except IT, Realty and Consumer sectors. Markets have gained momentum in the last three sessions and are gradually inching higher towards 18450 – 18500 levels. We expect sector rotation to continue, with midcap particularly gaining strength. On the global front, investors would watch for Japan, UK, Europe and US PMI data that will be released late on Tuesday.
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