Daily Market Commentary : Nifty opened positive in line with global peers Says Mr. Siddhartha Khemka, Motilal Oswal
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Daily market commentary 27 February 2023 by Mr. Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.
Nifty opened positive in line with global peers, but soon gave up its initial gains. The index traded in red for the remaining part of the day to finally close with loss of 34 points at 16952 levels. Except Banking and financial services, all sector ended in red. There are no clear cues from the global markets, as they remain cautious due to the ongoing banking crisis amidst the rising interest rate environment. Investors would also watch for US & UK GDP data, which could provide some cues. On domestic front, monthly FNO expiry on Wednesday could keep the markets volatile given the high FII short positions.
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