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Below Daily market commentary 21 April 2023 by Mr. Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.

‘Nifty remained lackluster and moved in a narrow range to close flat at 17624 levels. Sectorially it was a mixed bag with FMCG and IT outperforming. While major selling was seen in Realty, Metals, and Auto. Markets on Monday will react to Reliance and ICICI Bank results outcome. Also, the IPO market will be back in action with Mankind Pharma hitting the street with an offer size of Rs4326 crore. The issue will open on 25^th April for investors with a price band of Rs1026 – 1080. Earnings season will pick up the pace next week with results from several large-caps, which would drive market sentiments. Several Heavyweights from IT, Banking, Auto, and FMCG sectors would announce their results. Management commentary will hold key importance to understand future growth

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