Daily Market Commentary : Nifty witnessed some profit booking despite positive WPI inflation data Says Mr. Siddhartha Khemka, Motilal Oswal
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Daily market commentary 16 January 2023 by Mr. Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.
Nifty witnessed some profit booking despite positive WPI inflation data. The index opened positive but soon drifted in negative territory to close with loss of 62 points at 17895 levels. Consistent FIIs selling and lack of any positive trigger has created nervousness in the market. We expect market to remain sideways with limited downside. Banking, financial and Consumer sectors are likely to remain in focus as the Q3FY23 results unfold in these sectors.
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