Daily Market Commentary : The outcome of the election will be announced on 13th May Says Mr. Siddhartha Khemka, Motilal Oswal
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Daily market commentary 09 May 2023 by Mr. Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.
Nifty opened positive but some profit booking at higher levels led to flat closing for the day at 18266 levels. Sectorially it was a mixed bag with buying seen in IT and Auto sectors. Global cues were mixed as investors keenly await US inflation data as this will set the tone for FOMC’s next meeting. Apart from global cues and Q4 earnings, the domestic market will also watch for the Karnataka assembly election that will start on Wednesday. The outcome of the election will be announced on 13th May. While the Nifty is finding some profit booking at higher levels, the overall Market structure remains positive.
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