Daily Market Commentary : We expect market to consolidate in a range on back of global volatility Says Mr. Siddhartha Khemka, Motilal Oswal
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Daily market commentary 19 January 2023 by Mr. Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.
Domestic equities reacted to weak US economic data and hawkish commentary from US Fed. After two days of positive momentum, Nifty opened lower and consolidated throughout the session to close with loss of 58 points at 18,108. Except PSU Banks and Oil & Gas, all sectors ended in red. We expect market to consolidate in a range on back of global volatility; however, inline Q3FY23 earnings so far has capped the downside.
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