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Below is the Daily Market Commentary 11 April 2022 By Mr. Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd

Domestic equities were on edge as volatility grip the market amid weak global cues. Nifty opened lower and remained in bear grip throughout the day to close with loss of 109 points (-0.6%) at 17,765 levels. Broader markets were mixed with Nifty Midcap 100 up 0.6% while Nifty Smallcap 100 closed flat to negative. Sectorially it was mixed bag. Oil & Gas, Realty and Media were top gainers - up more than 1%, followed by Metals. While IT, Financial Services, Banking, FMCG, Consumer Durables and Pharma were laggards.

Global markets were on edge as soaring inflation, geopolitical uncertainty in Europe and upcoming U.S. earnings season kept investors cautious.

The risk of pickup in inflation and rise in Covid-19 case in some parts of the world continue to shape market moves. Domestic Market has been stuck in range of 250 points over last couple of sessions. Nifty is not being able to hold on to its recovery and is witnessing selling at every bounce. Technically too, the Nifty needs to holds above 17,777 for an up move towards 18k mark. The earning season has kicked off today with TCS results which would keep the markets volatile. Investors would react to TCS results tomorrow and keep an eye on earnings report of Infosys and HDFC Bank due this week.

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