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Below is the Daily Market Commentary 12 April 2022 By Mr. Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd

Domestic equity logged losses for second consecutive day led by weakness in global markets. Nifty opened lower and remained under pressure throughout the day. It closed with loss of 145 points (-0.8%) at 17,530 levels. Broader market underperformed and closed with loss of more than 1%. Except Private Bank and Financial Services, all other sectors ended in red with Realty, Metals and Oil & Gas being top laggards down more than 2% each.

Global markets traded lower as investors remain cautious ahead key economic data, central bank meeting in Europe and uncertain situation in Ukraine-Russia which is likely to intensify.

Tomorrow markets will react to CPI inflation data which is schedule to release in India and US post market hours today. Also, the ECB’s policy outcome would have a bearing on the global market. The earning season has kicked in and we expect overall good performance from the companies. Given government reforms and strong economic recovery, the long term trend of the equity market remains positive though there might be hiccups in between.

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