Daily Market Commentary 12 October 2022 By Mr. Siddhartha Khemka, Motilal Oswal
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Below is the Daily Market Commentary 12 October 2022 By Mr. Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd
Domestic equities gained strength after the initial hiccups as value buying at lower levels helped market to recover. Further, spike in Dow futures too supported the Indian markets. Nifty managed to sustain above 17k zones and closed with gains of 140 points (+0.8%) at 17124 levels. Barring Media, all other sectors ended in green. Banks and financials were top gainers on back of expectation of healthy Q2 earnings. Going forward we expect market strength would continue until Nifty is able to sustain above 17k levels. However concrete direction would be provided by global factors and inflation data in the near term.
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