Daily Market Commentary 17 January 2022 By Mr. Siddhartha Khemka, Motilal Oswal
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2022/01/0d6446c9ec6898fdb31fbcd297843d2f.jpg)
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Below is the Daily Market Commentary 17 January 2022 By Mr. Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services
Domestic indices opened lower after taking cues from its mixed Asian peers. However, Nifty took support at lower levels and closed the day with gains of 52 points at 18,308 levels. Broader market too ended in green with nifty midcap 100 up 0.2% and nifty smallcap 100 up 0.6%. Except pharma, IT and bank all other sectorial indices ended in the green with auto and realty gaining 1-2%.
U.S. markets remain closed today for Martin Luther King Jr. Day. European markets were positive while Asian markets were mixed. Chinese data released showed that its economy grew by 8.1% in 2021, while Industrial output grew a little above forecasts at 4.0% in the fourth quarter. China's central bank also surprised by cutting some key lending rates by a sizable 10 basis points.
Markets have recovered from its low and it is sustaining well above 18k mark over last couple of days. Q3 result season has started on a good note with several heavy weights reporting in-line to better-than-expected numbers. Nifty is trending upwards while Bank Nifty is witnessing some consolidation and a pause in its momentum. Traders are advised to apply buy on decline strategy and be with stock specific ideas. From a near term perspective, we expect stock specific action in selected auto, tech , chemicals and fertilizer stocks.
Above views are of the author and not of the website kindly read disclaimer
![](https://portfolio.investmentguruindia.com/uploads/news/Anuj Gupta_Commodity.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Nirmal bang.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/unionB23.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Kedia Cotton Report.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Monarch networth.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/nirmalaS22.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Broker _16.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Broker _11.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/StockMarket23.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Kedia Bullion Outlook.jpg)
Top News
![](https://portfolio.investmentguruindia.com/uploads/news/Nifty.jpg)
IT stocks drag Sensex lower
Tag News
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/aecd4f4a5e886b873aa68500d027acd0.jpg)
We anticipate immense potential benefits from the upcoming Sovereign Gold Bond Tranche in FY...
![Weekly Market Analysis : Markets strengthened recovery and gained nearly 2% in the passing week Says Mr. Ajit Mishra, Religare Broking](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/cc796169e4f7c012914c95f4a8efe430.jpg)
![Weekly market outlook : The market is eagerly awaiting data on inflation and industrial production to provide further guidance Says Vinod Nair, Geojit Financial Services](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/5f1fa5f12be5ac87ff9258ea3909f0f8.jpg)
![Monthly Debt Market Update, September 2023: CareEdge Ratings](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/c5541407585e9dfdc52f905c92d59e61.jpg)
More News
![](https://portfolio.investmentguruindia.com/uploads/news/43e821f5f4fe406742cc7f442c2c6674.jpg)
Daily market commentary : Indian equities saw a relief rally following its global peers and ...
![Morning Market Quote : Many favourable factors have come together to push the markets to record levels Says Dr. V K Vijayakumar, Geojit Financial Services](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2022/11/fd255e83c5b46e4992ce8406a8e9e86d.jpg)
![Daily Market Analysis : The last two days of slide in the index have completely engulfed the gains Says Mr. Ajit Mishra, Religare Broking](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2022/09/3f239368af6cdce8960b7fbaf70dd097.jpg)
![Outstanding performance by the bulls; Nifty ends around 15250 By Ruchit Jain, Angel Broking](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2021/03/2057fe32cdc132833d499fa137393fee.jpg)