01-01-1970 12:00 AM | Source: Motilal Oswal Financial Services Ltd
Daily Market Commentary 19 January 2022 By Mr. Siddhartha Khemka, Motilal Oswal
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Below is the Daily Market Commentary 19 January 2022 By Mr. Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services

Indian markets witnessed profit booking for second consecutive day led by weak global cues and selling by FPIs. Nifty opened positive, however it could not sustain the psychological level of 18k mark amid selling pressure and closed with loss of 175 points (-1%) at 17,938 levels. Broader market saw mix trend and ended flat. Among sectors, PSU Bank was top gainer with 2.2%, followed by Media, Metal, Auto and Oil & Gas, while selling was seen IT, Financial Service, Realty, FMCG and Pharma.

 

Global markets continued to see sell off as US treasury yield surged to almost two years higher.  Investors sentiments were weighted by the  likelihood of a tighter monetary policy to curb inflation across the globe. Inflation in Britain rose to 5.4% in December, the highest since March 1992. Oil prices too hit their highest since 2014 amid an outage on a pipeline from Iraq to Turkey and global political tensions.

Below is the Daily Market Commentary 17 January 2022 By Mr. Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services

Going ahead, the market is likely to continue with its consolidation till the inflation fear looms. Also, major events like upcoming budget and various state election could lead to higher volatility in coming days. Hence, we advise trader to be cautious and remain stock and sector selective. Investors can use dip in the market as an opportunity to accumulate quality stocks for long term portfolio.

 

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