Daily Market Commentary 1st December 2021 By Siddhartha Khemka, Motilal Oswal
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2021/12/7aec2b79aa812de5393019ede7d514ee.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 1st December 2021 By Mr. Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services
Equity markets opened gap up and maintained their momentum throughout the session, following the recovery in global markets and strong domestic GDP data. Both the indices ended the session with gains of 1%. Except pharma, all other sectoral indices ended in the green with Metals and PSU bank up more than 2%.
Indian economy clocked a healthy growth rate of 8.4% in 2Q FY22 returning to its pre-covid levels. However we continue to believe that consumption may remain weak in the coming quarters as a result of a weak household sector. We estimate in a real GDP growth forecast of 5-5.5% YoY in 2H, leading to a growth of ~9% YoY in FY22, which is only 1% higher compared to FY20 levels. Also GST collections jumped to over Rs 1.31 lakh crore in November, the second highest since its implementation in July 2017, in line with the trend in economic recovery. The seasonally adjusted PMI rose from 55.9 in October to 57.6 in November.
Global markets turned positive after investors shrugged off concerns over Omicron and shifted focus towards positive economic growth. The sharp sell-off have also made many stocks attractive and thus investors tapped into this opportunity to buy into dips.
Going ahead, we expect the market to continue with its volatility given the uncertainty around the new Omicron variant and Fed tapering. However sharp sell-off have made valuations comfortable and the economic data points continue to point towards economic recovery thus keeping long term fundamentals intact. We would thus advise investors to buy in this volatility in staggered fashion.
Above views are of the author and not of the website kindly read disclaimer
![](https://portfolio.investmentguruindia.com/uploads/news/Foodgrain 30.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Hindustan Petroleum Corporation Ltd.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/ICICI Direct IMAGE.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Kedia Advisory.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/geojit Financial Services.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/DigitalData26.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/geojit Financial Services.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/ICICI Direct IMAGE.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/KPI Green Energy.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/HDFC Securities.jpg)
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/brokar 2.jpg)
Daily market commentary :Nifty opened positive and strengthened throughout the session to en...
![Extended profit taking drags Nifty towards 15200 - By Sameet Chavan, Angel Broking](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2021/02/b262103df27829eb84eee3566ab5c6b5.jpg)
![Daily Market Commentary : Domestic indices had a steady start in line with its global peers Says Mr. Siddhartha Khemka, Motilal Oswal](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2022/11/c910e03def10851d9597e61cde03bd7c.jpg)
![Daily Market Analysis : Markets showed tremendous resilience amid weak global cues and gained nearly half a percent by Mr. Ajit Mishra, SVP - Technical Research, Religare Broking Ltd.](https://portfolio.investmentguruindia.com/uploads/news/Ajit Mishra.jpg)