Daily Market Commentary :Nifty opened lower and saw some profit booking amid volatility Says Mr. Siddhartha Khemka, Motilal Oswal
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/05/ff6de500963e0639be467c33eb648a61.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
Daily market commentary 05 May 2023 by Mr. Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.
Nifty opened lower and saw some profit booking amid volatility. The index closed with a loss of 188 points at 18068 levels. HDFC twins were major losers today, dragging benchmark and Banking indices down. The majority of the sectors ended in red. Despite weak global markets, Indian equities remained resilient on the back of positive economic data, Healthy Q4FY23 results, and FIIs turning net buyers. FIIs bought more than Rs10k in the last six trading sessions. After the sharp rise in the last few days, Nifty is now consolidating around 18,000-18,200 zones. While the overall market structure remains positive, expect Nifty to consolidate in the near term on the back of subdued global cues and profit booking in index heavyweights. Next week market would also take cues from inflation, state election outcome and ongoing earning season.
Above views are of the author and not of the website kindly read disclaimer
![](https://portfolio.investmentguruindia.com/uploads/news/agri23.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Geojit Financial Services.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/B.S. Yediyurappa07.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/job23.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Dhruv Chopra.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Sachidanand Upadhyay, Managing Director, Lord’s Mark Industries Limited.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/unionNirmala23.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Agriculture.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/yadav23.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Bhajanlal Sharma.jpg)
Top News
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2021/03/985b000779d36b403785b5a68e02438d.jpg)
11% finance leaders in India believe they are at advanced stage in digital finance journey: ...
Tag News
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/cc796169e4f7c012914c95f4a8efe430.jpg)
Weekly Market Analysis : Markets strengthened recovery and gained nearly 2% in the passing w...
![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)
![Nifty registers best week in 2 months after rising for 6 consecutive sessions](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/95f11bf3e1fc515ff0aed747520314dc.jpg)
![Market Quote : Benchmark Indices ended the week today just a few percentage away from record highs Says S Ranganathan, LKP securities](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/f33c3d1dad571464e55a94475ae32892.jpg)
More News
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2021/02/ab3fce34313444a53e1f9321114bac7c.jpg)
Quote on Today`s Market Performance 9 February 2021 by Mr. Deepak Jasani, HDFC Securities
![Weekly Market Quote : A lack of major triggers in the domestic market will attract global cues Says Vinod Nair, Geojit Financial Services](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/02/8593abef06fdef8fa9665e7f8ebd0435.jpg)
![Morning Nifty and Derivative comments 25 August 2023 By Anand James, Geojit Financial Services](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/08/81f4166876dc9c086229d5e43c37a0f5.jpg)
![Bears aggrandize on monthly expiry, Nifty well below 18000 By Mr. Sameet Chavan, Angel One Ltd](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2021/10/a26ddf474a97179ec010ff0e1e273566.jpg)