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Below is the Daily Market Commentary 25 March 2022 By Mr. Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd

Domestic equities witnessed another day of range-bound session in the absence of any directional cues. Rise in domestic retail fuel prices added to the overall cautious sentiments. Nifty opened positive but pared away its early gains and closed with loss of 70 (-0.4%) points at 17,153 levels. Broader market too ended lower. Among sectors, Realty was top gainer up 1.4%, followed by Media, PSU Bank and Oil & Gas. While selling was seen in Consumer Durables, IT, Pharma, Private Bank, FMCG, Financial Services and Auto.

Global equities were mixed. While US closed positive, Asian markets were negative, with weakness seen in with Tech stocks. European markets were flat on back of disappointed UK retail Sales Data.

Domestic equities are stuck in a tight range for 6^th consecutive day with key benchmark index Nifty moving within the 17,100-17,300 band for most part of the week. Markets are unable to sustain at higher levels as selling pressure emerge around 17,350-17,400. A strong close above this can take the Nifty towards 17600-17750 zones. Among the broader market, leisure and tourism segment is witnessing lot of interest after the government removed most of the Codid-19 restrictions. Stocks in the multiplex, hotels, travel as well as entertainment space are likely to do well.

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