Daily Market Commentary : All sectors closed in positive territory, barring consumer durables says Mr. Siddhartha Khemka, Motilal Oswal Financial Services Ltd
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Below the Daily Market Commentary On 28 December 2023 by Mr. Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd
Nifty touched fresh all-time highs and finally closed near day’s high with gains of 124 points (+0.6%) at 21779 levels. Broader market ended in green in line with benchmark. All sectors closed in positive territory, barring consumer durables. Oil & Gas, Metals and Pharma were major gainers. Jewellery stock were in momentum after gold prices climbed to over three-week highs amid fall in dollar and bond yields to multi-month low. Markets has been gaining for five consecutive trading session on back of optimism over expected growth next year. Global markets too were supportive as investors hope for early rate cut in 2024. Also, FIIs have turned net buyers after being seller for six consecutive days. Overall we expect positive momentum to continue and markets to end the year on a buoyant note.
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