Daily Market Commentary : All sectors including midcap and smallcap ended in red with Oil & Gas, PSU Bank, and Pharma being major losers Says Mr. Siddhartha Khemka, Motilal Oswal
![](https://portfolio.investmentguruindia.com/uploads/news/Broker _15.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 the Quote on Daily Market Commentary by Mr. Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd
Weak global cues and profit booking at higher levels dragged Nifty down to close with a loss of 234 points (-1%) at 22519. All sectors including midcap and smallcap ended in red with Oil & Gas, PSU Bank, and Pharma being major losers. Markets on Wednesday touched a new scale, with Nifty touching 22775 levels. However, uncertainty over the US Fed rate cut timing and concerns about rising tensions between Iran and Israel led to a decline in global markets. The rise in bond yields due to hotter-than-expected US inflation and amendment in the India-Mauritius tax treaty likely to impact FII flow dampened the sentiments. We expect markets to remain volatile in the near term given the global concerns and the start of an election next week. With the onset of the earning season, the focus will more shift toward domestic cues along with macro data points. Markets on Monday will react to India’s inflation data and TCS Q4 numbers which will be released today.
Above views are of the author and not of the website kindly read disclaimer
![](https://portfolio.investmentguruindia.com/uploads/news/cricket27.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/malaika.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/digital13.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/shivraj27.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Narendra Modi 117.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Sanjiv Puri27.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Nirmala27.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Broker _14.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/SEBI27.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Industry27.jpg)
More News
![](https://portfolio.investmentguruindia.com/uploads/news/broker_86.jpg)
Weekly Market Outlook : The market achieved an all-time high, driven by robust domestic GDP ...
![Daily Market Commentary : Nifty traded in negative territory to close near day`s low with loss of 90 points at 18989 levels says Mr. Siddhartha Khemka, Motilal Oswal Financial Services Ltd](https://portfolio.investmentguruindia.com//uploads/news/Broker_4.jpg)
![Quote on Today's fall in market from Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.](https://portfolio.investmentguruindia.com/uploads/news/Broker_88.jpg)
![Market Quote : The market witnessed some resistance at higher levels as caution prevails due to the start of the key state elections Says Mr. Vinod Nair, Geojit Financial Services](https://portfolio.investmentguruindia.com//uploads/news/Broker_4.jpg)