Daily Market Commentary : Barring Metals, PSU Bank, and Realty, all sectors ended in red Says Mr. Siddhartha Khemka, Motilal Oswal
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Below the Daily market commentary by Mr. Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.
After making a fresh high, Nifty erased its gains in the last hour and closed with a loss of 142 (0.6) at 22055 levels. Barring Metals, PSU Bank, and Realty, all sectors ended in red. Realty sector was in the limelight amid strong demand and rising prices. Markets turned cautious ahead of the release of US Fed meeting minutes and key earnings from chip-maker giant Nvidia. Investors will look out for any cues about the potential trajectory of U.S. interest rates from the meeting minutes. Further, after gaining for six consecutive days, Nifty saw some profit booking at higher levels. However, the overall structure remains positively supported by strong buying by DIIs. Some of the other key events to watch out for are Europe inflation data, RBI meeting minutes and US existing home sales data.
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