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Below the Quote on Daily Market Commentary : Broader market gains as Midcap100/Smallcap100 rise 0.7-0.8% Says Mr. Siddhartha Khemka, Motilal Oswal

Today was the day for the broader market as it regained strength with midcap 100 and smallcap 100 up 0.7%/0.8% respectively after underperforming Nifty in the previous session. Nifty, however, fizzled out and closed with a minor loss of 32 points at 25357. Barring Oil & Gas, FMCG & Healthcare all sectors ended in red. Market gave up its early gains on the last day of the week, but momentum continued in the mid-small cap. We expect the market to consolidate in a broader range and investors to remain cautious as major banks around the world will announce their policy statements next week. With a 25bps rate cut by the ECB and China expected to cut rates on $5tn mortgages upcoming meeting, hopes of an interest rate cut by the US Fed are higher. This has been further strengthen by recently released inflation and disappointing Employment data in US. Thus, Interest-sensitive sectors are likely to be in focus next week

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