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Below the Quote on Daily market commentary by Mr. Siddhartha Khemka, Head - Research, Wealth Management, Motilal Oswal Financial Services Ltd

Indian equity markets rebounded on Tuesday, with Nifty closing 92 points higher at 23,707 (+0.4%), supported by gains in the US markets and no significant update on the HMP Virus. Broader market indices outperformed with Nifty Midcap100 and Smallcap100 rising 0.9%/1.3% respectively. Buying interest was seen in healthcare, oil & gas and metal sectors. With the news flow expected to continue around HMPV, we expect healthcare sector to remain in focus. Infact, for hospitals, we expect Q3FY25 profitability to improve due to addition of beds, higher volumes, and optimization of the payer mix. Rising crude prices led to buying interest in oil & gas stocks. On the other hand, IT sector witnessed profit booking. Investors will watch out for India’s GDP data along with US non-manufacturing PMI and US Jobs data to be released later today. Foreign institutional investors (FIIs) continued their selling spree, offloading Rs 2,575 crore worth of equities on Monday. We expect markets to remain in a range amidst news flows over HMPV, pre-quarterly business updates, and take cues from the upcoming Q3 results.

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