IGI Logo

Below the Daily Market Commentary On 27 December 2023 by Mr. Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd

Domestic equities surged higher supported by positive global cues and sharp decline in India’s current account deficit to 1%. Nifty made a fresh high of 21676 supported by buying in index heavy weights and closed with handsome gains of 213 points (+1%) at 21655 levels. All sectors ended in green, baring Oil & Gas. PSU Banks and Metals were top gainers today up 1-2% each. Cement sector was in limelight on the expectation of strong volume growth. Healthy macro data and rally in global markets helped Nifty to make new highs even in the in the holiday season. While the derivatives monthly expiry on Thursday may infuse some volatility, the undertone remains bullish with the market making steady gains in the last few weeks.

Above views are of the author and not of the website kindly read disclaimer