Daily Market Commentary : Cement stocks witnessed fresh buying on the expectation of improved demand ahead of the Union Election says Mr. Siddhartha Khemka, Motilal Oswal Financial Services Ltd
Below the Daily Market Commentary On 11 January 2024 by Mr. Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd
Nifty traded sideways throughout the session to close marginally positive at 21647 levels ahead of US inflation data and start of Q3FY24 earnings season from today. Among the sectors, Oil and Gas, Consumer Durables, Auto, and PSU Bank were top gainers today. Cement stocks witnessed fresh buying on the expectation of improved demand ahead of the Union Election. Market on Friday would react to US and China inflation data that will be released late today. Also domestically, Investors are likely to trade cautiously as India will release inflation data on Friday. Hence, we expect the market to trade within the current range, along with stock-specific actions. IT space is expected to be in focus tomorrow as investors would react to TCS and Infosys Q3 results. Their management commentary and guidance would provide an insight into the future outlook for the secto
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