Daily Market Commentary : Crude Oil Dip and Weak Dollar Boost Market Sentiment Says Mr. Siddhartha Khemka, Motilal Oswal
Below the Quote on Daily market commentary by Mr. Siddhartha Khemka, Head - Research, Wealth Management, Motilal Oswal Financial Services Ltd
Nifty50 ended with a gain of 192 points at 25,236 (+0.8%), tracking positive global cues as tensions in the Middle East eased following a tentative ceasefire between Israel and Iran. A decline in crude oil prices and the US Dollar Index further supported market sentiment. Broader market participation remained strong, with both midcap and smallcap indices outperforming. Notably, the Nifty Smallcap100 has gained for four consecutive sessions, adding nearly 4% during this period. Nifty IT emerged as the top sectoral performer, rising over 1.5%, mirroring strength in the US Nasdaq index, which climbed 1.4% to close at a record high on Tuesday. Investor would now await the US Q1 GDP data, scheduled for release on Thursday, which could provide insights into the US economic growth trajectory. On the domestic front, investors would focus on financials, supported by the RBI's recent liquidity-easing measures. Monsoon-linked sectors are also expected to be in spotlight as rainfall trends improve. Meanwhile, capital market-related stocks are expected to benefit from heightened activity in the broader market and a robust IPO pipeline. Overall, we expect the Indian market to remain firm on the back of reduced global geo-political concerns and positive domestic cues.
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