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Below the Quote on  Daily Market Commentary Domestic Equities continued their downward journey with Nifty breaching 25k in intra-day Says Mr. Siddhartha Khemka, Motilal Oswal

Domestic Equities continued their downward journey with Nifty breaching 25k in intra-day. The index finally settled near the day’s low with a loss of 200 points (-0.8%) at 25050 levels. Broader market too saw profit booking and was down 1%. Barring IT & PSU Bank, all sectors ended in red with Realty, FMCG, and Auto down 1-2%. A rise in the volatility index, selling by FIIs, and weak global cues led to profit booking in the market. Nifty shed 1310 points (-5.2%) after making a fresh high of 26277 last week. We expect markets to consolidate next week amid cautiousness due to fear of increasing tensions in West Asia. With the start of the earning season next week, stock-specific action will continue. Also, the focus will remain on interest-sensitive stock amid the RBI policy meeting next week. Although rate cut is not on the table, commentary will hold great importance.

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