Daily Market Commentary : Domestic equities gained for 6th consecutive day, trading in unchartered territory says Mr. Siddhartha Khemka, Motilal Oswal Financial Services Ltd
Below the Quote on Daily Market Commentary by Mr. Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd
Domestic equities gained for 6th consecutive day, trading in unchartered territory. After a subdued start, Nifty bounced back into positive territory and made yet another new high above 22200 zone. The index closed with gains of 75 points at 22197 levels. Broader market, however, ended in the red. Sector-wise it was a mixed bag with buying seen in Banking, Financials, and Realty. We expect market sentiment to strengthen further as the prospect of a pre-election rally is quite strong. Further, the BSE market cap has touched a record high of $4.7 trillion, thus, showing strength in the market. Globally, investors await the release of US FOMC meeting minutes as this would provide some insights into the US Fed’s future direction.
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