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Below the Quote on Daily market commentary by Mr. Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.

Domestic equities joined the global rally after the US and UK central banks kept the rate unchanged. Nifty after a subdued start edged higher to close with gains of 85 points (+0.4%) at 22097 levels. Broader market too ended in the green. Barring IT, all sectors ended in green with Auto, Pharma, and Realty being top gainers.  IT sector saw some selling after US technology major Accenture lowered its revenue forecast for FY24. Accenture revised its full-year revenue growth projection at 1 % to 3 % from 2 % to 5 %. Markets opened weak but soon gained momentum including broader space amid positive cues. Next week being a truncated week and the derivatives' monthly expiry, we might see some volatility while Nifty is likely to consolidate at higher levels. Also, US GDP data and other key economic data would keep investors busy.

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