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Below the Daily Market Commentary On 30th October 2023 by Mr. Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd

Domestic equities saw some buying interested boosted by impressive corporates earnings and increasing hope that US Fed might keep interest rate on hold in its upcoming meeting on 1^st November. Nifty opened lower but soon regained strength and closed with gains of 94 points (+0.5%) at 19141. Majority of the sectors ended in green with buying seen in Realty, Oil & Gas, Banking and Financials. In the near term, we expect markets to consolidate as investors await interest rate decisions from major central banks including Bank of Japan, Bank of England and US Federal Reserve this week, looking for guidance about future interest rate decisions. Stock specific action is likely to continue in the market with ongoing result season.

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