Daily market commentary : Domestic equities were cautious ahead of key inflation data in US & India today Say`s Mr. Siddhartha Khemka, Motilal Oswal Financial Services Ltd
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Below the Daily Market Commentary On 12 December 2023 by Mr. Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd
Domestic equities were cautious ahead of key inflation data in US & India today. Nifty gave up its initials gains and ended the session with a loss of 91 points at 20906 levels. Except Metals and Financial Services, all sectors ended in red. Oil & Gas, Realty and Auto were major loser today. Fertilizer stocks recorded smart gains after new report that Govt. has sort for Parliament's consent for additional Rs13,350crore fertilizer subsidy for FY24. Globally investors await US inflation data as this would provide some clues on Federal Reserves’s move in its policy meeting which will commenced from today. Fed’s policy outcome will provide some direction, untill than market are expected to consolidate. IPO market is again action with six IPO’s in pipeline starting with India Shelter Finance and DOMS open for subscription on Wednesday.
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