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Below the Daily Market Commentary On 05 December 2023 by Mr. Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd

Nifty continued its winning streak for sixth consecutive day and close with gains of 168 points (+0.8%) at 20855 levels. Metals, Banking, Oil & Gas and Consumer Durables were among top gainers in the sector. Rally was seen in Adani Group stocks after Bloomberg reported US agency concluded accusations against conglomerate weren’t relevant. Upstream Oil companies were also in focus after OPEC+ extended its production cut to Q1CY24. The global and domestic markets made a smart comeback as investors remained convinced that rate-hike cycle has ended. This coupled with strong institution flows and economic data added to the positivity. FIIs have remained net buyers to the tune of ?17133crs in the last eight trading session. Going forward, Investors will take cues from US Service PMI and Jolt Jobs data that will be released late today.

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