Daily Market Commentary : Global headwinds continued to impact domestic equities says Mr. Siddhartha Khemka, Motilal Oswal Financial Services Ltd
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Daily market commentary 19 October 2023 by Mr. Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.
Global headwinds continued to impact domestic equities. Nifty opened lower but managed to recover some of the losses to finally close with 46 points at 19625 levels. Among sectors, Auto, FMCG and Consumer Durable were major gainers today. US Fed chair Jerome Powell’s speech late Thursday would be key trigger for the market as it will provide some clarity over future interest rate hike. This along with the escalating situation in middle east, would keep market sentiments subdued. Thus we advise investors to stay cautious in near term. On the result front, Dalmia Bharat and ultratech reported healthy numbers. Even in 2W space Bajaj Auto posted good set of number. Thus, we expect Cement and Auto sectors to remain in focus.
Above views are of the author and not of the website kindly read disclaimer
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