Daily Market Commentary :Global markets remained firm, with European indices and U.S. futures trading higher Says Mr. Siddhartha Khemka, Motilal Oswal
Below the Quote on Daily market commentary by Mr. Siddhartha Khemka, Head - Research, Wealth Management, Motilal Oswal Financial Services Ltd
Indian markets opened strong, with Nifty50 touching a 9-month high during the day, driven by a global relief rally after a ceasefire was announced between Iran and Israel. However, gains were trimmed as reports emerged of a breach in the truce, leading the index to close with gains of 72 points (+0.3%) at 25,044. The shift in sentiment reflected lingering geopolitical uncertainty. Broader markets outperformed, with Nifty Midcap100 and Smallcap100 rising 0.7% each, indicating healthy investor interest. Global markets remained firm, with European indices and U.S. futures trading higher. Banking and financials extended their uptrend on improving liquidity and easing regulatory norms. Defence stocks saw profit booking after recent sharp gains, while Oil & Gas declined as Brent crude fell on easing supply concerns. Going ahead, markets are expected to remain firm driven by reducing geopolitical concerns, and positive domestic cues.
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