Daily Market Commentary : In a highly volatile session, Nifty ended with gain of 81 points at 24,834 (+0.3%), tracking positive cues from Asian markets and US equity futures 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
In a highly volatile session, Nifty ended with gain of 81 points at 24,834 (+0.3%), tracking positive cues from Asian markets and US equity futures. Global market sentiments were buoyed by a ruling from the U.S. Court of International Trade, which declared retaliatory tariffs unlawful and beyond presidential authority. Broader market outperformed with Nifty Midcap100 and Smallcap100 indices rising 0.6% each. Notably, the Smallcap Index extended its winning streak to a fifth consecutive session, signalling sustained buying interest in smallcap counters. Among sectoral indices, Nifty Metal led with a 1.2% gain, followed by Realty and Pharma indices, up 1.1% and 0.9% respectively. Nifty IT advanced 0.8%, supported by upbeat sentiment after Nvidia's strong quarterly results. On the flip side, FMCG, Banking, and Financial Services indices ended in the red on account of selling pressure. Investor confidence was weighed down by weak Industrial Production (IIP) data, which slowed to an eight-month low of 2.7% in April. Investors remain cautious ahead of key macro-economic releases — the US Q1 GDP data (due today), followed by US April retail inflation and India’s Q4 GDP figures tomorrow. Looking ahead, we expect the market to remain range-bound, with sector rotation and stock-specific movements driven by the final set of Q4 results on Friday, macro-economic indicators, and developments on the US tariff front.
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