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Below the Quote on Daily market commentary by Mr. Siddhartha Khemka, Head - Research, Wealth Management, Motilal Oswal Financial Services Ltd

Indian equities plunged more than 2% on the back concerns after the rise in geo-political tension in West Asia. While Nifty fell 547 points (-2.1%) to close near the day’s low at 25250 levels, the broader market too witnessed profit booking with mid and small-cap indices down ~2%. All the sectors ended in red with Realty down the most falling by -4%. Global factors like the surge in Brent crude prices, escalation in the Middle-East War, and potential outflow of FIIs from India to China dampened sentiments. We expect the market to witness volatility in the near term with stock-specific action as the companies will announce pre-quarterly updates.

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