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Daily Market Commentary : Indian equities were muted today post strong gains witnessed during the first session of Samvat 2080 on Diwali yesterday says Mr. Siddhartha Khemka, Motilal Oswal Financial Services Ltd
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Below the Daily Market Commentary On 13 November 2023 by Mr. Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd
Indian equities were muted today post strong gains witnessed during the first session of Samvat 2080 on Diwali yesterday. This was largely due to the absence of domestic participation amid festive vibes and market holiday tomorrow. Nifty remained in negative territory throughout the session today to close with loss of 82 points (-0.4%) at 19444 levels. However broader market managed to close in green with midcap100/smallcap100 up 0.1%/0.7%. Investors would react to India's inflation data on Wednesday as India’s CPI data is due today while WPI data is due tomorrow. In this truncated trading week, we expect market to consolidate in a broader range due to lack of major events and Q2 earning season coming to an end.
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