IGI Logo

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

Indian equity markets ended mildly higher on Wednesday, with the Nifty closing at 25,141, up 0.15%. While frontline indices held firm, some profit booking dragged broader markets, with the Nifty Midcap 100 and Smallcap 100 down over 0.5%. Sectoral performance was mixed. IT stocks remained in focus, supported by easing concerns over a U.S. recession following progress in the U.S.-China trade framework and developments around the India-EU FTA. Positive global cues and relief over trade tensions triggered a rally across key global markets. Metal stocks also saw interest on hopes that renewed U.S.-China trade progress could revive global commodity demand. Government capex has been front-loaded in FY26, with combined central and state spending in March–April rising 68% YoY. This is positive for railway, defense, and capital goods players. Additionally, reports suggest a ?30,000 crore procurement of QRSAM air defense systems for deployment along strategic borders, reinforcing confidence in the defense sector’s order pipeline. Crude oil prices surged to a two-month high, with Brent crossing $67/bbl, supporting upstream oil companies and potentially benefiting OMCs in the near term. Looking ahead, market participants will closely track key economic data points, with U.S. CPI due later today, followed by the UK GDP print and India’s CPI inflation reading on Thursday. Positive developments on the U.S.-China trade front and the India-EU FTA could also influence sentiment and set the tone for near-term market direction.

Above views are of the author and not of the website kindly read disclaimer