Daily Market Commentary : Investors will be awaiting the outcome of the US-India trade meet to be concluded on Saturday 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
Nifty ended with loss of 77 points at 23,519(-0.3%) on the back of weak global cues as US and Asian markets declined amid uncertainty over US reciprocal tariffs to be imposed from 2nd April. Investors will be awaiting the outcome of the US-India trade meet to be concluded on Saturday. Broader market witnessed profit booking with Nifty Midcap100 and Smallcap 100 indices falling by 0.3% and 0.2% respectively. Amongst sectors, Nifty IT was the top loser, declining by 1.8%, followed by Realty, Auto, Metal and Pharma indices falling between 0.5-1.5% each. We expect auto and auto ancillary stocks to remain under pressure, given the weak domestic demand expectation across most segments in Mar’25 and 25% tariffs imposed on US imports of cars and light trucks. On the macro front, the US GDP grew at an annual rate of 2.4% in Q4CY24, up from the previous estimate of 2.3%. However, there are increasing concerns that a growing range of tariffs imposed by Trump, could hamper businesses and fuel economic slowdown. Markets will track the US CPI for February to be released later today. FIIs were net buyers of over Rs11,000 crore on Thursday, turning net FII flows positive for March’25 by Rs6,300 crores, which extended support to the domestic market sentiment. Market will closely monitor the outcome of the ongoing US-India trade talks and are expected to remain in consolidation mode with a positive bias on hopes of continued FII buying interest.
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