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

Markets consolidated at a higher zone after Nifty made another fresh high of 23026 level. Nifty traded sideways throughout the session to close with a loss of 17 points at 22951 levels. Sector-wise it was a mixed bag with buying seen in Oil & Gas, Banking, and Financials. Markets are continuously making steady gains with Nifty achieving a historic mark of 23k zones just after a few days of BSE listed companies Market cap crossing $5tn. Further, India saw a record rise in exports and employment at an 18-year high in May. Thus, easing in FII selling and healthy domestic macro data supported the positive sentiments in the market. Overall we expect the market to witness a gradual up-move and see some volatility next week as both election and earning season are nearing the end.

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