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

Equity markets closed lower as ongoing geopolitical tensions and global uncertainty weighed on investor confidence. The Nifty50 slipped -0.4% (93 pts) to end at 24,853, while the Nifty Midcap100 and Smallcap100 indices declined around -0.8% each. Caution deepened after US President Donald Trump cut short his G7 visit amid the escalating Middle East crisis, urging Iranians to evacuate Tehran immediately. Media reports of possible US tariffs on pharma imports are likely to keep Indian pharma stocks under pressure. On the flip side, defence stocks are expected to remain in focus amid escalating Israel-Iran tensions and heightened geopolitical rhetoric. Meanwhile, IT stocks may see renewed interest ahead of the US Fed meeting scheduled for June 18. Going forward, market direction will be guided by global cues, with volatility expected around key central bank announcements as well as geopolitical developments.

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