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

Markets ended lower on Thursday, with the Nifty50 closing at 25,111, down 0.4%. Volatility persisted amid the Nifty’s weekly F&O expiry, while the broader indices also remained weak — the Nifty Midcap100 and Smallcap100 declined 0.1% and 0.2%, respectively. Sectorally, profit booking was seen in PSU stocks after the previous session’s sharp rally, dragging the Nifty PSU Bank index down 0.8%. Nifty IT led the losses, falling 1.4%, as sentiment remained fragile amid a cautious start to the Q1 earnings season. Asian markets traded lower as the U.S. struck a one-sided trade deal with Indonesia. Under the agreement, Indonesian exports to the U.S. will face a 19% tariff, while U.S. exports to Indonesia will enjoy zero tariffs or non-tariff barriers, highlighting the imbalance in trade concessions. Media reports indicated the US may offer India a tariff rate below 20% amid ongoing trade discussions in Washington DC. Going forward markets are likely to remain in consolidation mode, with focus on ongoing earnings and progress in US-India trade negotiations. Key results on Friday include Reliance Industries, JSW Steel, and L&T Finance.

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