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

Indian equities ended marginally lower on Thursday. Markets remained range-bound amid global caution, as investors awaited developments on several US trade agreements. The Nifty50 fell 48 points to close at 25405, down 0.2%, while broader indices remined firm, with the Nifty Midcap100 up 0.03% and the Smallcap100 outperforming +0.26%, reflecting sustained strength in select SMID stocks. In a positive development for domestic financials, RBI’s calibrated rate cuts and liquidity measures in 2025 have strengthened monetary transmission, supporting credit growth amid benign inflation and fiscal consolidation. On the trade front, sentiment was supported by comments from US President, indicating a potential US-India trade deal could be announced soon. Meanwhile, both countries also agreed to finalize a new 10-year defence cooperation framework, underscoring deepening strategic ties by the end of the year. Looking ahead, markets are expected to remain in consolidation mode, with participants likely to adopt a wait-and-watch approach amid ongoing trade negotiations and key US economic data releases—such as jobless claims, nonfarm payrolls, services PMI, and the unemployment rate—due later today. Investors will also keep an eye on Q1 business updates, which could drive stock-specific action.

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