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

 Nifty after marking a new high at 22794 levels, witnessed profit booking and came under pressure. It closed with a loss of 172 points (-0.8%) at 22476. Volatility index India VIX rose sharply by 8% at 14.62, indicating cautiousness in the market. Baring Pharma and Healthcare, all sectors ended in red. A relief rally was seen in Bajaj Finance after RBI lifted restrictions from its eCOM, Insta EMI Card with immediate effect which was a major overhang on the company. Nifty opened higher on the back of positive and made a new high of 22794, just six points below the 22800 mark. The index witnessed profit booking amid increasing volatility and nervousness at the higher zone. We expect the market to consolidate in a broader range and base to gradually shift higher. On Monday markets will react to US Employment data and Q4 results of companies like Dmart and Kotak Bank that will be announced on Saturday.

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