Daily Market Commentary : Nifty after trading lackluster for most of the day, witnessed buying in the last half hour to make yet another fresh high Says Mr. Siddhartha Khemka, Motilal Oswal
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Below the Quote on Daily Market Commentary by Mr. Siddhartha Khemka, Head - Research, Wealth Management, Motilal Oswal Financial Services Ltd.
Nifty after trading lackluster for most of the day, witnessed buying in the last half hour to make yet another fresh high. The index finally closed with gains of 64 points at 26004 levels. Broader market underperformed with the Nifty midcap 100 down -0.6% and the Nifty smallcap 100 down -0.4%. Sector-wise it was a mixed bag with buying seen in Realty, Metals & Financials. Metal sector saw buying after China’s central bank announced stimulus and rate cuts to boost the economy. Markets made a new all-time high for the sixth consecutive session supported by positive global cues and strong domestic flows. We expect Nifty to continue its upwards journey, amid monthly derivative expiry on Thursday which may induce some volatility.
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