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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 managed to close in the green despite cautious cues from the global markets, backed by continued buying interest and supportive RBI policy. Nifty ended higher by 42 points at 24,167 level (+0.2%), extending gains for the sixth straight session amid subdued sentiment in Asian markets and overnight losses in US equities. The US Dollar index continued its decline, hitting a three year low amid US trade tensions and President Trump's criticism of Fed Chair Jerome Powell for not cutting interest rates, raising concerns about the president's influence over the central bank. FIIs continued to remain net buyers for the fourth consecutive session on Monday with inflows of nearly Rs2,000 crore, which extended support to the market. Broader market outperformed with Nifty Midcap100 and Smallcap100 indices gaining 0.7-0.8% each. Nifty Bank gained 0.6% as the RBI announced lower than proposed LCR requirement on deposits, giving banks more flexibility in managing funds (applicable from April’26). Nifty Metal made modest gains as the Indian government imposed a 12% provisional safeguard duty for 200 days on five steel product categories to protect domestic players against surge in cheap imports. The IT index declined by 0.6%, tracking losses in the US tech-heavy Nasdaq index. We expect the gradual up-move to continue in the market on hopes of a Bilateral Trade Agreement between India and US, sustained FII buying and supportive RBI policies. While action would continue on the stock/sector front on the back of Q4 corporate earnings. Companies like LTI Mindtree, TATA Consumer, Bajaj housing, 360 One WAM amongst others will be announcing results on Wednesday.

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