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

Nifty opened in red and traded sideways throughout the session to close with a loss of 126 points (-0.5%) at 24,341. Broader markets outperformed with Midcap Index up 0.2% while Smallcap Index ended with gains of 1%. All the sectoral indices were flat to negative except FMCG which gained 0.9% supported by good quarterly results from FMCG giant Marico. Globally, markets may be seen reacting to US Q3 GDP data to be released later today. FIIs continue their selling streak while the DIIs remain net buyers, although trading activity remain subdued ahead of Diwali this week. Markets are facing pressure and tend to remain volatile amid uncertainty around US presidential elections slated to be held on November 5th. The second leg of Q2 results will resume in the next week post-Diwali. Market seems to have taken support at lower levels and is likely to consolidate over the next few days.

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