Daily Market Commentary : Nifty continued to gained strength for 9th day in a row, but missed to achieve all time high levels by just 5 points Says Mr. Siddhartha Khemka, Motilal Oswal
Below the Quote on Daily market commentary by Mr. Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd
Nifty continued to gained strength for 9th day in a row, but missed to achieve all time high levels by just 5 points. The index finally closed flat at 25018 levels. Majority of the sectors ended in green with buying seen in Financials and Pharma. Markets are optimistic about the US Fed policy rate cut following Jerome Powell's supportive comments and the Federal Reserve’s confidence in achieving its 2% inflation target. Further buying by FIIs over last three days added to the sentiments. We expect this up-move to continue with Nifty likely headed towards new highs in near term supported by broader market and stock specific action.
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