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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 despite opening flat, witnessed pulled in the second half, to close above 24,250. Broader markets outperformed, with the Nifty Midcap and Smallcap indices rising 0.6% and 1%, respectively. Sectorally, buying interest was seen in auto, banking, energy, FMCG, and media, while IT, pharma, PSU banks, realty, and healthcare faced selling pressure. NTPC Green Energy had a stellar listing with stock closing at 10% upper circuit. Defence sector saw a pullback in the last 2 days after a sharp correction over the past 2-3months. Easing geopolitical concerns and record highs on Wall Street lifted sentiment, while FPI inflows resumed after two months of selling pressure. US Federal Reserve minutes highlighted optimism about easing inflation and a resilient labor market, creating scope for gradual interest rate cuts. Investors now await key US economic data releases later today, including the second estimate of Q3 GDP growth, PCE inflation data, and initial jobless claims, which will provide further market direction.

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