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

Nifty ended in the red, losing 109 points at 24324 levels amid profit booking. Baring Pharm, FMC & Oil & Gas all the sectors ended in red. Paint stocks were in momentum and among the gainers after media reports suggested that some of the companies had hiked prices. Auto sector came under pressure and was down 2% after both M&M and Tata Motors slashed prices for select models in the SUV segment. We expect the market to consolidate in the higher zone and any dip is a buying opportunity for long-term investors. Corporate earnings will start tomorrow with TCS first to announce numbers. Thus, the IT sector is expected to remain in focus.

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