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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 took a breather after a 7-day rally, with Nifty50 ending 82 points lower at 24,247(-0.3%); as investor sentiments turned cautious amid mixed global cues. Profit booking was seen in some of the index heavyweights, which contributed to the decline in the benchmark indices. Both Nifty Midcap100 and Smallcap100 managed to end on a flat note. Among the sectoral indices, Realty and FMCG were among the top laggards, shedding over 1% each. FMCG stocks declined following weaker than expected margin guidance from HUL, though the Q4 numbers were largely in-line for the FMCG companies that have declared results so far. On the other hand, Nifty Pharma was up 1%; while Healthcare and Metal indices closed marginally higher. FII buying continued for the sixth consecutive day with inflows of ~Rs3,300 crores on Wednesday, supporting the market sentiment. In a positive development, the US Treasury Secretary indicated that India could be the first country to sign a trade deal with the US. After a rally of 12% in the last 10 trading sessions, Indian market is expected to consolidate with a positive bias. Global market cues and Q4 corporate earnings would be the key drivers for the market. Key results to watch out on Friday include those from heavyweights like Reliance, Maruti, Hindustan Zinc, Shriram Finance, Cholamandalam Inv amongst others.

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