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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 ended marginally higher for the second straight session, closing at 24,855 (+0.14%), led by strength in index heavyweights such as L&T and Sun Pharma, along with value buying in select blue-chip names. However, broader market sentiment remained cautious amid uncertainty over the India-U.S. trade agreement and the U.S. Federal Reserve’s upcoming policy decision. The Nifty Midcap100 and Smallcap100 indices declined 0.07% and 0.52%, respectively. The IMF raised India’s GDP growth forecast to 6.4% for both FY26 and FY27, citing easing global trade tensions. Meanwhile, reports indicate that the India-U.S. trade deal remains unresolved, with potential tariff rates in the 20–25% range under consideration. Domestic institutional investors (DIIs) continued to support the market, partially offsetting sustained foreign investor outflows. Globally, markets are expected to remain in a wait-and-watch mode ahead of key U.S. macro data — including the Fed rate decision, Nonfarm employment report, Q2 GDP estimates — and China’s Manufacturing PMI. On the earnings front, key results expected on Thursday include Vedanta, Swiggy, TVS Motors, and Thermax. Markets are expected to remain in consolidation mode, with stock-specific action likely as the earnings season progresses. Additionally, the Fed’s interest rate decision will further steer market direction.

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