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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 lower for the second consecutive day, declining 225 points to close below 25k mark at 24,837 (-0.9%). Financial stocks, particularly Bajaj Finance, led the sell-off due to concerns over asset quality. Global uncertainties, lack of progress in India-US trade negotiations, and continuous selling by foreign investors further contributed to the market's negative performance. The broader market underperformed significantly with Nifty Midcap100 and Smallcap100 falling by 1.6% and 2.2% respectively. Pharma and Healthcare indices showed resilience, closing higher by 0.6-0.7% each, amid a broad based sectoral sell-off. In a positive development, the India-UK free trade agreement (FTA) was signed in the presence of PM Narendra Modi and UK PM Keir Starmer. The trade deal which was agreed upon in May this year, aims to enhance bilateral trade to $120 billion by 2030, effectively doubling the current trade volume between both nations. On the macro front, the European Central Bank kept interest rates unchanged, but flagged downside risks to growth in the Eurozone. Overall, we expect market to remain in consolidation mode amid continued uncertainty around India-US trade deal, a mixed Q1FY26 earnings season so far and intensifying FII outflows. Key results over the weekend include Kotak Mahindra bank, Macrotech Developers, CDSL amongst others.

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