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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 in the red for the 10th consecutive trading session, closing 37 points lower at 22,083 level. The market was impacted by weak global sentiments as the U.S. officially implemented 25% tariff on imports from Canada and Mexico, while Chinese goods face a cumulative 20% duty following an additional 10% levy imposed by President Trump. The broader markets staged a recovery, with Nifty Midcap 100 gaining 0.1% and Smallcap100 rising by 0.7% as some value buying was seen at lower levels. Amongst sectors, Oil and Gas and PSU Banks gained, while Auto and IT indices declined amidst selling pressure. Shares of Oil Marketing Companies gained momentum as crude oil prices fell to a near three-month low after the OPEC signalled on Monday that it will proceed with a planned oil output increase in April. Defence stocks surged, mirroring the rally in European defence counters. Given weak global cues and lack of domestic triggers, Indian equities are expected to remain largely subdued; though a continued buying interest in the broader market could provide some support to the market.

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