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Below the Daily Market Commentary On 22 December 2023 by Mr. Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd

Nifty gained for second consecutive day after witnessing sharp fall on Wednesday. The index closed with gains of 94 points at 21349 levels.  Majority of the sectors ended in green with buying seen in IT, Realty, Metals and Pharma. Rising bets on US Fed to cut interest rate early next year pushed the dollar and bond yields lower after US reported weaker-than-expected Q3 GDP growth at 4.9%. Thus, the underlying tone of the market remains positive. However, as we enter into holiday mood starting this weekend, we expect market to remain range bound with stock specific action next week.

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