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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 closed higher on Wednesday, with the Nifty rising 0.4% to end at 24,667 – buoyed by a late surge in buying interest during the final hour of trade. Broader markets outperformed, with the Nifty Midcap100 and Smallcap100 indices gaining 1.1% and 1.4% respectively, reflecting sustained investor interest in the broader market. Most sectors ended in the green. Nifty Metal was the top gainer, up 2.5%, as easing trade tensions between the US and China lifted sentiment across metal stocks. Nifty IT also saw a 1.3% uptick, rebounding after profit booking in the previous session. Defence stocks continued to witness momentum, backed by strong domestic demand and export optimism. On the macro front, India's retail inflation cooled to a six-year low of 3.16% in April, marking the third straight month below the RBI's 4% target—boosting hopes of policy support if required. In the US, CPI eased to 2.3% in April, the lowest level since February 2021, reaffirming expectations of a dovish tilt from the Fed. Investor focus now shifts to key global events scheduled for Thursday, including GDP data from the UK and Japan, and US initial jobless claims. On the earnings front, quarterly results from LIC Housing Finance, Kaynes Technology, and Cochin Shipyard are expected to drive stock-specific action. The positive momentum in Indian markets is likely to persist, supported by easing geopolitical tensions, progress on trade agreements, and improving signs of macroeconomic stability.

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