Daily Market Commentary : Nifty made another new high amid intra-day volatility and closed with handsome gains of 100 points (+0.4%) at 25152 levels Says Mr. Siddhartha Khemka, Motilal Oswal
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Below the Quote on Daily Market Commentary by Mr. Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd
Nifty made another new high amid intra-day volatility and closed with handsome gains of 100 points (+0.4%) at 25152 levels. Sector-wise it was a mixed bag with buying in Oil & Gas, FMCG, and Auto. Broader space, however, underperformed with Midcap 100/Smallcap 100 down 0.4%/0.5% respectively. Focus during the day remained on Reliance AGM wherein the company announced to consider 1:1 bonus along with various other strategic investments. Market continued its winning streak for the 11th consecutive day and we expect this gradual uptick to continue with Nifty making fresh highs day on day. This will be supported by India’s rating being maintained globally (Rating agency Fitch affirmed India’s rating at 'BBB-' with a stable outlook) on the back of a strong medium-term growth outlook and strengthening fiscal credibility.
Above views are of the author and not of the website kindly read disclaimer
