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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 soared on Thursday, with the Nifty jumping 1.6% to close at 25,062 breaching the 25,000 mark for the first time since October 2024, signaling a strong comeback for the bulls. The rally was triggered by positive comments from U.S. President Donald Trump, who stated that India had offered to drop tariffs on U.S. goods as part of trade negotiations and traders swiftly covering their short positions. Broader markets also participated in the upmove though underperformed the Nifty. Nifty Midcap 100 and Smallcap 100 indices gaining 0.7% and 0.5%, respectively. All sectoral indices ended in the green. Nifty Realty led with gains of 1.9%, while auto stocks extended their rally for the third straight session. Defense stocks remain in focus, buoyed by strong domestic demand and rising export optimism, having gained nearly 11% this week. Market volatility remained elevated through the day, partly due to the weekly expiry of Nifty derivatives. On the institutional front, both FIIs and DIIs turned net buyers on Wednesday, collectively purchasing around Rs.1,200 crore, providing further support to the market's momentum. Globally, the UK posted better-than-expected Q1 GDP growth of 0.7%. Investors now await key global data releases—U.S. Initial Jobless Claims, U.S. Retail Sales, and Japan’s GDP—which could guide near-term market direction. On the earnings front, results from Hyundai Motors, BHEL, CreditAccess Grameen, and Eureka Forbes are due on Friday—potentially driving stock-specific action.

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