Daily Market Commentary : Nifty opened gap down amid weak global cues Says Mr. Siddhartha Khemka, Motilal Oswal
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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 opened gap down amid weak global cues. The index however saw a gradual recovery and closed with a minor loss of 81 points at 25199 levels. Barring FMCG, Pharma & Realty all sectors ended in red. Markets after gaining in the last two weeks, saw a decline amid global concerns. However, buying at lower levels indicates the resilience of domestic equities in the face of global volatility. We expect Nifty to consolidate at a higher zone with intermittent volatility as key US economic data are lined up this week. Defensive sectors like FMCG & Pharma are likely to remain in focus.
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