Daily Market Commentary : Nifty opened gap up and saw a one side movement to close with gains of 419 points (+2%) at 20689 levels says Mr. Siddhartha Khemka, Motilal Oswal Financial Services Ltd
![](https://portfolio.investmentguruindia.com//uploads/news/Broker_87.jpg)
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 Daily Market Commentary On 04 December 2023 by Mr. Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd
Indian equities celebrated BJP's sweeping victory in the three states by rallying more than 400 points to hit fresh high of 20702 levels. Nifty opened gap up and saw a one side movement to close with gains of 419 points (+2%) at 20689 levels. All sectors ended in green, barring pharma. Oil & Gas, Banking and financials were top gainers up 3% each. Government related sectors like Infra, Capital Goods, Power, Railways, defence and PSU stocks were in momentum today. The outcome overwhelmingly in favour of the incumbent BJP, strong macroeconomic data and easing global interest rate expectations boosted the market momentum. Nifty has rallied by 1865 points or 10% from its low of 18837 made in October 23. We expect market sentiment to strengthen further as the ongoing pre-election rally is quite strong now. Given the government’s focus approach towards long-term capex across key areas, we expect BFSI, Industrials, Real Estate, Auto and Consumer Discretionary to do well going forward.
Above views are of the author and not of the website kindly read disclaimer
![](https://portfolio.investmentguruindia.com/uploads/news/Mining Sector_438.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/IPO 6.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/yes bank_78.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Gv_Couple_Tourism.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Shiping_123.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/real estate 25.01.2024.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Amara Raja Batteries Ltd.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Signature 2.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Amara Raja Batteries Ltd.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Sankha Bhowmick Chief Human Resources Officer WhiteOak Capital Management.jpg)
Tag News
![](https://portfolio.investmentguruindia.com/uploads/news/Shrikant Chouhan.jpg)
Quote on Sensex crossing 80000 mark by Shrikant Chouhan, Head Equity Research, Kotak Securities
More News
![](https://portfolio.investmentguruindia.com//uploads/news/broker_85.jpg)
Quote on BSE listed companies surpassing $4 trillion market cap from Alchemy Capital Management
![Technical Comments By Vaishali Parekh, Prabhudas Lilladher Pvt. Ltd.](https://portfolio.investmentguruindia.com/uploads/news/Prabhudas Lilladher.jpg)
![Daily Market Analysis : Markets took a breather after six days of advance and shed over half a percent Says Mr. Ajit Mishra, Religare Broking](https://portfolio.investmentguruindia.com/uploads/news/Ajit Mishra.jpg)
![Market Quote : Strong US job data is reinforcing Fed`s hawkish stance and multi-year high US bond yields Says Mr. Vinod Nair, Geojit Financial Services](https://portfolio.investmentguruindia.com/uploads/news/a605a59fe4e87d5fb00c24c2c5164ffc.jpg)