Daily Market Commentary : Nifty opened higher but soon gave up its initial gains to close with a loss of 140 (-0.6%) at 22303 levels Says Mr. Siddhartha Khemka, Motilal Oswal
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Below the Quote on Daily market commentary by Mr. Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd
Nifty opened higher but soon gave up its initial gains to close with a loss of 140 (-0.6%) at 22303 levels. The broader market underperformed down almost 2%. Except for IT and FMCG, all sectors ended in red. Realty, PSU Bank, and Metals were top losers down 2-3% each. Domestic equities are witnessing bouts of volatility despite the rally in global markets. Although Nifty opens positive, it is witnessing resistance at higher levels, indicating cautiousness among the investors with the progress of both the result season and the Lok Sabha election. We expect this volatile move to continue till the Exit poll. Hence market to remain in a broader range until clarity emerges.
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