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Below the Daily Market Commentary On 10 November 2023 by Mr. Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd

Nifty ended the Samvat 2079 on a positive note despite several global challenges. Nifty gained 9.4% in this period and made a new life high crossing 20k mark for the first time. As we get into Samvat 2080, we believe markets would continue its outperformance on the back strong earnings and healthy economic outlook.

On Friday, Nifty opened negative but buying in the second half of the day helped indices to close with marginal gains of 30 points at 19425 levels. Sectorially it was mixed bag with buying seen in Metals, Oil & Gas and Financial services. Weak global cues after Fed Chair Powell strong stance to bring down inflation weighed on sentiments. However, lower level buying helped domestic equities to hold 19400 zone. We expect market to start Samvat on positive note and remain in broader range with sectorial rotation. Investors would watch for India CPI inflation that would be release on Monday

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