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Below the Daily Market Commentary On 26 December 2023 by Mr. Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd

Nifty opened positive and traded sideways to close with gains of 92 points at 21441 level. Majority of the sectors ended in green with buying seen in Oil & Gas, Metals, Pharma and Auto. Fresh buying was seen in chemical sector stocks. Volatility index, India VIX surged by ~7% to 14.65. Hopes of rate cuts in early 2024 and conflict in the Red Sea have led to rebound in crude oil prices. We expect markets to be in a range with positive bias and end the year on a positive note. While there is lack of significant triggers and in the absence of any major events due holiday season. Stock specific movement and series of new listing would keep the investors in action.

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