Daily Market Commentary : Nifty Rebounds, Closes Up 323 Points (+1.3%) at 24315 After Three-Day Decline 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
After three days of decline, Nifty witnessed a good recovery and traded in positive territory throughout the session to close with gains of 323 points (+1.3%) at 24315 levels. Broader market outperformed - up more than 2%. All sectors ended in green with Oil & Gas, Pharma, and Metals being top gainers. Global factors & headwinds are likely to persist which could continue to impact Indian markets over the next few days. Nifty saw a relief rally today, but volatility cannot be ruled out. All eyes will be on RBI policy outcome on Thursday where the committee is expected to maintain the interest rate. Hence, interest-sensitive sectors and stocks would be in focus.
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