Daily Market Commentary : Nifty recovered from lower levels after and closed flat at 22514 levels Says Mr. Siddhartha Khemka, Motilal Oswal Financial Services Ltd.
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Below the Daily market commentary by Mr. Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd
Nifty recovered from lower levels after and closed flat at 22514 levels after the RBI kept the repo rates unchanged at 6.5% for the seventh consecutive time. Majority of the sectors ended in green with buying was seen in Realty, Banking & Financials. RBI in its bimonthly meeting has maintained a ‘withdrawal of accommodation’ stance in line with market expectations. The committee has maintained the GDP rate at 7% for FY25 while projected a retail inflation of 4.5%. Next week, the focus will shift to Q4 earnings season as TCS will announce its results on 12th April. Also, markets will take cues from global events like India & US inflation data, US Fed meeting minutes, and ECB policy meetings. Markets on Monday would react to US Non-farm payroll data and unemployment rate. Overall we expect the market to consolidate in a broader range with stock-specific action.
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