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Below the Quote on by Daily Market Commentary by Mr. Siddhartha Khemka, Head - Research, Wealth Management, Motilal Oswal Financial Services Ltd

Nifty remained lacklustre ahead of Christmas holiday, closing with marginal loss of 0.1% at 23,730. Broader markets were mixed with midcap index flat and smallcap index up 0.3%. The Indian rupee hit fresh all-time low of 85.20, weighed by a stronger dollar. FIIs have been net sellers since the past 6 consecutive trading sessions, offloading equities close to 16,000 crore. The segmental volume data for November 2024 in the passenger vehicle segment indicates that, although November was expected to be a weak month due to a high base last year, the PV industry still posted a 4% YoY growth in dispatches. On a YTD basis, while the 2W ICE segment has grown 11% YoY, the PV industry has posted just 1% YoY growth. In the aviation sector, average domestic Passenger Load Factor (PLF) increased 510bp MoM in Nov’24. PLF rose for all the airlines MoM. Liquor companies are expected to deliver strong volume-led revenue growth in the premium segment, driven by demand in the wedding and festive season. We expect markets to remain range-bound in the near term due to lack of triggers and year-end holidays.

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