14-09-2023 06:22 PM | Source: Motilal Oswal Financial Services Ltd
Daily Market Commentary : Nifty scaled to new highs in today`s session to close with gains of 33 points at 20103 levels Says Mr. Siddhartha Khemka, Motilal Oswal
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Daily market commentary 27 December 2022 by Mr. Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.
Nifty scaled to new highs in today’s session to close with gains of 33 points at 20103 levels after India’s WPI inflation stayed negative for the 5th month at 0.52% in August. Broader market outperformed with Nifty Midcap 100 and Smallcap 100 up 1%. Majority of the sectors ended in green with buying seen in PSU Bank, Realty, Auto, and Metals. Overall, we expect the market to maintain its positive trend on the back of strong domestic macroeconomic data. However, bouts of volatility cannot be ruled out given mixed global cues. Tomorrow markets would track US PPI and retail sales data which would be important for the US Fed rate decision next week.
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