Daily Market Commentary : Nifty slid 0.6% to 24,274 on Indo-Pak tensions, volatile trade Says Mr. Siddhartha Khemka, Motilal Oswal Financial Services Ltd
Below the Quote on Daily market commentary by Mr. Siddhartha Khemka, Head - Research, Wealth Management, Motilal Oswal Financial Services Ltd
Indian equities ended lower on Thursday, with the Nifty declining 0.6% to close at 24,274 amid a volatile session triggered by rising tensions between India and Pakistan. The broader markets saw sharper cuts — the Nifty Smallcap 100 dropped 2% and the Nifty Midcap 100 fell 2.4%. Selling was broad-based across sectors. Nifty Realty led the decline, down 2.4%. However, select textile stocks continued to witness buying interest for a second straight day, buoyed by optimism surrounding the UK-India Free Trade Agreement (FTA). Volatility spiked, with India VIX rising 10.2% to a one-month high of 21.01, reflecting investor nervousness amid ongoing geopolitical developments. On the global front, Fed Chair Jerome Powell highlighted growing risks of both higher unemployment and persistent inflation & left interest rates unchanged at 4.25–4.5% adding to overall cautiousness. Meanwhile, US President Donald Trump’s scheduled announcement of a trade deal with a large country later today, provided some hopes of headway in the ongoing trade negotiations. Foreign Institutional Investors (FIIs) were net buyers for the fourth consecutive session, with a month-to-date inflow of Rs.9,648 crore — providing support amid regional uncertainties. Looking ahead, market volatility is expected to persist as investors track further developments on the India-Pakistan front and US trade announcements.
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