Daily Market Commentary : Nifty Smallcap 100 up +0.4%. Barring FMCG Says Mr. Siddhartha Khemka, Motilal Oswal
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Below the Quote on Daily market commentary by Mr. Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd
Nifty traded in negative territory throughout the session after seeing recovery in the previous session. The index closed with a loss of 123 points (-0.6%) at 22023 levels. Broader market ended on a mixed note with Nifty Midcap 100 down -0.5% while Nifty Smallcap 100 up +0.4%. Barring FMCG & Metals All sectors ended in red. Oil & Gas witnessed major selling down 2% after OMCs cut petrol and diesel retail prices by ?2 per litre. Next week will be important from an economic perspective as major central banks globally including Japan, the US, and the UK will announce interest rate decisions. US Fed policy outcome and commentary will be important as mixed set macro data has kept investors anxious over rate cut timeline. Thus, we expect the market to remain volatile in the near term with a focus on large caps and defensive names.
Above views are of the author and not of the website kindly read disclaimer
