Daily Market Commentary : Nifty steadily inched upwards to make a fresh high of 23754 levels Says Mr. Siddhartha Khemka, Motilal Oswal
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Below the Quote on Daily Market Commentary by Mr. Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd
Nifty steadily inched upwards to make a fresh high of 23754 levels. The index closed with handsome gains of 183 points at 23721 levels. Sector-wise it was a mixed bag with buying seen in Banking, Financials, and IT. Sensex crossed 78k for the first time mainly driven by banking stocks. The current account deficit reduced to 0.7% of GDP in FY24 from 2% in FY23 and recorded a surplus of 0.6% of the GDP in Q4 due to higher service exports. Even in the upcoming budget, the focus will remain on fiscal consolidation along with growth-oriented measures aimed at addressing rural stress. Hence, we expect the market to maintain its positive momentum as we draw nearer to the event. Globally, investors would track US Consumer confidence data which is scheduled late today.
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