IGI Logo

Below the Quote on Daily market commentary by Mr. Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd

Nifty swung between gains and losses amid the monthly FNO expiry. The index finally closed with gains of 32 points at 21983 levels. Broader market witnessed the brunt of SEBI’s cautious stance on the Midcap and Smallcap fund. Both the indices were down for the second consecutive day. Sector-wise it was a mixed bag with buying seen in Banking, Financials, and Metals. Recent global economic data releases pushed investors back after a rally that was seen recently. Further, the US Fed’s preferred inflation gauge, personal consumption expenditures (PCE), due today holds key importance from an interest rate perspective. Markets will also react to India’s Q3 GDP data to be released late today. The auto sector is expected to be in focus as monthly Sales numbers will be published over the Weekend.

Above views are of the author and not of the website kindly read disclaimer