Daily Market Commentary : Nifty swung between gains and losses to finally close the volatile day flat at 22336 levels Says Mr. Siddhartha Khemka, Motilal Oswal
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 to finally close the volatile day flat at 22336 levels. Selling pressure was seen in the broader market with the Nifty midcap 100 down 2.1% while the Nifty smallcap 100 shredded 5% in the last five days. Advance Decline ratio continued to remain weak with only 324 gainers against 1929 losers at NSE. Majority of the sectors ended in red as profit booking was seen in Realty and PSU Bank. Market remained volatile as the US & India inflation data (due for release late today) took center stage. Pain is likely to continue in the broader market amid stretched valuation and red flags from SEBI. Also, the mandatory disclosure format for mutual funds shared by SEBI to look at the stress situation in the funds, will be out by March 15. This is also adding to the ongoing concerns. Thus, volatility in midcap and smallcap could keep the benchmark indices in check
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