Daily market commentary : Nifty traded cautiously amid monthly FNO expiry and key economic data lined up says Mr. Siddhartha Khemka, Motilal Oswal Financial Services Ltd
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Below the Daily Market Commentary On 30 November 2023 by Mr. Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd
Nifty traded cautiously amid monthly FNO expiry and key economic data lined up. However, last hour buying helped index to recover and close with gains of 37 points at 20133 levels. Sector wise it was mixed with buying seen in Pharma, Realty and Consumer Durables. Defence stocks were in action today as Defence Acquision Council (DAC) approved purchase of 97 Tejas aircrafts and 156 Prachanda Helicopters according to the media reports. Bumper listing was seen in Tata Technologies and Gandhar Oil IPO, while Fedbank Financials saw a subdued listing. Tatatech and Gandhar both listed at premium of 1.4x and 76% respectively. Markets on Friday will react to Exit poll outcome and India’s GDP data. Overall we expect positive trend to continue in the market. Auto stocks will be in focus as OEMs will announce their monthly sales data on Friday.
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