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

Nifty traded firmly for the most part of the day and closed with gains of 62 points at 22466 levels. Broader market outperformed with the Nifty midcap up 0.9% and the Nifty smallcap up 1.6%. Rally was seen in railway and defense stocks on the back of healthy order book and Q4 numbers. Also robust outlook post-election supported the buying interest. Markets on Monday will remain closed on the back of the Election Day. Nifty held on to its momentum and spurt more than 1% in the last two days led by short-covering and positive global cues.  Markets on Tuesday would react to voter turnout in Phase 5 and economic events like Europe inflation data and China Loan Prime rate due over the weekend.

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