Daily Market Commentary : Nifty traded in a narrow range with a negative bias to close flat at 22435 levels Says Mr. Siddhartha Khemka, Motilal Oswal
Below the Daily market commentary by Mr. Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd
Nifty traded in a narrow range with a negative bias to close flat at 22435 levels. Broader market outperformed with the Nifty midcap 100 up 0.4% and the Nifty Smallcap 100 up 1%. Sector-wise it was a mixed bag with PSU Bank being the top gainer. Markets are trading with caution ahead of the RBI policy meeting and key macro data to be released in the US and Europe. Also, US Fed Chair Powell's speech will be keenly watched. We expect the market to consolidate over the next few days until the events unfold.
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