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Below the Quote on Daily Market Commentary by Mr. Siddhartha Khemka, Head - Research, Wealth Management, Motilal Oswal Financial Services Ltd.

Nifty traded in a range-bound manner between 23,150- 23,300 levels, closing 37 points higher (+0.2%) at 23,213. Broader market outperformed with Nifty Midcap100 and Smallcap 100 indices gaining 0.4% and 0.6% respectively. Power stocks surged on account of data from the Ministry of New and Renewable Energy, which revealed that India’s renewable energy capacity more than doubled in 2024, increasing by 113% YOY to 30 GW, up from 13.75 GW in 2023. Indian Rupee gained for the second consecutive session on weak US Dollar and soft US 10 year treasury yields. A pullback in the domestic equities yesterday and overnight decline in crude oil prices also favoured the Rupee. However, FII outflows to the tune of Rs8,132 crore on Tuesday, capped sharp gains. The US CPI to be released today and US retail sales data to be released tomorrow along with the ongoing Q3 earnings announcements will be the key triggers for the market in the near term.

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