Daily Market Commentary : Nifty traded in negative territory for most of the session to close with a minor loss of 66 points at 23501 levels Says Mr. Siddhartha Khemka, Motilal Oswal
![](https://portfolio.investmentguruindia.com/uploads/news/Broker _26.jpg)
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Below the Quote on Daily market commentary by Mr. Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd
Nifty traded in negative territory for most of the session to close with a minor loss of 66 points at 23501 levels. Barring IT & Metals, all sectors ended in red. At the macro level, Manufacturing and services PMI rebounded in June after a blip seen in May, thus limiting the downside. The services PMI rose to 60.4, while the manufacturing PMI climbed to 58.5 led by expansion in business activity. Overall, the market is likely to remain steady and consolidate at higher levels in the near term. Budget-related sectors are likely to remain in action on the back of news flow and expectation growth focus policy. Sectors like Fertilizer, gaming, and Oil & Gas sectors would react to the outcome of the GST council meeting which is scheduled over the weekend. Globally, investors await US Manufacturing & Service PMI data along with US Existing Homes Sales
Above views are of the author and not of the website kindly read disclaimer
![](https://portfolio.investmentguruindia.com/uploads/news/nitingadkari37.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/jul03v68_wcHr0zT.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/IT Sector03.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Bharti Airtel Ltd.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Dollar21.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Stock bull.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Dixon technologies Ltd.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/BHARTI HEXACOM.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Gv_India.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Apollo Tyres Ltd.jpg)
Top News
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/01/4ccbb3339eb195f0a09084874fe02119.jpg)
Will markets rally pre-budget now
Tag News
![](https://portfolio.investmentguruindia.com/uploads/news/Stock bull.jpg)
Sensex touches 80,000 for first time, Nifty at all-time high
![Market Wrap Up by Shrikant Chouhan, Head Equity Research, Kotak Securities Ltd](https://portfolio.investmentguruindia.com/uploads/news/Shrikant Chouhan.jpg)
![Daily Market Analysis : Markets edged higher, gaining over half a percent, driven by favorable cues Says Mr. Ajit Mishra, Religare Broking Ltd](https://portfolio.investmentguruindia.com/uploads/news/Ajit Mishra.jpg)
![Quote on Kotak Mutual Funds for Sensex at 80000 by Nilesh Shah, Managing Director at Kotak Mahindra Asset Management Co. Ltd](https://portfolio.investmentguruindia.com/uploads/news/Nilesh Shah, Managing Director at Kotak Mahindra Asset Management Co. Ltd.jpg)