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Below the Daily Market Commentary On 01 November 2023 by Mr. Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd

Domestic equities stumbled after India’s manufacturing activity fell at 8 month’s low to 55.5 in Oct. Nifty traded in negative territory to close near day’s low with loss of 90 points at 18989 levels. Sectorally it was mixed bag with buying seen in Pharma, Realty, Oil & Gas and PSU Banks. ended in red. Markets on Thursday would react to US Fed’s interest rate decision and economic data to be release during the day. The comments from Chair Jerome Powell will take the spotlight as it will provide insights into Fed’s next move. Also, investors would watch out for BOE’s interest rate decision to be announced on Thursday.

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