Daily Market Commentary : Nifty traded in positive territory to close with marginal gains of 51 points at 23567 levels Says Mr. Siddhartha Khemka, Motilal Oswal
Below the Quote on Daily Market Commentary By Mr. Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd
Nifty traded in positive territory to close with marginal gains of 51 points at 23567 levels. Majority of the sector ended in green with buying seen in Realty, Metals, and Oil & Gas. Fertilizer stocks continued their ongoing momentum on the expectation that the government is likely to increase subsidies and may also reduce GST to boost rural growth. FIIs have been net buyers in Indian equities for the last three days and have bought ~12600crs which includes a few large block deals. On the domestic front, the market is consolidating with a positive bias amid strong FII flows and healthy macros. Also, an expectation of a growth-focused budget is aiding sentiments and is likely to lead to sector-specific action. On the global front, all eyes will be on the BOE rate decision.
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