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

Nifty traded sideways with a positive bias to close with gains of 32 points at 24573 levels. Sector-wise it was a mixed bag with buying seen in Metals, Oil & Gas, and IT. Metal stocks witnessed renewed buying amid improved global demand. Niche sectors like sugar were also in focus ahead of upcoming festive demand and media reports of the government considering a proposal to increase ethanol prices in FY24. With Q1FY25 earnings now behind, domestic equities would take cues from global factors for direction. We expect Nifty to consolidate at higher levels with sectorial rotation. This week's focus will be FOMC meeting minutes and Fed Chair Powell's speech at the Jackson Hole Economic Symposium for indications of future interest rate policy

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