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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 closed higher by 159 points (+0.6%) at 25,220, tracking positive global cues amid easing tariff concerns and optimism around international trade developments. This supportive global backdrop boosted investor sentiment domestically. Additionally, the Union Cabinet’s approval of the India–UK Free Trade Agreement (FTA), ahead of Prime Minister Modi’s scheduled UK visit on July 24, further boosted confidence. Broader indices mirrored the benchmark's trend — Nifty Midcap100 rose 0.3% while Nifty Smallcap100 ended flat. Most sectors ended in mix. Nifty Auto led the gains, closing 0.9% higher. Looking ahead, investors will track key global macroeconomic data due Thursday, including US initial jobless claims, the ECB’s interest rate decision, and US Composite and Services PMI. Domestically, focus will remain on corporate earnings, with key results lined up from SBI Life, REC, UTI AMC, Aditya Birla Sun Life AMC, and V-Mart. We expect stock-specific action to persist as earnings remain the key driver for near-term market direction.

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