Daily Market Commentary : Nifty50 drops 120 pts (-0.5%) to close at 24,355 on Thursday Says Mr. Siddhartha Khemka, Motilal Oswal

Below the Quote on Daily market commentary by Mr. Siddhartha Khemka, Head - Research, Wealth Management, Motilal Oswal Financial Services Ltd
Indian equities ended lower on Thursday, with the Nifty50 declining 120 points (-0.5%) to close at 24,355. The broader markets also reflected weakness, as both the Nifty Midcap100 and Smallcap100 indices fell 0.3% each. Sectoral performance was mixed, with the Nifty IT index down 0.8% as IT stocks slipped ahead of Tata Consultancy Services’ (TCS) Q1FY26 results scheduled for later today. Investors are keenly awaiting management commentary to gauge the sector’s outlook. Shares of asset management companies were in focus following strong June AMFI data and ICICI Prudential AMC’s filing for a ?10,000 crore IPO valuing the company at ?1Lakh Cr market cap. On the global trade front, a delegation from India’s commerce ministry is expected to visit Washington next week for another round of talks with the US on tariffs and the proposed bilateral trade deal. Investors are also closely watching key global economic data, including US initial jobless claims due later today and UK GDP data scheduled for Friday. The market is likely to consolidate in the near term, tracking progress on India–US trade talks, while cues from the earnings season may drive sector- and stock-specific movements.
Above views are of the author and not of the website kindly read disclaimer

.jpg)







