Daily Market Commentary : Nifty50 ended with a loss of 141 points at 24,972 (-0.6%) 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
Markets made a partial recovery from the sharp morning losses amid escalation in geopolitical tensions, following U.S. airstrikes on Iranian nuclear facilities over the weekend. Nifty50 ended with a loss of 141 points at 24,972 (-0.6%). Market participants remained cautious amid spike in crude oil prices due to concerns over potential supply disruptions from the Strait of Hormuz. However, selective buying by investors supported broader market outperformance with Nifty Midcap100 and Nifty Smallcap100 gaining 0.4% and 0.8% respectively. The defence sector saw strong traction, particularly in shipbuilding stocks, pushing the Nifty India Defence index up 2.3%. Shares of small finance banks (SFBs) rallied after RBI eased the lending norms by reducing the mandatory priority sector lending requirement from 75% to 60% of total loans. In contrast, Nifty IT declined over 1%, weighed by concerns over sustained softness in global tech spending—especially after Accenture revealed its third straight YoY drop in outsourcing contracts. Crude-sensitive stocks would continue to remain in focus amid surge in Brent crude prices which rose nearly 2% to hit a five-month high level on Monday, as Iran Parliament reportedly approved the closure of the Strait of Hormuz. Overall, Indian Equities are expected to remain in consolidation mode, with investors closely tracking development on the global geopolitical front. While we anticipate momentum to continue in defence and upstream oil companies, banking and financial stocks are likely to be in favour on account of RBI policy support and liquidity boosting measures.
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Nifty has an immediate Support at 25100 and on a decisive close below expect a fall to 25000...


