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

The Nifty50 surged over 1% during today's session, hitting a high of 24,589 — its highest level in CY25. However, profit booking set in, causing the index to pare gains and close marginally higher at 24,347 (+0.1%). Optimism prevails in market sentiments over potential India-U.S. trade deal, sustained foreign fund inflows and record high GST collection in April. FII buying continued for eleventh day in a row, taking the cumulative inflow for this period to Rs.37,375 crore. This makes the FIIs net buyers of over Rs 2,700 crore in April, marking the highest buying activity in the past six months. The foreign fund flows along with hopes of US-India trade deal helped the Indian rupee(INR) to gain past 84 mark, its highest level in seven months. Further, GST collections hit an all-time high to reach INR2.4t in Apr’25, growing 12.6% YoY vs. 9.9% YoY in Mar’25. Broader market indices ended mixed with Nifty Midcap100 down 0.8%, while Smallcap100 was up marginally. Amongst sectors, oil and gas index was the top gainer, up 0.7% on the back of falling Brent crude prices. IT and PSU Bank indices closed in the green with gains of 0.2-0.3% each. All other sectoral indices were flat to negative. The monthly auto sales data suggested that while overall demand remained weak in Apr’25, select players like M&M, TVS and Eicher Motors continued to outperform their respective segments. Overall, we expect the market to consolidate in a broad range with a positive bias. Stock-specific action is likely to dominate the market, although some volatility may be expected due to geopolitical tensions. Key results tomorrow include SBI, Kotak Mahindra, Avenue Supermarts, CDSL, while M&M, Indian Hotels, Coforge, CAMS amongst others will be announcing results on Monday.

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