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

Nifty remained in positive momentum throughout the session to close near the day’s high with gains of 92 points at 22735. Barring, Pharma & Auto all sectors ended in the green. Oil & Gas, PSU Banks, FMCG, and Metals were top gainers up more than 1% each. Nifty Bank touched a record high at 49057 level, supported by a rally in PSU banks. Indian Markets will remain closed on Thursday on account of Ramzan. It would take cues from its global peers as the US will release inflation data late today along with Fed meeting minutes. Also, the ECB interest rate decision will be announced on Thursday. Overall we expect the ongoing up-move to continue in the market with Nifty 265 points away from crossing the 23k mark. Broader market too is likely to continue its outperformance along with stock-specific action on the back of strong domestic flows and healthy business updates. The technology sector is expected to be in focus as TCS will announce its Q4FY24 results on Friday.

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