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

Nifty after opening positive witnessed selling pressure in the second half of the day and closed with the loss of 152 points at 21996 levels.  Barring IT, Metals & PSU Banks, all sectors ended in red including mid-cap and small-cap. Market saw some relief at the start of the session on the back of a healthy outlook by the IMF on the Indian Economy. However, it failed to sustain at higher levels amid volatility and declined for the fourth consecutive day. Strong selling by FIIs of Rs. 15763 crore in the last three days due to the uncertain global environment also dampened the sentiments. Overall we expect volatility to continue in the market in the absence of any major positive trigger, while focus will continue on stock-specific action amid earning season. Infosys and Bajaj Auto will be in the limelight as both will announce their result late today. On the global front investors will watch out for US Existing home sales data.

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