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

Indian equity benchmarks bounced back on Friday, with the Nifty50 up 243 points (+1%) to close at 24,853, recovering from the previous session’s decline. Positive global cues and encouraging domestic data boosted investor sentiments. The broader markets also remained firm, with the Nifty Midcap100 and Smallcap100 indices gaining 0.6% and 0.8%, respectively. On the macro front, India’s services sector showed resilience, with the Services PMI rising slightly to 58.7 in Apr’25. Additionally, the HSBC India Composite PMI jumped to 61.2 in May’25 - its highest reading since April 2024 - indicating strong expansion across both manufacturing and services, and beating expectations. Sentiment was further supported by strong domestic cues. The ongoing earnings season is entering its final phase next week, with investors closely tracking corporate performance across sectors. Meanwhile, the arrival of pre-monsoon showers across parts of India lifted market mood ahead of an anticipated above-normal monsoon, which is expected to support rural demand and broader economic activity. Looking ahead, markets are expected to remain firm, with participation likely from the broader market segments as macro and earnings tailwinds continue to provide support. Investors will also be closely watching key data releases next week, including quarterly GDP figures for both India and the US.

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