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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 equities remained range bound today after witnessing a strong rally yesterday, ending the day with a decline of 0.17%. Nifty mid-cap 100 remained flat and Nifty small-cap100 gained by 1.8%, outperforming the Nifty 50. Defence stocks continued to witness strong gains with Nifty India Defence gaining more than 5%, amid media outlining India's defence budget may receive an additional allocation of INR 50,000 crore under a supplementary budget. The boost will take overall defence allocation past Rs 7 lakh crore for the financial year 2025–26. FII have been net buyers worth nearly Rs14500cr from the beginning of May till date, while DII bought stock worth Rs18000cr during the same period. Railway stocks witnessed strong buying interest with several counters rallying up to 11 per cent. On the earnings front, quarterly results from Amber Enterprise, Data Patterns, Divi’s Labs, Premier Energies, Zen technologies and others are expected to drive stock-specific action. The broader consolidation with a positive bias is likely to persist for the Indian markets, supported by easing geopolitical tensions, progress on trade agreements, and improving signs of macroeconomic stability.

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