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Below the Daily Market Commentary On 04 January 2024 by Mr. Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd

After two days of decline, Nifty regained strength and closed with gains of 141 points (+0.7%) at 21659 levels. Broader market outperformed with the Nifty midcap 100 and Nifty Smallcap 100 up 1%. All sectors ended in green with Realty, PSU Bank, and Financials being top gainers. Real Estate saw a sharp rally of 6% on the back of strong launch pipeline. Niche sectors like Defence, Power Finance, and Hotels were too in the limelight. Impressive quarterly business updates from financial heavyweights lifted domestic equities today, despite weak global cues. Overall Market showed strong resilience today, which is likely to strengthen further as we head into the result season and more companies announce their business updates

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