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

Equity benchmark index Nifty opened higher, attempting a rebound post Friday’s sell off but gave up early gains to close flat at 22,119 level. Concerns over continued FII selling, the imposition of tariffs by U.S. on Canada, Mexico and China starting tomorrow, and ongoing geopolitical tensions between Russia and Ukraine continue to impact domestic market sentiments. The broader market traded mixed. While Nifty Midcap100 was marginally up, snapping 5 consecutive sessions of losses, Smallcap100 was down by 0.3%, extending loss for the 6^th consecutive day. On the sectoral front, Realty, Metals, Consumer Durables, IT were up between 0.8 -1.3% while oil & gas and banks were down 0.5-0.8%. Auto stocks were in focus with the release of February auto sales data. It indicated that demand across segments remains weak except for tractors where dispatches are expected to remain positive in the near term, driven by positive farm sentiment. India’s GDP grew 6.2% in 3QFY25, higher than 5.6% in 2QFY25 and 9.5% in 3QFY24. The number was in line with the market consensus of 6.2%. Both private and government consumption witnessed an improvement during the quarter. India’s manufacturing PMI eased to a 14-month low of 56.3 in February from 57.7 in the previous month due to loss of momentum in new orders and production, dampening investor sentiments. We expect market to remain flat to negative on account of mixed global cues and lack of domestic triggers.

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