Daily Market Commentary : The government has set an ambitious target of Rs.50,000 crore in defence exports by 2029 Says Mr. Siddhartha Khemka, Motilal Oswal
Below the Quote on Daily market commentary by Mr. Siddhartha Khemka, Head - Research, Wealth Management, Motilal Oswal Financial Services Ltd
Equity markets extended gains on Thursday, with the Nifty50 closing at 25,549, up 304pts (+1.2%) —marking a fresh 2025 high of 25,565 during the session. Broader indices also edged higher—Nifty Midcap100 rose 0.6% and Smallcap100 gained 0.4%—as investor confidence held firm due to positive cues from both global and domestic front. On the global front, the dollar index slipped below the 97-mark for the first time since March 2022, hitting a three-year low. This boosted commodity-linked sectors, with Nifty Metal rallying 2.3% and Oil & Gas gaining 1.8% as Brent crude dropped to $66/bbl. On the domestic front, a strong start to the monsoon supported sentiments, with cumulative rainfall now 4% above the long-period average, which bodes well for agri, rural and consumer related sector. Defence- stocks are likely to be in focus, as India’s strengthening manufacturing ties with Europe, backed by NATO’s rising defence spend, present a significant export opportunity. The government has set an ambitious target of ?50,000 crore in defence exports by 2029. Overall, we expect the market momentum to continue with Nifty likely to move upwards towards its previous life highs driven by healthy domestic macros and supportive global environment. We maintain a positive outlook on domestic-driven sectors such as financials, capital markets, agriculture-linked segments (including agri inputs, tractors, and rural consumption), and defence, which are well-positioned to benefit from ongoing policy support and seasonal tailwinds.
Above views are of the author and not of the website kindly read disclaimer
