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Daily Market Commentary : The index closed with a loss of 247 points (-1%) at 21951 levels Says Mr. Siddhartha Khemka, Motilal Oswal
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Below the Quote on Daily market commentary by Mr. Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd
After a positive opening, Nifty soon entered into negative territory dragged by profit booking in index heavyweights. The index closed with a loss of 247 points (-1%) at 21951 levels. Broader market saw a sharp selloff down 2%. All sectors ended in red with selling seen in Oil & Gas, PSU Bank, Realty, and Auto down 2% each. Volatility index India Vix surged 4% above the 16 level. Markets turned cautious ahead of the release of India’s Q3 GDP data on Thursday and the FNO monthly expiry. Further, US Q4 GDP preliminary reading and core PCE data would keep investors busy. We expect the market to remain volatile amid key events.
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