Daily Market Commentary : This Q3 earning season saw higher number of downgrades than upgrades Says Mr. Siddhartha Khemka, Head - Research, Wealth Management, Motilal Oswal Financial Services Ltd
Below the Quote on Daily Market Commentary by Mr. Siddhartha Khemka, Head - Research, Wealth Management, Motilal Oswal Financial Services Ltd
Nifty opened gap down but managed to recover the loss as buying interest emerged at lower levels. It ended 30 points higher at 22,960 level (+0.1%) after 8 consecutive sessions of fall. Broader market indices too closed in the green with Nifty Midcap100 up 0.4% and Smallcap100 up marginally. Amongst sectoral indices, Pharma and Healthcare were the top gainers, rising over 1% each. Also, investor interest was seen in the consumer durables, metals, oil & gas and PSU Banking space. The overall market sentiment remains cautious amidst persistent FII selling, US trade tariff concerns and weak quarterly earnings. This Q3 earning season saw higher number of downgrades than upgrades. Weakness in consumption coupled with a drag from commodities has put pressure on earnings even though BFSI, Healthcare, Capital Goods and Technology have posted a healthy print. The main factor leading to current market volatility is Trump’s announcement of reciprocal tariffs on US trading partners. With the highly anticipated meeting between Indian Prime Minister Narendra Modi and US President Donald Trump held on 13th Feb’25, new trade agreements are likely between the two nations. Clarity on these agreements/settlements could emerge over a course of time which would be a key factor for the domestic market.
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