Quote on Daily Market Commentary for May 13th 2026 by By Siddhartha Khemka, Motilal Oswal Financial Services Ltd
Below the Quote on Daily Market Commentary for May 13th 2026 by By Siddhartha Khemka - Head of Research, Wealth Management, Motilal Oswal Financial Services Ltd
Indian equities are expected to trade in a broader range in the near term, as elevated Brent crude prices and a weakening rupee continue to create a fragile environment for domestic markets and remain among the key concerns for investors. Sustained FII outflows are likely to cap directional upside, even as the final leg of the Q4FY26 earnings season and selective policy tailwinds provide stock- and sector-specific support. Defence stocks are expected to remain in focus, with the Nifty Defence Index surging 2.1%, driven by a convergence of strong Q4FY26 earnings, an acceleration in domestic order inflows, and investor positioning ahead of PM Modi's five-nation visit to the UAE, Netherlands, Sweden, Norway, and Italy from May 15–20, which is being closely tracked for potential bilateral defence cooperation announcements and energy security agreements. Metal stocks are also witnessing strong momentum, with the Nifty Metal Index rallying ~3.2%. The upmove was driven by a sharp surge in global base metal prices, particularly copper, which hit a record high above $14,000 per tonne on LME. Zinc and aluminium prices also moved higher, lifting stocks such as Hindustan Zinc, which gained nearly 5%. Additionally, gold and silver prices rallied sharply after the government raised import duties on precious metals to 15% from 6%, further supporting metal counters.
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