Quote on Daily Market Commentary for September 23rd 2026 by Siddhartha Khemka - Head of Research, Wealth Management, Motilal Oswal Financial Services Ltd
Below the Quote on Daily Market Commentary for September 23rd 2026 by Siddhartha Khemka - Head of Research, Wealth Management, Motilal Oswal Financial Services Ltd
Indian equities are likely to continue their gradual upmove in the near term as positive developments around a potential resolution of the war front improve sentiment. Developments in West Asia, movements in Brent crude, foreign flows and global cues will remain key near-term drivers. On Wednesday, the Nifty 50 rose 0.5%, while Midcap100 and Smallcap100 gained 0.7% and 0.9%, respectively, supported by broad-based buying. Nifty Metal was the top-performing sector, rising 2.4%, supported by elevated global commodity prices, including copper hitting fresh highs. Nifty FMCG gained 1.3%, aided by positive market sentiment and lower crude prices. The Directorate General of Trade Remedies has recommended a five-year continuation of anti-dumping duties on certain flat-rolled aluminium products from China, which could limit low-priced imports and support domestic pricing. The government is also set to launch an incentive scheme for processing critical minerals such as lithium and nickel, aimed at strengthening domestic processing capabilities and reducing import dependence. Brent crude fell around 1% to approximately USD 98/bbl, declining for the sixth consecutive session, as Saudi Arabia began restoring crude supply through a critical pipeline to the Red Sea and hopes of a diplomatic solution to the US-Iran conflict increased following talks at the UN in New York. Key economic data to watch include the US S&P Composite PMI later today, followed by Japan S&P Services PMI and US jobless claims tomorrow.
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