Daily Market Commentary - Feb 25, 2021 - Bonanza Portfolio
(Time Zone: Arizona, USA)
Mr Vishal Wagh, Research Head
On Thursday Indian equity benchmarks made a gap-up opening on strong global cues amid optimism over economic recovery and the government's mass privatisation plans. Markets are trading in high spirit with gains of around a percent in early deals on the back of buying in all the sector indices, except FMCG, led by Metal, Bankex and Oil & Gas. In the afternoon session, Indian equity benchmarks have pared some of their gains but are still trading in positive terrain. Both Sensex and Nifty were trading around 51,041 and 15,094 levels.
Asian equity benchmarks traded in green in early deals on Thursday, cheered up with the steep rebound in Wall Street stocks as investors are focusing on optimism over world back to normalcy with the stimulus-driven global economic recovery and faster vaccine supplies.
On a review of current liquidity and financial conditions, the Reserve Bank of India (RBI) has decided to conduct simultaneous purchase and sale of Government securities under Open Market Operations (OMO) for an aggregate amount of Rs 15,000 crore each on March 4, 2021.
In Nifty 50 top gainers are Coal India Ltd, UPL Ltd, Adani Ports and Special Economic Zone, Oil & Natural Gas Corporation Ltd and Bharat Petroleum Corporation Ltd. The loser are ICICI Bank Ltd, Nestle India Ltd, Titan Company Ltd, Divi's Laboratories Ltd and Larsen & Toubro Ltd.