Daily Market Commentary - April 8, 2021 - Bonanza Portfolio
(Time Zone: Arizona, USA)
Mr Vishal Wagh, Research Head
On Thursday Indian equity benchmarks continued to trade firm in the morning session on sustained buying activities by funds and retail investors amidst positive global cues. Markets are trading higher with gains of around half a percent each in early deals on the back of buying in Consumer Durables, Metal, IT and TECK sector stocks, too supported the market. In the afternoon session, Indian equity benchmarks were trading in fine fettle with Sensex and Nifty crossing 49,751 and 14,875 levels.
Most of the Asian equity benchmarks traded higher in early deals on Thursday, cheered up with the upbeat unexpectedly better economic data from the US and China spurred expectations about swift global economic recovery.
The International Monetary Fund (IMF) has said India's debt-to-GDP ratio increased from 74 percent to 90 percent during the COVID-19 pandemic, noting that it expects this to drop down to 80 percent as a result of the country's economic recovery.
In Nifty 50 top gainers are JSW Steel Ltd, Tata Steel Ltd, Shree Cement Ltd, Titan Company Ltd and, Hindalco Industries Ltd. The losers are SBI Life Insurance Company Ltd, Sun Pharmaceutical Industries Ltd, Bajaj Finance Ltd, Indusind Bank Ltd and Axis Bank Ltd.