Daily Market Commentary - Dec 10, 2020 - Bonanza Portfolio

Mr Vishal Wagh, Research Head

On Thursday Indian equity markets made a negative start and are trading lower with the cut of over half percent on sell-off in the global peers. In the afternoon session, the Indian equity benchmarks continued to show a sluggish trend with Sensex and Nifty trading around 45,950 and 13,450 levels.

Asian equity benchmarks are trading mixed on Thursday, in line with the negative cues from Wall Street following a hefty sell-off in tech stocks. Slowing progress of US stimulus talks and a stalemate in Brexit negotiations. While optimism over covid vaccine limited losses in the market.

Department of Telecom (DoT) Member (Services) Bharat Kumar Jog has said that there is a need to expedite the implementation of the new telecom policy approved by the Cabinet in 2018 and lower the reserve price for 5G spectrum.

In Nifty 50 top gainers are Nestle India Ltd, ITC Ltd, Britannia Industries Ltd, Hindustan Unilever Ltd and Kotak Mahindra Bank Ltd. The loser was UPL Ltd, UltraTech Cement Ltd, Shree Cement Ltd, Tata Motors Ltd and Mahindra & Mahindra Ltd.

Source : Equity Bulls

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