Daily Market Commentary - Dec 11, 2020 - Bonanza Portfolio

Mr. Vishal Wagh, Research Head

On Friday Indian equity benchmarks made a positive start amid robust foreign fund inflows. Markets are trading higher with notable gains of over half a percent on account of buying in Oil & Gas, PSU and Metal stocks. In the afternoon session, Indian equity benchmarks erased all gains to turn negative both Sensex and Nifty were trading around 46,000 and 13,500 levels.

Most of the Asian equity benchmarks are trading higher on Friday, though retreated in the opening with the weak cues from Wall Street. The market sentiments got buoyed after the FDA panel nod to emergency use approval for Pfizer BioNTech Covid vaccine.

The Society of Indian Automobile Manufacturers (SIAM) in its latest report has shown that passenger vehicle wholesales in India increased in November as compared with the same month last year, on the back of festive demand.

In Nifty 50 top gainers are Oil & Natural Gas Corporation Limited, GAIL (India) Limited, NTPC Limited, Coal India Limited and Tata Steel Limited. The loser was Axis Bank Limited, Divi's Laboratories Limited, Mahindra & Mahindra Limited, Adani Ports and Special Economic Zone Limited and Eicher Motors Limited.

Source : Equity Bulls

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