Daily Market Commentary - Dec 23, 2020 - Bonanza Portfolio

Mr Vishal Wagh, Research Head

On Wednesday Indian equity benchmarks made a cautious start amid concerns about a new faster-spreading variant of the coronavirus. Markets are trading higher with marginal gains in early deals on the back of buying in Realty, IT and TECK stocks. In the afternoon session, Indian equity benchmarks were trading in fine fettle with Sensex and Nifty crossing 46,350 and 13,500 levels due to buying in realty, IT and technology stocks.

Most of the Asian equity benchmarks are trading higher on Wednesday, with the short covering after steep correction, and optimism that a new $900 billion relief package will help boost the US economy lifted the investor sentiments.

Finance Minister Nirmala Sitharaman has said that the government is planning to extend the suspension of the Insolvency and Bankruptcy Code (IBC) till March 31, 2021 to help businesses cope with major stress posed by the Covid-19 pandemic.

In Nifty 50 top gainers are Wipro Ltd, Cipla Ltd, Infosys Ltd, Tata Motors Ltd and Tata Steel Ltd. The loser was Divi's laboratories Ltd, Titan Company Ltd, NTPC Ltd, Housing Development Finance Corporation Ltd and Gail (India) Ltd.

Source : Equity Bulls

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