Daily Market Commentary - Dec 29, 2020 - Bonanza Portfolio

Mr Vishal Wagh, Research Head

On Tuesday Indian equity benchmarks made an optimistic start tracking favorable global cues. Markets are trading at lifetime highs on account of buying in Bankex, IT and TECK counters. In the afternoon session, Indian equity benchmarks were trading in green terrain due to buying in Bankex, IT and TECK sectors both Sensex and Nifty were trading around 47,550 and 13,900 levels.

Asian equity benchmarks are trading mixed on Tuesday after US President Donald Trump signed the pandemic bill and as the Brexit trade deal raised hopes of an economic recovery.

Federation of Indian Chambers of Commerce and Industry (Ficci) in a joint survey has stated that India could benefit from the likely shift in global supply chains from China to other economies in the aftermath of the COVID-19 pandemic.

In Nifty 50 top gainers are Indusind Bank Ltd, Axis Bank Ltd, Tech Mahindra Ltd, Housing Development Finance Corporation Ltd and HCL Technology Ltd. The loser was NTPC Ltd, Coal India Ltd, Nestle India Ltd, Hindalco Industries Ltd and Tata Motors Ltd.

Source : Equity Bulls

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