Daily Market Commentary - March 4, 2021 - Bonanza Portfolio

Mr Vishal Wagh, Research Head

On Thursday Indian equity benchmarks halted three-day rally and made a gap-down opening on the back of subdued global cues. Markets are trading deep in red with cut of one and half a percent in early deals due to selling in almost all the sector indices, led by Metal, Bankex and Basic Materials, except Power. In the afternoon session, Indian equity benchmarks continued to show a sluggish trend. Both Sensex and Nifty are trading around 50,801 and 15,077 levels.

Most of the Asian equity benchmarks traded lower on Thursday, in line with the weak trend in Wall Street overnight amid concerns over inflation with the peaking government bond yields.

In Nifty 50 top gainers are UltraTech Cement Ltd, Adani Ports and Special Economic Zone, Shree Cement Ltd, Grasim Industries Ltd and Dr. Reddy's Laboratories Ltd. The losers are JSW Steel Ltd, Tata Motors Ltd, HDFC Bank Ltd, Bajaj Finserv Ltd.

Source : Equity Bulls

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