Daily Market Commentary - March 26, 2021 - Bonanza Portfolio

Mr Vishal Wagh, Research Head

On Friday Indian equity benchmarks made an optimistic start with firm cues from global markets and falling oil prices. Markets are trading in fine-fettle with gains in early deals, on account of buying in all the sector indices led by Realty, Consumer Durables and Auto. In the afternoon session, Indian equity benchmarks continued to trade in high spirit on the back of favourable global cues. Both Sensex and Nifty are trading around 49,032 and 14,515 levels.

Most of the Asian equity benchmarks traded higher in early deals on Friday, cheered with the positive trend in Wall Street overnight followed by the release of upbeat labour data. Even though, some of the gains remained capped with the concerns over rising covid cases and extended lockdowns imposed in Europe.

Telecom Regulatory Authority of India (TRAI) secretary S.K Gupta has said that India is poised to play a decisive role in the new era of 5G, given inherent strengths in digital and software capabilities.

In Nifty 50 top gainers are Tata Steel Ltd, Bajaj Finserv Ltd, Hindalco Industries Ltd, Tata Motors Ltd and Asian Paints Ltd. The losers are UPL Ltd, Power Grid Corporation of India Ltd, Indusind Bank Ltd, ITC Ltd and HCL Technologies.

Source : Equity Bulls

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