Daily Market Commentary - March 30, 2021 - Bonanza Portfolio

Mr Vishal Wagh, Research Head

On Tuesday Indian equity benchmarks made an optimistic start, after coming back from a long weekend holiday, tracking gains in Asian peers. Markets are trading firm with gains of over a per cent each in early deals on account of buying in almost all the sectors except Realty. In the afternoon session, Indian equity benchmarks continued to trade in fine contour on continued buying by funds and retail investors. Both Sensex and Nifty are trading around 50,115 and 14,833 levels.

Asian markets were trading mostly in green as investors remained focused on the global vaccination program and shook off worries about a hedge fund default that hit international banking stocks overnight.

The Apparel Export Promotion Council (AEPC) Chairman A Sakthivel has urged the government to impose restrictions on exports of cotton yarn to curb prices and increase supply for domestic manufacturers.

In Nifty 50 top gainers are UPL Ltd, JSW Steel Ltd, Infosys Ltd, Tata Steel Ltd and Power Grid Corporation of India Ltd. The losers are Bharti Airtel Ltd, Mahindra & Mahindra and SBI Life Insurance Company Ltd.

Source : Equity Bulls

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