Daily Market Commentary - April 20, 2021 - Bonanza Portfolio

Mr Vishal Wagh, Research Head

On Tuesday Indian equity benchmarks have made a positive start and are trading jubilantly in early deals. Sentiments were upbeat with reports that the government announced a liberalised and accelerated Covid-19 vaccination program beginning May 1, where all above 18 years of age will be eligible to be vaccinated. In the afternoon session, Indian equity benchmarks pared all of their initial gains and entered into red terrain. Both Sensex and Nifty are trading around 47,730 and 14,291 levels.

Most of the Asian equity benchmarks traded lower in early deals on Tuesday, as the market sentiments got dulled pressurized by the peaking covid cases around the globe dimming prospects for a swift economic rebound from the effects of pandemics and on profit-taking after previous day gains.

The Reserve Bank of India (RBI) has set up a committee to undertake a comprehensive review of the working of asset reconstruction companies (ARCs) in the financial sector ecosystem and recommend suitable measures for enabling them to meet the growing requirements.

In Nifty 50 top gainers Dr. Reddy's Laboratories Ltd, Bajaj Finserv Ltd, Bajaj Finance Ltd, HDFC Life Insurance Company Ltd and Bajaj Auto Ltd. The losers are Ultratech Cement Ltd, HCL Technologies Ltd, Housing Development Finance Corporation Ltd, Shree Cement Ltd and Grasim Industries Ltd.

Source : Equity Bulls

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