Daily Market Commentary - April 26, 2021 - Bonanza Portfolio

Mr Vishal Wagh, Research Head

On Monday Indian equity benchmarks made an optimistic start tracking firm global cues. Markets extended their opening gains and are trading firm with gains of over a percent each on account of board based buying in Bankex, Energy and Realty stocks. In the afternoon session, Indian equity benchmarks were trading in fine fettle due to heavy buying in banking, metal and realty stocks. Both Sensex and Nifty are trading around 48,384 and 14,479 levels.

Most of the Asian markets were trading higher following broadly positive cues from Wall Street. The markets remain tense and cautious amid the surge in coronavirus cases in the region, particularly in Japan and India, as well as the possible related lockdowns in economic activity in several markets.

The Engineering Export Promotion Council (EEPC) has said that imposition of restrictions by states to contain rising coronavirus cases could affect the exports and the worst impacted would be micro, small and medium enterprises.

In Nifty 50 top gainers Axis Bank Ltd, ICICI Bank Ltd, Ultratech Cement Ltd, JSW Steel Ltd and SBI Life Insurance Company Ltd. The losers are Cipla Ltd, HCL Technologies Ltd, Britannia Industries Ltd, Bharat Petroleum Corporation Ltd and HDFC Bank Ltd.

Source : Equity Bulls

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