Daily Market Commentary - April 28, 2021 - Bonanza Portfolio

Mr Vishal Wagh, Research Head

On Wednesday Indian equity benchmarks made an optimistic start despite muted cues from Asian peers. Markets added gains and are trading firm in early deals. Board based buying in Auto, Consumer discretionary and Telecom stocks supported the markets. In the afternoon session, Indian equity benchmarks were trading in fine fettle as optimism grew over the nation's accelerated vaccination programme to control the world's largest surge in coronavirus infections. Both Sensex and Nifty are trading around 49,751 and 14,872 levels.

The Asian equity benchmarks were trading mixed in early deals on Wednesday, with the caution ahead of the US Federal Reserve policy decision due later today and on intensified COVID-blow worldwide compelling more economic restrictions spurring concerns over global economic health.

Amid the 'strong' vaccine drive, the Asian Development Bank (ADB) in its flagship Asian Development Outlook (ADO) 2021 has stated that India's economy is likely to grow at 11 per cent in the current fiscal year (FY) 2021-2022.

In Nifty 50 top gainers Bajaj Finance Ltd, Eicher Motors Ltd, Indusind Bank Ltd, Bajaj Finserv Ltd and Kotak Mahindra Bank Ltd. The losers are Britannia Industries Ltd, Hindalco Industries Ltd, HDFC Life Insurance Company Ltd, Nestle India Ltd and Cipla Ltd.

Source : Equity Bulls

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