Daily Market Commentary - May 10, 2021 - Bonanza Portfolio

Mr Vishal Wagh, Research Head

On Monday Indian equity benchmarks made gap-up opening following a firm trend in global peers. Markets are trading higher with gains of over half a percent each in early deals, supported by buying in Metal, PSU and Healthcare counters. In the afternoon session, Indian equity benchmarks maintained their upward momentum following gains in metal, healthcare and PSU stocks. Both Sensex and Nifty are trading around 49,502 and 14,945 levels.

Asian equity benchmarks traded mixed on Monday. Some strength came following the broadly positive cues from Wall Street on Friday as surging commodity prices and weaker than expected US job growth in April allayed fears about higher inflation, interest rates and a cutback in the stimulus.

The Central Board of Indirect Taxes and Customs (CBIC) has said 'the anti-dumping duty imposed under this notification shall remain in force up to and inclusive of October 31, 2021, unless revoked, superseded or amended earlier.

In Nifty 50 top gainers Coal India Ltd, UPL Ltd, Hindalco Industries Ltd, Indian Oil Corporation Ltd and Tata motors Ltd. The losers are Britannia Industries Ltd, Shree Cement Ltd, Infosys Ltd, Ultratech Cement Ltd and Hero MotoCorp Ltd.

Source : Equity Bulls

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