Daily Market Commentary - May 27, 2021 - Bonanza Portfolio

Mr Vishal Wagh, Research Head

On Thursday Indian equity benchmarks made a flat-to-positive start tracking overnight gains on Wall Street. But, soon markets slipped below neutral lines amid a muted trend in Asian peers. Markets are trading lower in early deals with marginal cut due to selling in Bankex, Metal and Basic Materials counters. In the afternoon session, Indian equity benchmarks turned volatile and entered into red terrain. Both Sensex and Nifty are trading around 50,990 and 15,301 levels.

Asian equity benchmarks traded mixed in early deals on Thursday, retreating from a two-week high level as the participants side-lined ahead to the release of Friday's US inflation data for more cues on Centre's stimulus measures.

Amid the second wave of COVID-19 pandemic, CII President Uday Kotak has 'strongly' recommended the government consider another fiscal package to support the lower end of the society as well as small and medium businesses.

In Nifty 50 top gainers Shree Cement, Ultratech Cement Ltd, Kotak Mahindra Bank Ltd, Wipro Ltd, Axis Bank Ltd. The losers are Housing Development Finance Corporation Ltd, Bajaj Finance Ltd, Oil & Natural Gas Corporation Ltd, Indian Oil Corporation Ltd and Sun Pharmaceutical Industries Ltd.

Source : Equity Bulls

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