Daily Market Commentary - July 5, 2021 - Bonanza Portfolio

Mr Vishal Wagh, Research Head

On Monday Indian equity benchmarks made gap-up opening tracking gains in global peers. Markets extend their gains and are trading in fine-fettle in early deals on account of healthy buying in Consumer discretionary, Realty and Auto stocks. In the afternoon session, Indian equity benchmarks continued to trade in green terrain on the back of buying due to buying in Realty, Telecom and Consumer Discretionary sectors. A steady dip in COVID-19 cases, relaxation of pandemic-led curbs and a rise in daily vaccinations have boosted sentiment so far. Both Sensex and Nifty are trading around 52,856 and 15,826 levels.

Most of the Asian equity benchmarks traded in green in early deals on Monday, as the strong global economic rebound optimism spurred after US monthly job figures came out stronger than expected.

Union Finance Minister Nirmala Sitharaman has said that the government has been proactive in responding to the challenges caused by COVID-19 and is also taking up substantial reforms despite the pandemic.

In Nifty 50 top gainers Hindalco Industries Ltd, Tata Steel Ltd, Larsen & Toubro Ltd, Bajaj Finserv Ltd and Eicher Motors Ltd. The losers are HDFC Life Insurance Company Ltd, Tech Mahindra Ltd, Britannia Industries Ltd, Bharat Petroleum Corporation Ltd and Cipla Ltd.

Source : Equity Bulls

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