Daily Market Commentary - Aug 2, 2021 - Bonanza Portfolio

Mr Vishal Wagh, Research Head

Indian equity benchmarks made a gap-up opening on Monday tracking positive trends in Asian peers, markets maintained their upward momentum in the noon session, with both Sensex and Nifty trading in green terrain. Positive cues from other Asian markets helped key indices to remain higher. Domestic sentiments remained positive, after India's manufacturing sector activities witnessed the strongest rate of growth in three months in July amid improved demand conditions and easing of some local COVID-19 restrictions. Both Sensex and Nifty are trading around 52,960 and 15,887 levels.

Asian markets were trading mostly in green even as China reported a slowdown in manufacturing activity and countries in the region continued to be hammered by the delta variant. European markets were trading higher with rising to a new record on earnings updates and easing concern about China's regulatory crackdown.

In Nifty 50 top gainers Shree cement, Titan Company, BPCL, Eicher Motors, and Adani ports. The losers are UPL, Tata steel, Bajaj finserv, NTPC, and Bajaj Finance.

Source : Equity Bulls

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