Daily Market Commentary - Aug 4, 2021 - Bonanza Portfolio

Mr Vishal Wagh, Research Head

Indian equity benchmarks extended their previous session's gains with an optimistic start, tracking gains in global peers. Indices claimed a fresh record peak for the second consecutive day. Indian equity benchmarks continue to trade jubilantly in noon deals with frontline gauges trading above 16250 (Nifty) and 54,300 (Sensex) levels. Sentiment improved because the virus seems to be under control in most states. Both Sensex and Nifty closed at 54,369 and 16258.

On the global front, Asian markets were trading mostly higher as traders shrugged off concerns about the rapid spread of the delta variant of the covid19 amid continued optimism about the economic outlook.

In Nifty 50 top gainers SBI, HDFC, Kotak Mahindra Bank, ICICI Bank, and HDFC Bank. The losers are Titan company, Hindalco, Tata Motors, Grasim, and BPCL.

Source : Equity Bulls

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