Daily Market Commentary - Aug 27, 2021 - Bonanza Portfolio

Mr Vishal Wagh, Research Head

Indian equity benchmarks made cautious start on Friday amid uncertainty about U.S. monetary policy and geopolitical tensions over Afghanistan. markets maintained their upward momentum in the afternoon session, following gains in Capital Goods, Telecom and Industrials stocks. Investors took some solace as Finance Minister Nirmala Sitharaman discussed with her BRICS counterparts the key areas of cooperation that would be crucial in supporting recovery of the grouping's economies and maintaining macroeconomic stability, while protecting against future uncertainties posed by the COVID-19 pandemic. Both Sensex and Nifty are trading around 56,129 and 16,703 levels.

RBI kept the key rates unchanged and said the policy stance would remain accommodative as long as was necessary. On the global front, Asian markets were trading mixed as investors awaited more guidance on the U.S. Federal Reserve's easing plans.

IT industry body Nasscom said that the new rules for operating drones in the country will usher in new growth opportunities and enable startups and SMEs to create innovative use cases and applications in various sectors like e-commerce, mining and emergency response.

In Nifty 50 top gainers Ultratech, Hindalco, SBI Life, Dr Reddys Labs and Bharti Airtel. The losers are Infosys, Indusind bank, M&M, Tata cons and nestle.

Source : Equity Bulls

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