Daily Market Commentary - Sep 9, 2021 - Bonanza Portfolio

Mr Vishal Wagh, Research Head

Indian equity benchmarks started the session slightly in red on Thursday ahead of long weekend and weakness in global peers equity benchmarks continued their weak trade in afternoon session amid downbeat global market sentiment and foreign fund outflows. FIIs stood as net sellers in the capital market as they offloaded shares worth Rs 802.51 crore on Wednesday. Concerns loomed as regulator bites the bullet on T+1 settlement cycle impacted investors' sentiments. Move to shorter T+1 settlement cycle from 2022 will not be easy and require a coordinated effort among exchanges, depositories, and clearing corporations. Both Sensex and Nifty are trading around 58,195 and 17,336 levels.

Asian markets were trading mixes as investors await more indications that economic reopening can overcome challenges posed by the delta variant.

In Nifty 50 top gainers ONGC, Nestle, Bharti airtel, Tata motors and Tata steel. The losers are SBI life, Titan company, HDFC life, Ultratech and Axis Bank.

Source : Equity Bulls

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