Daily Market Commentary - Sep 14, 2021 - Bonanza Portfolio

Mr Vishal Wagh, Research Head

Indian equity benchmarks started the session in green on Tuesday as retail inflation eased amid mixed global cues. Equity markets maintained their upward momentum in the afternoon session, following gains in utilities, consumer discretionary, and auto stocks. Healthy buying was observed in blue-chip stocks like Indusind Bank, HCL Tech, and Axis Bank. Sentiments got a boost as the government data showed that India's retail inflation in August marginally eased to 5.3%, staying within the Reserve Bank of India's comfort zone for a second month. Inflation in the food basket was 3.11% in August compared to 3.96% in the preceding month. Both Sensex and Nifty are trading around 58,267 and 17,387 levels.

Asian markets were trading mixed as they awaited the US inflation data that could play a key role in determining when the Federal Reserve will start winding down its market-supporting monetary policy.

In Nifty 50 top gainers Indusind Bank, HCL Tech, Heromoto Co, Kotak Bank, and Tata Motors. The losers are Nestle, HDFC, Ultratech, Tata Steel, and HUL.

Source : Equity Bulls

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