Daily Market Commentary - April 15, 2021 - Bonanza Portfolio
(Time Zone: UTC)
Mr Vishal Wagh, Research Head
On Thursday Indian equity benchmarks made a cautious start amid mixed global cues. Soon, markets slipped into red territory and are trading lower as Maharashtra announced lockdown-like stricter restrictions amid a continued spike in COVID cases. Selling in IT, Auto and TECK stocks dented the sentiments. Rising coronavirus cases weighted down on the markets. In the afternoon session, Indian equity benchmarks trimmed most of their losses, and continued to trade above the neutral line. Stocks from auto, IT and Oil & consumer discretionary counters were trading lower, while metal, healthcare and power counters were supporting the markets. Both Sensex and Nifty are trading around 48,767 and 14,571 levels.
Asian markets were trading mixed following lackluster cues overnight from Wall Street. The markets received support from crude oil prices offset by weakness in financial and technology stocks.
Auto industry body Society of Indian Automobile Manufacturers (SIAM) has termed the government's move to extend the FAME II certification validity by one year as a step in the right direction.
In Nifty 50 top gainers Cipla Ltd, TCS Ltd, Adani Ports and Special Economic Zone Ltd, Wipro Ltd and ICICI Bank Ltd. The losers are Eicher Motors Ltd, Grasim Industries Ltd, Infosys Ltd, Maruti Suzuki India Ltd and Indusind Bank Ltd.