Daily market commentary - 27th December 2019 - BONANZA PORTFOLIO LTD

Mr Jaipal Shetty, Fundamental Analyst

- Global markets were trading in the green mostly on the back of optimism related to global economic outlook and progress in US-China trade talks.

- The domestic markets closed in the green today with NIFTY 50 closing 1% higher at 12,245.8 and SENSEX too closing 1% higher at 41,575.14 (source NSE and BSE). The Indian benchmarks might have been led higher by global optimism.

- Nifty PSU Bank Index closed 2.9% higher in trade today led by RBI's announcement that it will simultaneously purchase and sell government securities in the open market (for the second time) on Monday in a bid to lower long term yields on Government bonds.

- HG Infra stock closed higher by 5% in trade today as it has been declared L-1 bidder for a hybrid annuity mode road construction project worth around Rs 522cr in Haryana.

- CRISIL has upgraded its rating on the long-term bank facilities of Gujarat Gas Limited to "CRISIL AA+ / Stable" from "CRISIL AA/Positive" which led Gujarat Gas to close 0.8% higher in trade today.

Source : Equity Bulls

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