Daily Market Commentary - Dec 9, 2020 - Bonanza Portfolio

Mr Vishal Wagh, Research Head

On Wednesday Indian equity benchmarks, extending their record run of the previous session, opened at fresh highs, tracking overnight gains on Wall Street and favorable cues from Asian peers. Markets are trading in fine-fettle with gains of over half a percent on the back of sustained buying in all the sectoral indices led by IT, Realty and PSU. In the afternoon session, Indian equity benchmarks maintained their upward momentum following gains in energy, IT, Oil and gas stocks.

Asian equity benchmarks are trading in the green on Wednesday, catching up with the positive note in Wall Street overnight followed by the ongoing efforts to launch near term aid plan for the struggling US economy and as health care stocks got bolstered with the positive COVID-19 vaccine news.

In Nifty 50 top gainers are UPL Ltd, Asian Paints Ltd, Kotak Mahindra Bank Ltd, Indian Oil Corporation Ltd and HDFC Bank Ltd. The loser was Hindalco Industries Ltd, UltraTech Cement Ltd, Wipro Ltd, Shree Cement Ltd and Grasim Industries Ltd.

Source : Equity Bulls

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