Daily Market Commentary - Dec 21, 2020 - Bonanza Portfolio

Mr Vishal Wagh, Research Head

On Monday Indian equity benchmarks made a gap down opening tracking weakness in global peers amid rising coronavirus cases and fresh lockdowns in some countries. Soon, markets managed to trim some of their losses and are trading lower with the marginal cut. In the afternoon session Indian equity benchmarks erased all gains and traded deep in red, selling appeared in all sectoral indices, both Sensex and Nifty were trading around 45,650and 13,350 levels.

Asian equity benchmarks are trading mixed on Monday, as the investors went cautious amid a resurgence in COVID cases. The coronavirus situation in parts of North Asia such as Japan and South Korea remains severe.

Union Minister Anurag Singh Thakur said that India has the potential to achieve double-digit growth through a healthy dose of digital services and manufacturing base expansion which will be driven by demand from the rural sector, youth and the aspirational middle class.

In Nifty 50 top gainers are Nestle India Ltd, Infosys Ltd, TCS Ltd, Hindustan Unilever Ltd and Kotak Mahindra Bank Ltd. The loser was Oil & Natural Gas Corporation Ltd, Tata Motors Ltd, GAIL (India) Ltd, India Oil Corporation Ltd and Indusind Bank Ltd.

Source : Equity Bulls

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