Daily Market Commentary - Dec 22, 2020 - Bonanza Portfolio

Mr Vishal Wagh, Research Head

On Tuesday Indian equity benchmarks made a slightly positive start but soon slipped below neutral lines and extended their losses. Markets are trading lower with the cut of over half a percent on account of selling in most of the sector indices led by, Industrials and Consumer discretionary. In the afternoon session, Indian equity benchmarks gained momentum and traded above their neutral line, both Sensex and Nifty were trading around 46,000 and 13,450 levels.

Asian equity benchmarks are trading lower on Tuesday, in choppy trade as fears around the rampant spread of a new coronavirus strain roiled markets. Countries across the globe shut their borders to Britain on Monday due to fears about a new strain of coronavirus.

Agriculture Minister Narendra Singh Tomar has said the government is focusing on farm mechanization and asked the industry to provide small machines and equipment to farmers with less landholding to boost their income.

In Nifty 50 top gainers are HCL Technologies Ltd, Adani Ports and Special Economic Zone Ltd, Tech Mahindra Ltd, Infosys Ltd and GAIL (India) Ltd. The loser was Kotak Mahindra Bank Ltd, HDFC Bank Ltd, Bajaj Finance Ltd, Hindalco Industries Ltd and Reliance Industries Ltd.

Source : Equity Bulls

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