Daily Market Commentary - Dec 24, 2020 - Bonanza Portfolio

Mr Vishal Wagh, Research Head

On Thursday Indian equity benchmarks made an optimistic start tracking gains in global peers. The market is trading firm with notable gains on hopes for a swift economic recovery from the coronavirus pandemic. In the afternoon session, Indian equity benchmarks maintained their upbeat mood as buying momentum in the equities persisted ahead of the Christmas holiday.

Most of the Asian equity benchmarks are trading higher on Thursday, whetted by the optimism over global economic recovery and a potential Brexit deal offset worries about uncertainty on a US coronavirus relief package.

To support the ongoing revival in economic activities, the Reserve bank of India (RBI) Governor Shaktikanta Das has asked banks to take proactive measures to strengthen their resilience and lending capacity by raising capital.

In Nifty 50 top gainers are Tata Motors Ltd, Oil & Natural Gas Corporation Ltd, Axis Bank Ltd, Reliance Industries Ltd and Indian Oil Corporation Ltd. The loser was Infosys Ltd, Nestle India Ltd, Wipro Ltd, Dr. Reddy's Laboratories Ltd and Grasim Industries Ltd.

Source : Equity Bulls

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