Daily Market Commentary - Jan 4, 2021 - Bonanza Portfolio

Mr Vishal Wagh, Research Head

On Monday, Indian equity benchmarks made an optimistic start tracking Asian peers. Markets are trading firms on account of buying in Metal, PSU and Basic Materials stocks. In the afternoon session, Indian stock markets continued to trade in positive terrain due to buying in metal, basic materials and IT stocks. Both Sensex and Nifty are trading around 48,155 and 14,128 levels.

Most of the Asian equity benchmarks are trading higher in early deals on Monday, though most of them opened lower with the concerns over untamed coronavirus. Market sentiments got buoyed with the vaccine rollout and optimism ahead to the release of Minutes of Federal Reserve's December meeting and a US December payroll report, which will provide further clues on the pace of economic recovery.

In Nifty 50 top gainers are Tata Steel Ltd, Hindalco Industries Ltd, Eicher Motors Ltd, Oil & Natural Gas Corporation Ltd and Tata Consultancy Services Ltd. The loser was Hero MotoCorp Ltd, Kotak Mahindra Bank Ltd, Adani Ports and Special Economic Zone Ltd, Bajaj Finance Ltd and HDFC Bank Ltd.

Source : Equity Bulls

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