Daily Market Commentary - Jan 5, 2021 - Bonanza Portfolio

Mr Vishal Wagh, Research Head

On Tuesday Indian equity benchmarks made gap-down start tracking weakness in Asian peers. Soon, markets managed to trim losses and are trading lower with the marginal cut. Selling in Metal, Energy and PSU stocks weighted down on the domestic indices. In the afternoon session, Indian equity benchmarks managed to keep their head above water. Selling pressure in metal, realty and power stocks kept lid on the gains, while buying in IT, TECK and healthcare stocks helped both Sensex and Nifty to trading above 48,350 and 14,150 levels.

Most of the Asian equity benchmarks are trading lower on Tuesday following the negative cues from Wall Street amid the recent surge in coronavirus cases in several parts of the world.

Minister of State for Finance Anurag Thakur has said the central government is making efforts to turn India into a manufacturing and export powerhouse. Thakur said manufacturing will now be broad-based in the country.

In Nifty 50 top gainers are Axis Bank Ltd, Indusind Bank Ltd, Wipro Ltd, Housing Development Finance Corporation Ltd and HDFC Life Insurance Company Ltd. The loser was Bajaj Finance Ltd, Oil & Natural Gas Corporation Ltd, Tata Steel Ltd, JSW Steel Ltd and Hindalco Industries Ltd.

Source : Equity Bulls

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