Daily Market Commentary - Jan 8, 2021 - Bonanza Portfolio

Mr Vishal Wagh, Research Head

On Friday Indian equity benchmarks made gap-up opening tracking global cues. Markets are trading firm with gains on the back of buying in all the sector indices except metal. In the afternoon session, Indian equity benchmarks continued to trade in high spirit, tracking positive global cues amid hopes of additional fiscal stimulus in the United States and optimism about an economic recovery. Both Sensex and Nifty are trading around 48,679 and 14,317 levels.

Most of the Asian equity benchmarks are trading mostly higher on Friday tracking overnight gains on Wall Street with optimism that Democratic control of the Senate would enable President-elect Joe Biden to implement more fiscal stimulus measures.

After a review of the present liquidity and financial situation, the Reserve Bank of India (RBI) has said that it will conduct simultaneous purchase and sale of government securities via Open Market Operation (OMO) on January 14.

In Nifty 50 top gainers are Wipro Ltd, Maruti Suzuki India Ltd, Tech Mahindra Ltd, Eicher Motors Ltd and UPL Ltd. The loser was Hindalco Industries Ltd, Tata Steel Ltd, Bharti Airtel Ltd, GAIL (India) Ltd and ITC Ltd.

Source : Equity Bulls

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