Daily Market Commentary - Jan 11, 2021 - Bonanza Portfolio

Mr Vishal Wagh, Research Head

On Monday Indian equity benchmarks made an optimistic start following gains in Asian peers amid positive global cues. Markets are trading higher with notable gains on the back of buying in IT, TECK and Telecom stocks. In the afternoon session, Indian equity markets maintained their upward momentum following gains in IT, TECK and FMCG stocks. Both Sensex and Nifty are trading around 49,260 and 14,482 levels.

Most of the Asian equity benchmarks are trading higher in early deals on Monday, in line with positive Wall Street on Friday with the optimism that a Democrat-controlled government will lead to more fiscal stimulus and better handling of the coronavirus vaccine rollout.

Automobile dealers' body, the Federation of Automobile Dealers Associations (FADA) in its latest report has shown that passenger vehicle (PV) retail sales in December 2020 witnessed a year-on-year increase as compared to December 2019.

In Nifty 50 top gainers are Tata Motors Ltd, HCL Technologies Ltd, Infosys Ltd, Wipro Ltd and Housing Development Finance Corporation Ltd. The loser was Tata Steel Ltd, Bajaj Finance Ltd, Reliance Industries Ltd, Larsen & Toubro Ltd and Bajaj Finserv Ltd.

Source : Equity Bulls

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