Daily Market Commentary - Jan 14, 2021 - Bonanza Portfolio

Mr Vishal Wagh, Research Head

On Thursday Indian equity benchmarks made a slightly negative start amid lackluster trade in global peers. Soon, markets extended their losses and were trading lower with a cut of over half a percent each in early deals. Heavy selling in IT, TECK and Metal stocks weighed down the markets. In the afternoon session, Indian equity benchmarks continued to trade near-neutral line with positive bias. Both the Sensex and Nifty are trading around 49,540 and 14,580 levels.

Most of the Asian equity benchmarks are trading higher in early deals on Thursday, as the investors eyed incoming US President Joe Biden's coronavirus stimulus proposal. However, gains were trimmed with dulled market sentiments amid the news that Trump impeached a historic second time.

In Nifty 50 top gainers are UPL Ltd, Tata Consultancy Services Ltd, Indusind Bank Ltd, Bharat Petroleum Corporation Ltd and GAIL (India) Ltd. The loser was HCL Technologies Ltd, JSW Steel Ltd, Axis Bank Ltd, Asian Paints Ltd and Tech Mahindra Ltd.

Source : Equity Bulls

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