Daily Market Commentary - Jan 25, 2021 - Bonanza Portfolio

Mr Vishal Wagh, Research Head

On Monday Indian equity benchmarks made a positive start but failed to hold their gains and soon slipped below neutral lines. Markets are trading lower in early deals with a marginal cut on account of selling in almost all the sector indices except Materials and Bankex. In the afternoon session, Indian equity benchmarks continued their weak trade, with Sensex and Nifty trading around 48,376 and 14,250 levels.

Asian equity benchmarks are trading mixed on Monday, as the rising new coronavirus cases and death tolls weighed on the market sentiments despite upbeat corporate earnings results and optimism for larger covid fiscal aid in the US.

Former deputy chairman of Planning Commission Montek Singh Ahluwalia said the country's economy, which contracted in the first two-quarters of the current fiscal, has started recovering at a gradual pace.

In Nifty 50 top gainers are Grasim Industries Ltd, Cipla Ltd, UPL ltd, Hero Motocorp Ltd and Sun Pharmaceutical Industries Ltd. The losers was Reliance Industries Ltd, Indusind Bank Ltd, Asian Paints Ltd, Eicher Motors Ltd and HCL Technologies Ltd.

Source : Equity Bulls

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