Daily Market Commentary - Jan 27, 2021 - Bonanza Portfolio

Mr Vishal Wagh, Research Head

On Wednesday Indian equity benchmarks made a pessimistic start amid mixed global cues. Markets are trading deeply in red in early deals due to selling in Metal, Energy and Realty stocks. In the afternoon session, Indian equity benchmarks continued to show a sluggish trend with Sensex and Nifty trading below their psychological levels of 47,900 and 14,100, respectively.

On the global front, Asian markets were trading mixed on Wednesday after the International Monetary Fund raised its forecast for global growth this year and said it sees major central banks holding their policy-rate settings through 2022.

The latest round of FICCI's Economic Outlook Survey has stated that India's gross domestic product (GDP) is expected to contract by 8 percent in the current financial year (FY21).

In Nifty 50 top gainers are Wipro Ltd, SBI Life Insurance Company Ltd, Tech Mahindra Ltd, HDFC Life Insurance Company Ltd and ITC Ltd. The loser was Axis Bank Ltd, Tata Motors Ltd, HDFC Bank Ltd, Hindalco Industries Ltd and Dr. Reddy's Laboratories Ltd.

Source : Equity Bulls

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