Daily Market Commentary - Feb 4, 2021 - Bonanza Portfolio

Mr Vishal Wagh, Research Head

On Thursday Indian equity benchmarks made a pessimistic start amid lackluster global cues. Markets are trading lower with a marginal cut in early deals due to selling in Bankex, Consumer Durables and Telecom stocks. In the afternoon session, Indian equity benchmarks cut all of their losses and trade in positive terrain due to buying in power, metal and PSU stocks. Both Sensex and Nifty are trading around 50,624 and 14,885 levels.

Most of the Asian equity benchmarks are trading lower on Thursday, with the profit booking after previous sessional strong gains and on concerns over delay in further stimulus measures from the US.

Global airlines body International Air Transport Association (IATA) has said Passenger traffic at airports in tier 2 and 3 cities of India is higher than pre-COVID levels.

In Nifty 50 top gainers are ITC Ltd, State Bank of India Ltd, Coal India Ltd, Oil & Natural Gas Corporation Ltd and Shree Cement Ltd. The loser was Asian Paints Ltd, Indusind Bank Ltd, Cipla Ltd, UPL Ltd and Tata Motors Ltd.

Source : Equity Bulls

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