Daily Market Commentary - Feb 8, 2021 - Bonanza Portfolio

Mr Vishal Wagh, Research Head

On Monday Indian equity benchmarks made gap-up opening tracking strong global cues. Markets are trading firms in early deals, with gains of over a percent each, on the back of buying in all the sector indices led by Auto, Telecom and Consumer discretionary counters. In the afternoon session, Indian equity benchmarks continued to trade in high spirit on account of broad-based buying in blue-chip counters. Both Sensex and Nifty are trading around 51,302 and 15,112 levels.

Most of the Asian equity benchmarks are trading higher on Monday, as the market sentiments got boosted with the continued rollout of vaccines and falling coronavirus infection rates in a different part of the world. Modest gains in Wall street in Friday trade also cheered the sentiments.

Defence Minister Rajnath Singh has said that the government's endeavor is also to bring down its defense imports, to encourage the manufacture of defense-related items in the country.

In Nifty 50 top gainers are Mahindra & Mahindra Ltd, Hindalco Industries Ltd, Shree Cement Ltd, Tata Motors Ltd and JSW Steel Ltd. The loser was Britannia Industries Ltd, Hindustan Unilever Ltd, Kotak Mahindra Bank Ltd, Divi's Laboratories Ltd and ITC Ltd.

Source : Equity Bulls

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