Daily Market Commentary - Feb 15, 2021 - Bonanza Portfolio

Mr Vishal Wagh, Research Head

On Monday Indian equity benchmarks made gap-up opening tracking firm trend in global peers. Markets are trading in fine-fettle with gains of around a percent each in early deals. Buying in Bankex, Telecom and Realty aided the sentiments. Positive macro-economic data supported markets. In the afternoon session, Indian equity benchmarks continued to trade higher as traders were taking encouragement with easing Consumer Price Index (CPI) data. Both Sensex and Nifty are trading around 52,060 and 15,294 levels.

Asian equity benchmarks traded higher in early deals on Monday, kindled by the optimism on back to normalcy soon with the decline in covid cases, and vaccine rollout at a faster pace all over the world.

India's factory output, measured in terms of the Index of Industrial Production (IIP), witnessed a growth of 1 percent in December 2020, primarily led by basic metals, pharmaceutical and petrochemical products, and an overall positive growth in the manufacturing sector.

In Nifty 50 top gainers are Axis Bank Ltd, ICICI Bank Ltd, Bajaj Finance Ltd, State Bank of India and Indusind Bank Ltd. The loser was SBI Life Insurance Company Ltd, HDFC Life Insurance Company Ltd, TCS Ltd, Dr. Reddy's Laboratories Ltd and Grasim Industries Ltd.

Source : Equity Bulls

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