Daily Market Commentary - Feb 16, 2021 - Bonanza Portfolio

Mr Vishal Wagh, Research Head

On Tuesday Indian equity benchmarks made an optimistic start tracking gains in Asian peers. Markets are trading firms in early deals with gains of over half a percent each, on the back of buying in all the sector indices led by Metal, Basic Materials and PSU stocks. In the afternoon session, Indian equity benchmarks cut all of their initial profit and trade in negative terrain. Both Sensex and Nifty are trading around 52,124 and 15,317 levels.

Asian equity benchmarks traded higher in early deals on Tuesday, with the increased risk appetite in the market amid optimism of economic recovery and dip in covid cases. Besides, the faster rollout of COVID-19 vaccines across the world also lifted the markets.

The Reserve Bank of India (RBI) has decided to conduct simultaneous purchase and sale of Government securities under Open Market Operations (OMO) for an aggregate amount of Rs 10,000 crore each on February 25, 2021.

In Nifty 50 top gainers are Power Grid Corporation of India Ltd, Oil & Natural Gas Corporation Ltd, Tata Steel Ltd, Hindalco Industries Ltd and NTPC Ltd. The loser was Axis Bank Ltd, ICICI Bank Ltd, Infosys Ltd, Eicher Motors Ltd and Nestle India Ltd.

Source : Equity Bulls

Keywords