Daily Market Commentary - Feb 19, 2021 - Bonanza Portfolio

Mr Vishal Wagh, Research Head

On Friday Indian equity benchmarks made negative start on weak global cues. But, managed to pair some of their opening losses and are trading lower with a marginal cut in early deals. Buying in Telecom, Energy and Capital Goods were supporting the indices, whereas selling in Auto, Metal and Bankex weighted down on the markets. In the afternoon session, Indian equity benchmarks continued their lackluster trade and are trading with a cut of one percent. Both Sense and Nifty are trading around 50,780 and 14,935 levels.

Most of the Asian equity benchmarks traded lower in early deals on Friday, as the market sentiments got dulled with the sluggish US jobs data pointing to the fragile economic recovery. Additionally, the downward trend of Wall Street overnight in tandem with the worries over inflation also pressured the investments.

In Nifty 50 top gainers are UPL Ltd, GAIL (India) Ltd, Hindustan Unilever Ltd, Dr. Reddy's Laboratories Ltd and Indusind Bank Ltd. The loser was Oil & Natural Gas Corporation Ltd, State Bank of India, Tata Steel Ltd, Tata Motors Ltd and Axis Bank Ltd.

Source : Equity Bulls

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