Daily Market Commentary - March 2, 2021 - Bonanza Portfolio

Mr Vishal Wagh, Research Head

On Tuesday Indian equity benchmarks made a positive start, extending gains for another session, following a rally in global peers. Markets were trading firmly in early deals on the back of buying in all sector indices led by Oil & Gas, IT and Utilities. In the afternoon session, Indian equity benchmarks maintained their upward momentum and continued to trade on the positive bias, following gains in IT, Auto and TECK stocks. Both Sensex and Nifty are trading around 50,110 and 14,858 levels.

Most of the Asian equity benchmarks traded higher in early deals on Tuesday, cheered by the positive trend in Wall Street and as the clam in of bond yields after recent wild run eased concerns about the outlook for interest rates.

In Nifty 50 top gainers are Mahindra & Mahindra Ltd, Tata Motors Ltd, NTPC Ltd, Wipro Ltd and Adani Ports and Special Economic Zone, Oil & Natural Gas Corporation Ltd. The loser was Oil & Natural Gas Corporation Ltd, Housing Development Finance Corporation Ltd, Power Grid Corporation of India Ltd, UPL Ltd and Dr. Reddy's Laboratories Ltd.

Source : Equity Bulls

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