Daily Market Commentary - March 3, 2021 - Bonanza Portfolio

Mr Vishal Wagh, Research Head

On Wednesday Indian equity benchmarks made a positive start, continuing their gaining momentum for third straight session, tracking gains in Asian peers. Markets are trading higher with gains of over half a percent each in early deals amid assurances from the government that it had enough COVID-19 vaccine doses to cover its population. In the afternoon session, Indian equity benchmarks added gains due to heavy buying in metal, basic materials and banking stocks. Both Sensex and Nifty are trading around 51,394 and 15,225 levels.

Asian equity benchmarks traded higher in early deals on Wednesday, as the market sentiments continued to get kindled with optimism on back to normalcy followed by the news on expected passage of Joe Biden's stimulus package, faster vaccine roll-out, slowing infection rates and easing lockdowns.

Tyre companies stocks were in focus as the government decided not to impose anti-dumping duty on truck and bus radial tyres imported from Thailand.

In Nifty 50 top gainers are Tata Steel Ltd, Bajaj Finserv Ltd, UPL Ltd, JSW Steel and Bajaj Finance Ltd. The losers were Hero MotoCorp Ltd, Maruti Suzuki India Ltd, Bajaj Auto Ltd, Mahindra & Mahindra Ltd and Bharat Petroleum Corporation Ltd.

Source : Equity Bulls

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