Daily Market Commentary - March 25, 2021 - Bonanza Portfolio

Mr Vishal Wagh, Research Head

On Thursday Indian equity benchmarks extended their previous session's losses with a negative start amid overnight losses on Wall Street. Markets are trading lower in early deals on account of selling in almost all the sector indices, led by Power, Realty and Energy, while only Metal traded up. In the afternoon session, Indian equity benchmarks continued to show a sluggish trend. Both Sensex and Nifty are trading around 48,571 and 14,357 levels.

Asian markets were trading mixed as a selloff in Chinese technology shares due to concerns they will be de-listed from U.S. bourses and worries about a semiconductor, shortage rattled some investors.

Finance Minister Nirmala Sitharaman has said that India enjoys an investment-grade rating and she does not see a rating downgrade because of higher spending.

In Nifty 50 top gainers are Tata Steel Ltd, ICICI Bank Ltd, JSW Steel Ltd, Larsen & Toubro Ltd and Indusind Bank Ltd. The losers are Maruti Suzuki India Ltd, Indian Oil Corporation Ltd, Hindustan Unilever Ltd, Hero MotoCorp Ltd and ITC Ltd.

Source : Equity Bulls

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