Daily Market Commentary - April 6, 2021 - Bonanza Portfolio

Mr Vishal Wagh, Research Head

On Tuesday Indian equity benchmark indices were trading higher tracking mixed global cues. Markets are trading higher with gains of around half a per cent each in early deals on the back of buying in Power, Utilities and Metal stocks. In the afternoon session, Indian equity benchmarks traded flat. Both Sensex and Nifty are trading around 49,150 and 14,667 levels.

Most of the Asian equity benchmarks traded lower in early deals on Tuesday, as the soaring new covid infection numbers and extended lockdown restrictions dulled the market sentiments.

As the country witnessed a rapid resurgence of coronavirus cases, the Monthly Economic Review for March 2021 released by the Department of Economic Affairs (DEA) has exuded confidence in the Indian economy and termed the economic recovery as resilient citing improvement in high-frequency indicators.

In Nifty 50 top gainers are Adani Ports and Special Economic Zone Ltd, Tata Consumer Products Ltd, Asian Paints Ltd, JSW Steel Ltd and SBI Life Insurance Company Ltd. The losers are Power Grid Corporation of India Ltd, Indusind Bank Ltd, Grasim Industries Ltd, Axis Bank Ltd and Eicher Motors Ltd.

Source : Equity Bulls

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