Daily Market Commentary - April 12, 2021 - Bonanza Portfolio

Mr Vishal Wagh, Research Head

On Monday Indian equity benchmarks made a gap-down opening on concerns over rising Covid-19 cases. Markets are trading deeply in red with cut of over 2% each in early deals due to selling in all the sector indices led by Realty, PSU and Bankex. In the afternoon session, Indian equity benchmarks continued to grapple in deep red as concerns over rising COVID-19 cases in the country and fears of lockdown in certain states weighed on sentiment. Both Sensex and Nifty are trading around 47,783 and 14,279 levels.

Most of Asian equity benchmarks traded lower in early deals on Monday, due to worries over possible lockdown restrictive measures amid spiked corona cases worldwide and lagging vaccinations.

Finance Minister Nirmala Sitharaman has urged the World Bank Group (WBG) to explore the possibility of sustaining crisis response keeping in mind debt sustainability of vulnerable countries amid surge in COVID-19 cases.

In Nifty 50 top gainers Dr. Reddy's Laboratories Ltd, Cipla Ltd, Divi's Laboratories Ltd and Britannia Industries Ltd. The losers are Tata Motors Ltd, Adani Ports and Special Economic Zone Ltd, Indusind Bank Ltd, Bajaj Finance Ltd and State Bank of India.

Source : Equity Bulls

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