Market Commentary

Daily Market Commentary - April 13, 2021 - Bonanza Portfolio



Posted On : 2021-04-13 16:45:01( TIMEZONE : IST )

Daily Market Commentary - April 13, 2021 - Bonanza Portfolio

Mr Vishal Wagh, Research Head

On Tuesday Indian equity benchmarks made a positive start, after having suffered heavy losses the previous day, amid gains in Asian peers. Markets are trading higher with gains of around half a percent each in early deals on the back of board based buying in Metal, Realty and PSU counters. In the afternoon session, Indian equity benchmarks continued to trade in positive terrain due to buying in auto, realty and PSU stocks. Both Sensex and Nifty are trading around 48,432 and 14,464 levels.

Most of the Asian equity benchmarks traded higher in early deals on Tuesday, as the market sentiments got bolstered with the peaking US treasury yields and a positive outlook ahead of the US earnings season and release of key inflation data.

The consumer price index (CPI) based retail inflation rose to a four-month high of 5.52 per cent in March over 5.03 per cent in February on account of rising food prices as well as costlier fuel, though it remained within the comfort zone of the Reserve Bank of India (RBI).

In Nifty 50 top gainers Mahindra & Mahindra Ltd, Bajaj Finserv Ltd, Tata Motors Ltd, Bajaj Finance Ltd and Maruti Suzuki India Ltd. The losers are TCS Ltd, Dr. Reddy's Laboratories Ltd, Tech Mahindra Ltd, Wipro Ltd and HCL Technologies Ltd.

Source : Equity Bulls

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