Daily Market Commentary - April 27, 2021 - Bonanza Portfolio

Mr Vishal Wagh, Research Head

On Tuesday Indian equity benchmarks made a positive start despite mixed global cues. Markets are trading higher with gains of around half a percent each in early deals. Slight fall in daily coronavirus cases supported the markets. In the afternoon session, Indian equity benchmarks maintained their upward momentum as sentiment remains positive due to rising coronavirus vaccination rates in many countries. Both Sensex and Nifty are trading around 48,913 and 14,644 levels.

Most of the Asian equity benchmarks traded lower in early deals on Tuesday, as the market sentiment got dulled with the mounting risks to growth in the economy of the region from surging coronavirus cases and implications of lockdowns to contain the spread.

Former Finance Secretary SC Garg has said the fresh COVID-19 wave and consequent local lockdowns may bring down the economic growth to less than 10 per cent in the current fiscal (FY22).

In Nifty 50 top gainers Hindalco Industries Ltd, Larsen & Toubro Ltd, Tata Steel Ltd, Divi's Laboratories Ltd and Reliance Industries Ltd. The losers are HDFC Life Insurance Company Ltd, SBI Life Insurance Company Ltd, Kotak Mahindra Bank Ltd, Maruti Suzuki India Ltd and Nestle India Ltd.

Source : Equity Bulls

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