Daily Market Commentary - May 21, 2021 - Bonanza Portfolio

Mr Vishal Wagh, Research Head

On Friday Indian equity benchmarks, after two-day of losses, made an optimistic start mirroring favourable global cues. Markets are trading in high spirit with gains of over a percent each in early deals on the back of buying in all the sector indices led by Realty, Bankex and Telecom. Dip in daily Covid cases also supported market sentiment. In the afternoon session, Indian equity benchmarks continued to trade in positive terrain. Both Sensex and Nifty are trading around 50,509 and 15,171 levels.

Most of the Asian equity benchmarks traded lower in early deals on Friday, weighed down by the cautiousness amid the distressing wave of novel coronavirus infections in several parts of the region and on prospects of inflation with the global economic rebound.

In Nifty 50 top gainers Indusind Bank Ltd, State Bank of India, HDFC Bank Ltd, ICICI Bank Ltd and Axis Bank Ltd. The losers are Dr. Reddy Laboratories Ltd, Eicher Motors Ltd, Grasim Industries Ltd and Power Grid Corporation Of India Ltd.

Source : Equity Bulls

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