Daily Market Commentary - May 25, 2021 - Bonanza Portfolio

Mr Vishal Wagh, Research Head

On Tuesday Indian equity indices made an optimistic start tracking firm cues from global markets. Domestic indices are trading higher in early deals with notable gains on the back of buying in almost all the sector indices led by Metal, Utilities and Consumer Durables, while only banking index was down. Fall in fresh coronavirus cases in the country aided the sentiments in the markets. In the afternoon session, Indian equity benchmarks trimmed all of their initial gains and entered into red terrain. Both Sensex and Nifty are trading around 50,623 and 15,206 levels.

Most of the Asian equity benchmarks traded higher in early deals on Tuesday, as the hefty buying of Technological shares in Wall Street overnight cheered up the buying in Asian stocks after the Federal Reserve's comforting comments on inflation.

The commerce and industry ministry has said that foreign direct investment (FDI) equity inflow into the country (India) grew by 19 per cent to $59.64 billion during 2020-21 (FY21) as compared to $49.98 billion in 2019-20 on account of measures taken by the government on the fronts of policy reforms, investment facilitation and ease of doing business.

In Nifty 50 top gainers JSW Steel Ltd, Asian Paints Ltd, Titan Company Ltd, Eicher Motors Ltd and Britannia Industries Ltd. The losers are HDFC Bank Ltd, HDFC Life Insurance Company Ltd, Axis Bank Ltd, Indusind Bank Ltd and Coal India Ltd.

Source : Equity Bulls

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