Daily Market Commentary - May 28, 2021 - Bonanza Portfolio

Mr Vishal Wagh, Research Head

On Friday Indian equity benchmarks made an optimistic start tracking positive cues from Asian peers. Markets are trading higher in early deals with notable gains aided by buying in almost all the sector indices except healthcare. Fall in coronavirus cases also supported the indices. In the afternoon session, the Indian equity benchmark continued to trade in positive terrain. Both Sensex and Nifty are trading around 51,358 and 15,411 levels.

Most of the Asian equity benchmarks traded higher in early deals on Friday, kindled by the new economic rebound optimism after the release of better than expected US economic data.

Amid uncertainties arising out of the second wave of COVID-19, the Reserve Bank of India (RBI) in its annual report has said that a durable revival of private consumption and investment would be critical for sustaining economic growth post-pandemic.

In Nifty 50 top gainers Reliance Industries Ltd, Adani Ports and Special Economic Zone Ltd, Grasim Industries Ltd, Mahindra & Mahindra Ltd and Coal India Ltd. The losers are Sun Pharmaceutical Industries Ltd, ICICI Bank Ltd, Bajaj Finserv Ltd, Dr. Reddy Laboratories Ltd and NTPC Ltd.

Source : Equity Bulls

Keywords