Daily Market Commentary - June 3, 2021 - Bonanza Portfolio

Mr Vishal Wagh, Research Head

On Thursday Indian equity benchmarks made an optimistic start amid positive global cues and ahead of the RBI monetary policy decision due Friday. Markets are trading in fine-fettle with gains of over half a percent each in early deals on account of buying in Consumer Durables, Realty and Energy stocks. Fall in daily coronavirus cases also aided the sentiments in markets. In the afternoon session, Indian equity benchmarks continued to trade in positive terrain due to buying in realty, consumer durables and oil & gas stocks. Both Sensex and Nifty are trading around 52,215 and 15,688 levels.

Most of the Asian equity benchmarks traded higher in early deals on Thursday, cheered by the positive trend in Wall Street overnight with the continued optimism over economic rebound after upbeat US manufacturing activity and as the country continues to reopen following increased Covid-19 vaccination rates and relaxed social distancing measures.

Minister of State for Finance Anurag Thakur has said that the Indian economy is resilient and will rebound in the times ahead based on consistent reforms that have ensured strong fundamentals through these difficult times.

In Nifty 50 top gainers Titan Company Ltd, Eicher Motors Ltd, Oil & Natural Gas Corporation Ltd, Larsen & Toubro Ltd and Adani Ports and Special Economic Zone Ltd. The losers are Indusind Bank Ltd, Mahindra & Mahindra Ltd, Cipla Ltd, Bajaj Auto Ltd and Wipro Ltd.

Source : Equity Bulls

Keywords