Daily Market Commentary - June 15, 2021 - Bonanza Portfolio

Mr Vishal Wagh, Research Head

On Tuesday Indian equity benchmarks made an optimistic start despite mixed cues from global peers. Markets extended their gains and are trading firm in early deals with gains of around half a percent each, on the back of across-the-board buying. Realty, Consumer discretionary and Bankex were leading the sectoral indices. In the afternoon session, Indian equity benchmarks were trading in fine fettle due to buying in Realty, Oil & Gas and Consumer Discretionary stocks. Both Sensex and Nifty are trading around 52,796 and 15,875 levels.

Asian equity benchmarks traded mixed in early deals on Monday, as the market participants sidelined ahead to the Federal Reserve's policy meeting this week and on spiking covid-19 infections. However, the market got a lift after the G7 summit ended affirming economic support with investments until pandemic subsidies.

The National Statistical Office (NSO) under the Ministry of Statistics and Programme Implementation in its data has shown that the Rural CPI (General) in May 2021 stood at 6.48 per cent as against 3.75 per cent in April. The Urban CPI (General) stood at 6.04 per cent in May as against 4.71 per cent in April.

In Nifty 50 top gainers Asian Paints Ltd, Axis Bank Ltd, ICICI Bank Ltd, HDFC Life Insurance Company Ltd and SBI Life Insurance Company Ltd. The losers are Divi's laboratories Ltd, Coal India Ltd, Hindalco Industries Ltd, Dr. Reddy Laboratories Ltd and Bajaj Finserv Ltd.

Source : Equity Bulls

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