Daily Market Commentary - June 18, 2021 - Bonanza Portfolio

Mr Vishal Wagh, Research Head

On Friday Indian equity benchmarks made a positive start amid mixed global cues. But, soon markets turned volatile and are trading flat in early deals. Initially, some support came in as the Confederation of Indian Industry (CII) urged the government to provide a fiscal stimulus worth Rs 3 trillion along with direct cash transfers to perk up domestic demand. In the afternoon session, Indian equity benchmarks continue to trade in deep red. Both Sensex and Nifty are trading around 52,139 and 15,617 levels.

Asian equity benchmarks traded mixed in early deals on Friday, with the cautious trade amid hawkish stance of Fed Reserve, and hiking covid-19 cases in the region.

An assessment made by the Reserve Bank of India (RBI) has revealed that the devastating second wave of the coronavirus pandemic in April-May is estimated to have cost the nation Rs 2 lakh crore in terms of output.

In Nifty 50 top gainers Adani Ports and Special Economic Zone Ltd, Hindustan Unilever Ltd, Bajaj Auto Ltd, Bajaj Finserv Ltd and HDFC Life Insurance Company Ltd. The losers are Coal India Ltd, Oil & Natural Gas Corporation Ltd, Power Grid Corporation Of India Ltd, JSW Steel Ltd and UPL Ltd.

Source : Equity Bulls

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