Daily Market Commentary - June 21, 2021 - Bonanza Portfolio

Mr Vishal Wagh, Research Head

On Monday Indian equity benchmarks made gap-down opening tracking weakness in global peers. Markets trimmed some of their losses but continued their trade-in red in early deals due to selling in almost all the sector indices except FMCG. In the afternoon session, Indian equity benchmarks trimmed all their losses and entered into positive terrain. Both Sensex and Nifty are trading around 52,459 and 15,715 levels.

Asian equity benchmarks traded in red in early deals on Monday, as the market sentiments got dulled with the sluggish US jobs weekly data and as investors side-lined with the US Federal Reserve's hint about raising interest rate faster than the market anticipated.

The UN Conference on Trade and Development (UNCTAD) in its World Investment Report 2021 has said that Foreign Direct Investment (FDI) into India increased 27 percent to $64 billion in 2020 from $51 billion in 2019, pushed up by acquisitions in the information and communication technology (ICT) industry, making the country the fifth-largest FDI recipient in the world.

In Nifty 50 top gainers Adani Ports and Special Economic Zone Ltd, NTPC Ltd, Titan Company Ltd, Hindustan Unilever Ltd, State Bank of India. The losers are UPL Ltd, Wipro Ltd, Mahindra & Mahindra Ltd, Maruti Suzuki India Ltd and Tata Consultancy Services Ltd.

Source : Equity Bulls

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