Daily Market Commentary - June 22, 2021 - Bonanza Portfolio

Mr Vishal Wagh, Research Head

On Tuesday Indian equity benchmarks extended their previous session's gains with a positive start tracking firm global cues. Markets are trading in fine-fettle with gains in early deals on account of buying in all the sector indices led by Power, Oil & Gas and Industrials. In the afternoon session, Indian equity benchmarks have pared some of their gains but are still trading in positive terrain. Most of the sectoral indices were trading firm and Capital Goods was the top gainer on BSE. Both Sensex and Nifty are trading around 52,670 and 15,799 levels.

Most of the Asian equity benchmarks traded in the green in early deals on Tuesday, with the enlargement of positions amid technical buying after the previous session's sharp sell-off and subdued dollar. Positive trend in crude oil overnight and positive trend in Wall street overnight boosted risk appetite in Asian Stock market.

The Federation of Indian Chambers of Commerce and Industry (FICCI) has said that the recent changes in the FAME II scheme, including enhanced subsidies for electric two-wheelers, are expected to accelerate demand for electric vehicles in the two-wheelers, three-wheelers and bus segments.

In Nifty 50 top gainers Maruti Suzuki India Ltd, UPL Ltd, Shree Cement Ltd, Wipro Ltd and SBI Life Insurance Company Ltd. The losers are Asian Paints Ltd, Bajaj Finance Ltd, Nestle India Ltd, Kotak Mahindra bank Ltd and Hindustan Unilever Ltd.

Source : Equity Bulls

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