Daily Market Commentary - July 13, 2021 - Bonanza Portfolio

Mr Vishal Wagh, Research Head

On Tuesday Indian equity benchmarks made a positive start tracking firm global cues. Markets are trading firms with notable gains in early deals on account of buying in Realty, Metal and Utilities stocks. In the afternoon session, Indian equity benchmarks extended early gain to continue firm trade mainly due to sustained buying by investors and domestic financial institutions, also positive cues from other Asian markets kept supporting the markets. Both Sensex and Nifty are trading around 52,766 and 15,806 levels.

Most of the Asian equity benchmarks traded higher in early deals on Tuesday, kindled by the risk appetite in the market amid economic rebound optimism ahead to the trade data from China, US inflation data and second-quarter earnings reading. Moreover, the positive trend in wall street overnight also lifted the Asian stocks.

India's retail inflation, measured by the Consumer Price Index (CPI), eased marginally to 6.26 per cent in June 2021 over 6.30 per cent in May 2021.

In Nifty 50 top gainers ICICI Bank Ltd, Housing Development Finance Corporation Ltd, Grasim Industries Ltd, Axis Bank Ltd and Sun Pharmaceutical Industries Ltd. The losers are Adani Ports and Special Economic Zone Ltd, HCL Technology Ltd, Dr Reddy Laboratories Ltd, Tech Mahindra Ltd and Maruti Suzuki India Ltd.

Source : Equity Bulls

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