Daily Market Commentary - July 22, 2021 - Bonanza Portfolio

Mr Vishal Wagh, Research Head

On Thursday Indian equity benchmarks made gap-up opening tracking firm cues from global peers. Markets are trading in fine-fettle with gains of around a percent in early deals on account of buying in heavy buying in Realty, Metal, and Consumer Durables stocks. In the afternoon session, Indian equity benchmarks were trading at the day's high point on the back broad-based buying in frontline bluechip counters by the fund and retail investors amid positive global cues. Both Sensex and Nifty are trading around 52,799 and 15,809 levels.

Asian equity benchmarks traded in the green in early deals on Thursday, supported by some bargain hunting after the sharp correction in midst of the continued spread of the highly contagious coronavirus delta variant in several markets.

The Internet and Mobile Association of India (IAMAI) has said that the proposed e-commerce regulations could negatively impact consumer interest while creating a high level of uncertainty and increasing the compliance burden for not just e-commerce companies but also MSMEs providing services to online retailers.

In Nifty 50 top gainers Tech Mahindra Ltd, Bajaj Finance Ltd, JSW Steel Ltd, Bajaj Finserv Ltd, and Bharti Airtel Ltd. The losers are Hindustan Unilever Ltd, Asian Paints Ltd, Bajaj Auto Ltd, Cipla Ltd, and Mahindra & Mahindra Ltd.

Source : Equity Bulls

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