Daily Market Commentary - July 27, 2021 - Bonanza Portfolio

Mr Vishal Wagh, Research Head

On Tuesday Indian equity benchmarks made a positive start tracking the global trends. Markets are trading higher with marginal gains in early deals on account of buying in Metal, Basic Materials and Realty stocks. In the afternoon session, Indian equity benchmarks extended their losses as selling appeared in healthcare, power and energy stocks. Both Sensex and Nifty are trading around 52578 and 15,746 levels.

Most of the Asian equity benchmarks traded higher in early deals on Tuesday rebounded with the raised risk appetite in the market followed by the technical buying after stocks retreated on concerns over surging covid cases and restrictive measures in the region to contain further spread.

Minister of State for Finance Bhagwat K Karad has said non-performing assets (NPAs) or bad loans of banks have declined by Rs 61,180 crore to Rs 8.34 lakh crore at the end of March 31, 2021, as result of various steps taken by the government.

In Nifty 50 top gainers Hindalco, SBI life ins, Tata steel, Bajaj finserv and SBI. The losers are Dr reddys labs, Cipla, Axis bank, Adani port and Divis labs.

Source : Equity Bulls

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