Daily Market Commentary - Aug 17, 2021 - Bonanza Portfolio

Mr Vishal Wagh, Research Head

Indian equity benchmarks traded flat with a positive bias in morning deals led by gains in Healthcare, IT, and TECK stocks. Traders got some support from Finance Minister Nirmala Sitharaman's statement that the rules for the recent taxation amendment bill will be framed soon. Equity benchmarks once again entered into a green territory and traded marginally higher in the late afternoon session. Traders were seen piling up positions in IT, Teck, and Healthcare sectors while selling was witnessed in Metal, Telecom, and PSU sectors' stocks. Both Sensex and Nifty are trading around 55,838 and 16,625 levels.

On the global front, all Asian markets were trading lower amid concern about turmoil in Afghanistan and unease about China's economic outlook after weak July activity. European markets were trading lower as a spike in COVID-19 cases in Asia and elsewhere raised fears of a slowdown in global economic growth.

In Nifty 50 top gainers Tata Cons. prod, Wipro, Tech Mahindra, Nestle, and HUL. The losers are JSW steel, Tata Motors, Adani ports, Indusind bank, and Coal India.

Source : Equity Bulls

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