Daily Market Commentary - Aug 25, 2021 - Bonanza Portfolio

Mr Vishal Wagh, Research Head

On Wednesday, Indian equity benchmarks made a positive start in the morning tracking gains in global peers. Markets traded near-neutral lines with positive bias in the late afternoon session. The broader indices, BSE Midcap index and small-cap index were also trading in green. Sentiments remained positive, as Chief financial advisor Krishnamurthy V Subramanian has said that India is well-poised to climate the ripple impact of taper tantrums if the US Federal Reserve begins to cut back its $120-billion-a-month quantitative easing later this year. Both Sensex and Nifty are trading around 55,944 and 16,636 levels.

On the global front, Asian markets were trading mostly in green after last week's pummeling, as global equities rebounded, though the focus for most asset classes was the U.S. Federal Reserve's annual symposium on Friday. European markets were trading higher with gains in travel stocks offsetting weak German business sentiment data, while global markets were range-bound ahead of a policy update from the U.S. Federal Reserve later this week.

In Nifty 50 top gainers Adani ports, HDFC life, Hindalco, ONGC, and Coal India. The losers are Bajaj finserv, Titan company, Bharti Airtel, Maruti Suzuki, and JSW steel.

Source : Equity Bulls

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