Daily Market Commentary - Sep 13, 2021 - Bonanza Portfolio

Mr Vishal Wagh, Research Head

Indian equity benchmarks started the session in red on Monday amid weakness in the global peers and rising crude prices. Equity benchmarks continued their trade below the neutral line in the late afternoon session. Traders were seen piling positions up in Utilities, IT, and Metal sectors while selling was witnessed in Energy, Bankex, and Oil & Gas sectors' stocks. traders were worried as a periodic labor force survey by the National Statistical Office (NSO) showed that the unemployment rate for all ages in urban areas rose to 10.3 percent in October-December 2020 as compared to 7.9 percent in the corresponding months a year ago. Both Sensex and Nifty are trading around 58,178 and 17,355 levels.

Asian markets were trading mixed as record-high US inflation ramped up concerns the Federal Reserve will have to tighten monetary policy sooner than later. European markets were trading higher with investors buying into the idea of a strong economic recovery in the region following last week's European Central Bank policy decision.

In Nifty 50 top gainers Coal India, Kotak Mahindra, Tata Steel, Hindalco, and BPCL. The losers are Reliance, ICICI Bank, HUL, HDFC Bank, and M&M.

Source : Equity Bulls

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