Daily Market Commentary - Sep 27, 2021 - Bonanza Portfolio

Mr Vishal Wagh, Research Head

Indian equity benchmarks made optimistic start following mostly positive cues from global peers. equity benchmarks traded near neutral line with positive bias in late afternoon session. Traders were seen piling up positions in Auto, Realty and Energy sectors, while selling was witnessed in IT, TECK and Healthcare sectors' stocks. Traders took support after private report stated that Ratings agency ICRA revised up its 2021-22 real GDP growth estimate for India to 9 percent from the earlier 8.5 percent. A ramp-up in COVID-19 vaccination, healthy advance estimates of kharif (summer) crop and faster government spending were the factors which led to the revision. It expects the second half of the fiscal year to have brighter prospects. Both Sensex and Nifty are trading around 60,062 and 17,852 levels.

On the global front, Asian markets were trading mixed as investors weighed the implications of surging energy prices and risks from the Chinese financial system. European markets cheered surge in crude prices that powered oil stocks.

Multiplex operator stocks like PVR and Inox Leisure were buzzing after the Maharashtra government announced the opening of cinema halls and multiplexes in the state from October 22.

In Nifty 50 top gainers Maruti Suzuki, Tata motors, Hero motocorp, Bajaj auto and M&M. The losers are Tech Mahindra, HCL Tech, Wipro, Divis Labs and Bajaj finserv.

Source : Equity Bulls

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