Daily Market Commentary - Oct 14, 2021 - Bonanza Portfolio

Mr Vishal Wagh, Research Head

Indian equity benchmarks continued their bull run and made an optimistic start on Thursday tracking gains in other Asian peers. Key benchmark indices added more points in the late afternoon session, surpassing their crucial 61200 (Sensex) and 18310 (Nifty) levels. Among heavy-weights ITC, Power Grid and HDFC Bank exhibited a smart performance. Sentiments remained upbeat, as India's inflation based on the wholesale price index (WPI) eased to 10.66% in September as against 11.39% in August. Traders overlooked, due to the COVID-19 and policies put in place to respond to it, the global debt has jumped to a new high of USD 226 trillion with India's dues projected to rise to 90.6 percent in 2021. Both Sensex and Nifty are trading around 61,296 and 18,335 levels.

On the global front, all Asian markets were trading firms as investor's-maintained optimism in the global recovery outlook but prepared for the end of an era of cheap cash with inflation continuing to surge on the back of supply chain problems and improving demand.

In Nifty 50 top gainers Adani ports, Wipro, Grasim, HDFC Bank, and ITC. The losers are Coal India, Tata Motors, TCS, Eicher Motors, and HCL tech.

Source : Equity Bulls

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DailyMarketCommentary Oct142021 BonanzaPortfolio