Market Commentary

Daily Market Commentary - Dec 2, 2021 - Bonanza Portfolio

Posted On : 2021-12-03 00:30:58( TIMEZONE : IST )

Mr Vishal Wagh, Research Head

Indian equity benchmarks opened on a flat note in the morning amid mixed global cues. Benchmark indices hovered near the day's highs in the late afternoon session. HDFC, Power Grid, and Sun Pharma boosted the indices. Sectorally, barring Telecom and Bankex, all indices traded firm. Strength was also visible in the broader markets with the S&P BSE Mid-cap index and the S&P BSE Small-cap index gaining over half a percent each in trade. Traders remain energized after the Ministry of Commerce and Industry in its provisional data has shown that India's merchandise exports in April-November 2021 were $262.46 billion, an increase of 50.71 percent over $174.15 billion in April-November 2020 and an increase of 24.29 percent over $211.17 billion in April-November 2019. Both Sensex and Nifty are trading around 58,213 and 17,327 levels.

Asian markets were trading mixed after a turbulent day on Wall Street as traders tried to forecast the impact of the coronavirus's omicron variant. European markets were trading lower after Apple Inc. warned component suppliers of slowing demand for its iPhone 13 lineup.

In Nifty 50 top gainers HDFC, Tata Steel, Adani ports, Power grid, and Tech Mahindra. The losers are Cipla, ICICI Bank, Ultratech Cement, Axis Bank, and Tata cons.

Source : Equity Bulls


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