Daily Market Commentary - March 29, 2022 - Bonanza Portfolio

Mr. Harsh Parekh, Technical Analyst - Bonanza Portfolio

Indian equity indices closed near the day's highest level tracking strong global cues with Nifty closing above 17,300 led by the pharma, realty and capital goods. On the sectoral front, except oil & gas, all other indices ended in the green, with pharma and realty indices up 1% each and capital goods index added 0.65%. In today's trade, about 1307 shares have advanced, 1917 shares declined, and 89 shares are unchanged. Share price of Hero MotoCorp closed nearly 7% down after the Income Tax department alleged that the company made bogus expenses of over Rs. 1,000 crore. Bharti Airtel gained 3% after the company, along with unit Nettle Infrastructure Investments, had bought 12.71 crore shares of Indus Towers from an affiliate of UK's Vodafone Group Plc for Rs. 2,388.05 crore.

Shares of fertilizer companies were the top outperformers of the day on the back of robust buying at these counters. Shares of Madras Fertilizers were locked at the 20% upper limit. RCF, GSFC, National Fertilizer and Zuari Agro were up 8-13% each.

Top Nifty 50 gainers included Eicher Motors, Adani Ports, Divis Labs, JSW Steel and HDFC while the losers included Hero Motocorp, ONGC, Coal India Indian Oil Corporation and ITC.

Source : Equity Bulls

Keywords

BonanzaPortfolio Nifty Sensex DailyMarketCommentary