Daily Market Commentary - April 1, 2022 - Bonanza Portfolio

Mr. Harsh Parekh, Technical Analyst - Bonanza Portfolio

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. GST collection hit an all-time high in March 1.42 lakh cr boosted the indices. Indian equity benchmarks Index gained over late afternoon session, with both Sensex and Nifty gaining above 708 and 205 points, respectively led by Oil and Gas, energy, PSE, Pvt banks, Financial. Progress in peace talks between Russia and Ukraine improved investor hunger for riskier assets.

Shares of natural gas producers and distributors were trading with a positive bias. As the government hiked prices of commercial LPG by Rs 250 per cylinder. Adani Total Gas surged 5%, GAIL (India) jumped 4%, and Mahanagar Gas was up 2%. On the sectoral front, almost all sectors in green, Oil and gas, PSE, PV bank, Energy, Financial, realty, and Infra indices rose 2% and above, while the Pharma index slipped nearly 0.06% and healthcare index fell 0.15%.

In Nifty 50 top gainers are NTPC, BPCL, Power Grid, Indusind Bank, and SBI. The losers are Hero Motocorp, SBI life, Sun Pharma, Tech Mahindra, and Titan Company.

Source : Equity Bulls

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DailyMarketCommentary Nifty Sensex BonanzaPortfolio