Daily Report

[vc_row][vc_column][vc_column_text]Indian benchmark indices opened on a positive note and traded with gradual bullish steps following the positive closure in the US major indices and favorable early trade in the Asian bourses. Slower growth in the US jobs data increased hopes for more stimulus package by US which pulled the sentiments up. Asian markets however, retreated amid heightened US-China…[/vc_column_text][spacing desktop_height=”40″ mobile_height=”40″ smobile_height=”40″][buttons text=”View Report PDF” icon_type=”typicons” icon_left_padding=”25px” link_url=”https://www.mangalkeshav.com/research-reports/wp-content/uploads/2020/12/Daily-Commentary-08-December.pdf” font_family=”Raleway” icon_typicons=”typcn typcn-document-text”][/vc_column][/vc_row]

[vc_row][vc_column][vc_column_text]Indian benchmark indices opened with a gap up but corrected in the first half itself and went all sluggish in the second half to close flat to positive. Gap-up opening was amid UK’s approval to the Pfizer Covid-19 vaccine which is to be rolled out from next week. However, possible delay of the vaccine in reaching India may have dragged the sentiments…………..[/vc_column_text][spacing desktop_height=”40″ mobile_height=”40″ smobile_height=”40″][buttons text=”View Report PDF” icon_type=”typicons” icon_left_padding=”25px” link_url=”https://www.mangalkeshav.com/research-reports/wp-content/uploads/2020/12/Daily-Commentary-04-December.pdf” font_family=”Raleway” icon_typicons=”typcn typcn-document-text”][/vc_column][/vc_row]

[vc_row][vc_column][vc_column_text]Indian benchmark indices started off near recent peak levels but corrected in intraday trade, dragged down by banking and financial stocks. However, positive news on the approvals for deployment of Covid-19 vaccine in the UK to Pfizer-BioNTech’s and positive auto sales numbers on domestic front pulled back the markets to close near to where they opened…………[/vc_column_text][spacing desktop_height=”40″ mobile_height=”40″ smobile_height=”40″][buttons text=”View Report PDF” icon_type=”typicons” icon_left_padding=”25px” link_url=”https://www.mangalkeshav.com/research-reports/wp-content/uploads/2020/12/Daily-Commentary-03-December.pdf” font_family=”Raleway” icon_typicons=”typcn typcn-document-text”][/vc_column][/vc_row]

[vc_row][vc_column][vc_column_text]Indian benchmark indices witnessed tremendous volatility with exuberant spurt in Bank Nifty while sharp fall in the top market cap company Reliance Industries. Bank Nifty rose after ICICI Bank posted better than expected results while Reliance plunged more than 7% in a single day after posting 24% y-o-y drop in revenue which was worse than street expectations.[/vc_column_text][spacing desktop_height=”40″ mobile_height=”40″ smobile_height=”40″][buttons text=”View Report PDF” icon_type=”typicons” icon_left_padding=”25px” link_url=”https://www.mangalkeshav.com/research-reports/wp-content/uploads/2020/11/Daily-Commentary-03-November.pdf” font_family=”Raleway” icon_typicons=”typcn typcn-document-text”][/vc_column][/vc_row]

[vc_row][vc_column][vc_column_text]Overnight sharp fall in the US major indices ahead of possible lockdown in US and Europe extended losses in the Indian stock markets at the start of the day leading to a gap-down opening. However, markets turned upside down amid October F&O expiry to close marginally down. Cautiousness ahead of US elections and moratorium reported range-bound volatility……..[/vc_column_text][spacing desktop_height=”40″ mobile_height=”40″ smobile_height=”40″][buttons text=”View Report PDF” icon_type=”typicons” icon_left_padding=”25px” link_url=”https://www.mangalkeshav.com/research-reports/wp-content/uploads/2020/10/Daily-Commentary-30-October.pdf” font_family=”Raleway” icon_typicons=”typcn typcn-document-text”][/vc_column][/vc_row]

[vc_row][vc_column][vc_column_text]Kotak Bank had lifted banking sentiments on Tuesday while Wednesday witnessed immediate profit booking ahead of Axis Bank and RBL Bank results which dragged the overall sentiments down. Further sell-off was seen in the markets after the gap-down opening in European majors hitting 5 month lows. ……………………………………………………………..[/vc_column_text][spacing desktop_height=”40″ mobile_height=”40″ smobile_height=”40″][buttons text=”View Report PDF” icon_type=”typicons” icon_left_padding=”25px” link_url=”https://www.mangalkeshav.com/research-reports/wp-content/uploads/2020/10/Daily-Commentary-29-October.pdf” font_family=”Raleway” icon_typicons=”typcn typcn-document-text”][/vc_column][/vc_row]

[vc_row][vc_column][vc_column_text]Despite pessimism from the world’s largest economic indices and the Asian peers, Indian benchmark indices managed to open on a positive note. Gap up opening in Kotak Bank amid its better than expected Q2 results lifted banking sentiments where Bank Nifty surged more than 700 points with Kotak Bank hitting 10% gains in a single day……………………..view pdf[/vc_column_text][spacing desktop_height=”40″ mobile_height=”40″ smobile_height=”40″][buttons text=”View Report PDF” icon_type=”typicons” icon_left_padding=”25px” link_url=”https://www.mangalkeshav.com/research-reports/wp-content/uploads/2020/10/Daily-Commentary-28-October.pdf” font_family=”Raleway” icon_typicons=”typcn typcn-document-text”][/vc_column][/vc_row]

[vc_row][vc_column][vc_column_text]Consolidation continued in the Indian stock markets, this time with tremendous intraday volatility amid weekly expiry. Benchmark indices opened with intraday gap-down following the fall in wall-street on Wednesday ahead of the stimulus package which is expected to produce a deal for package centering the fresh coronavirus spread……………………….view pdf[/vc_column_text][spacing desktop_height=”40″ mobile_height=”40″ smobile_height=”40″][buttons text=”View Report PDF” icon_type=”typicons” icon_left_padding=”25px” link_url=”https://www.mangalkeshav.com/research-reports/wp-content/uploads/2020/10/Daily-Commentary-23-October.pdf” font_family=”Raleway” icon_typicons=”typcn typcn-document-text”][/vc_column][/vc_row]

[vc_row][vc_column][vc_column_text]Positive global cues lifted the Indian benchmark indices up at the beginning of Wednesday’s session but weakness in the heavy weight Reliance Industries and profit booking in financial stocks dragged the benchmark indices in the afternoon session. However, markets recouped earlier losses with a sharp bounce back in the Banks and NBFCs to close with marginal gains[/vc_column_text][spacing desktop_height=”40″ mobile_height=”40″ smobile_height=”40″][buttons text=”View Report PDF” icon_type=”typicons” icon_left_padding=”25px” link_url=”https://www.mangalkeshav.com/research-reports/wp-content/uploads/2020/10/Daily-Commentary-22-October.pdf” font_family=”Raleway” icon_typicons=”typcn typcn-document-text”][/vc_column][/vc_row]