Nifty still below 15,200: Sensex ends 254 pts higher; Bajaj Finance, Sun Pharma, Tech Mahindra are top gainers.

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Nifty Still Below 15,200: Sensex Ends 254 Pts Higher; Bajaj Finance, Sun Pharma, Tech Mahindra Are Top Gainers.

Domestic equity markets closed with gains on 10th March 2021 – Wednesday. Broader markets outperformed benchmarks and volatility slipped below 21.

Domestic equity markets continued their upward swing, following the jump seen on Wall Street. S&P BSE Sensex ended 254 points higher 51,279 points up 0.50%. The 50-stock NSE Nifty index zoomed 76 points closing at 15,174. ONGC, Kotak Mahindra Bank, and Maruti Suzuki India were the top drags. Nifty Metal and Nifty Index were the best performers during the day. Volatility slipped below 21 levels.

For the third-day straight domestic equity markets recorded gains. S&P BSE Sensex closed 254 points higher at 51,279 while the 50-stock NSE Nifty 50 ended above 15,150 but failed to breach the 15,200 levels. Volatility slipped during the day to now sit below 21 levels. Broader markets were slightly better than benchmarks with Smallcap and Midcap indices on both NSE and BSE outperformed Nifty and Sensex. Among sectors, Nifty Metal, Nifty IT and Nifty Pharma were the best performers.

“Domestic markets mirrored positive cues from its global peers, tracking gains from the US market as bond yields pulled back easing concerns about rising inflation. As per the data published by the Federation of Automobile Dealers Association, the retail sales for February grew 10.59% YoY after reporting a 4.4% decline in January keeping the outlook for the sector intact. However, two-wheeler, three-wheeler and commercial vehicles continued to see sluggish demand. Buying interest was broad-based led by IT, pharma and metal stocks.”


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