Stock Market Highlights: Sensex ends 87 points lower at 49,771, IT stocks outperform

The benchmark indices ended in red after a volatile trading session on March 22, 2021. IT and Metal stocks outperformed.

At close, the BSE Sensex was down 86.95 points or 0.17 per cent at 49,771.29 and the Nifty was down 7.60 points or 0.05 per cent at 14,736.40. About 1570 shares have advanced, 1427 shares declined and 223 shares remain unchanged.

On the Nifty 50 index, Adani Ports (5.19 per cent), Britannia (2.82 per cent), TCS (2.60 per cent), Tech Mahindra (2.44 per cent) and Sun Pharma (2.20 per cent) were the top gainers for the day, while IndusInd Bank (-4.32 per cent), Power Grid Corp (-2.89 per cent), ICICI Bank (-2.25 per cent), Tata Motors (-1.91 per cent) and HDFC Bank (-1.89 per cent) were the top losers for the day.

On the sectoral front, other than Nifty Bank (-1.63 per cent), Nifty Auto (-0.45 per cent), Nifty PSU Bank (-1.08 per cent), all the other Nifty sectoral indices ended in green led by Nifty IT (1.85 per cent), Nifty Pharma (1.57 per cent) and Nifty Metal (0.91 per cent).

The BSE Midcap and Smallcap indices were up 0.99 per cent and 0.73 per cent respectively.

Author’s View: Nifty needs to decisively hold above 14,700 zones to see an up move towards 14,900 and 15,000 zones. On the downside, immediate support exists at 14,600 and 14,450 zones.

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