The benchmark indices gave a positive closing led by IT, Metal and Pharma stocks on 10th March 2021.
At close, the Sensex was up 254.03 points or 0.50 per cent at 51, 279.51 and the Nifty was up 76.40 points or 0.51 per cent at 15,174.80. About 1609 shares have advanced, 1322 shares declined and 170 shares remain unchanged.
On the Nifty 50 index, JSW Steel (3.09 per cent), Eicher Motors (3.07 per cent), Tata Steel (2.51 per cent), Bajaj Finance (2.40 per cent) and Sun Pharma (2.19 per cent) were the top gainers for the day, while SBI Life Insurance (-3.15 per cent), ONGC (-2.01 per cent), IOC (-1.69 per cent), HDFC Life (-1.20 per cent) and GAIL (-0.91 per cent) were the top losers for the day.
On the sectoral front, except Nifty Energy and Nifty PSU Banks all other Nifty sectoral indices ended in green, led by Nifty Metal (1.87 per cent), Nifty IT (1.67 per cent) and Nifty Pharma (1.48 per cent).
The BSE Midcap and Smallcap indices were up 0.77 per cent and 0.95 per cent respectively.
Author’s View: Nifty is unable to give a breakout above 15,250 level hence our view on the market remains sideways. Once this level is broken we can see bullish targets of 15,500 – 15,600 in Nifty. IT stocks look promising for short to medium term.
Disclaimer: The view/s expressed above are only for educational/awareness purpose. Mumbailive.com or the author of the post bears no liability for any losses suffered by following any advice posted on the website. You are solely responsible for making your own investment decisions.
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