The benchmark indices ended in the red on March 16, 2021. The Nifty closed below 14,950 level and the Sensex was down close to 0.06 per cent. IT stocks outperformed.
At close, the BSE Sensex was down 31.12 points or 0.06 per cent at 50,363.96 and the Nifty was down 19.05 points or 0.13 per cent at 14,910.45.
On the Nifty 50 index, Asian Paints (4.82 per cent), Dr Reddys Labs (2.47 per cent), HCL Tech (1.50 per cent), HUL (1.50 per cent) and TCS (1.43 per cent) were the top gainers for the day, while Tata Steel (-1.68 per cent), Cipla (-1.64 per cent), Larsen (-1.48 per cent), BPCL (-1.45 per cent) and ICICI Bank (-1.42 per cent) were the top losers for the day.
On the sectoral front, Nifty IT (1.27 per cent), Nifty Auto (0.15 per cent) and Nifty FMCG (0.89 per cent) ended in the green, while Nifty Metal (-0.85 per cent), Nifty Pharma (-0.10 per cent), Nifty Bank (-1.07 per cent), Nifty Realty (-0.56 per cent), Nifty Energy (-0.15 per cent) and Nifty PSU Bank (-1.32 per cent) ended in the red.
The BSE Midcap and Smallcap indices rose 0.40 per cent and 0.32 per cent respectively.
Author’s View: Market opened in green but drifted lower to close in red. Nifty failed to sustain and close above the 15,000 level. It is prudent to wait for a decisive breakout and closing above 15,000 before building fresh long positions.
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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