Stock Market Highlights: Sensex jumps 1,147 pts led by metal, financials

The benchmark indices rallied further on 3^rd March 2021, with Nifty closing above 15,200 and the Sensex jumping more than 1000 points.

At close, the Sensex was up 1,147.76 points or 2.28 per cent at 51,444.65, and the Nifty rose 326.50 points or 2.19 per cent at 15,245.60. About 1800 shares have advanced, 1142 shares declined and 175 shares remain unchanged.

On the Nifty 50 index, Tata Steel (5.66 per cent), Bajaj Finserv (5.25 per cent), Reliance (4.56 per cent), Bajaj Finance (4.26 per cent) and UPL (4.10 per cent) were the top gainers for the day, while Hero Motocorp (-1.50 per cent), Maruti Suzuki (-1.24 per cent), Bajaj Auto (-1.09 per cent), M&M (-0.93 per cent) and BPCL (-0.57 per cent) were the top losers for the day.

On the sectoral front, except Nifty Auto (-0.66 per cent) all other sectoral indices ended in green led by Nifty Metal, Nifty PSU Bank, Nifty Bank which were up 3.34 per cent, 3.16 per cent and 2.68 per cent respectively.

The BSE Midcap and Smallcap indices were up 1.45 per cent and 1.34 per cent respectively.

Author’s View: The positive upside in the Nifty 50 index is likely to continue. The next bullish targets are placed at 15,300 and 15,500. An intraday correction can be utilized to initiate fresh long positions.

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