The benchmark indices ended in the red on March 18th 2021. Nifty closed below 14,600 and the Sensex was down almost 600 points. IT stocks witnessed a massive sell-off.
At close, the Sensex was down 580.10 points or 1.17 per cent at 49,216.52, while Nifty was down 163.40 points or 1.11 per cent at 14,557.90. About 819 shares have advanced, 2114 shares declined and 131 shares remain unchanged.
On the Nifty 50 index, ITC (3.35 per cent), Bajaj Auto (2.66 per cent), Hindalco (1.65 per cent), Grasim (1.51 per cent) and M&M (1.04 per cent) were the top gainers for the day, while HCL Tech (-4.02 per cent), Infosys (-3.60 per cent), Dr. Reddy’s Labs (-3.29 per cent), Divis Labs (-3.12 per cent) and Hero Motocorp (-2.61 per cent) were the top gainers for the day.
On the sectoral front, other than Nifty Metal (0.04 per cent), Nifty Consumption (0.03 per cent) and Nifty FMCG (0.08 per cent) all other Nifty sectoral indices ended in red, led by Nifty IT which was down -3.09 per cent and Nifty Pharma which fell over 2 per cent.
The BSE Midcap and Smallcap indices were down 1.33 per cent and 1.58 per cent respectively.
Author’s View: The expected range of the market for the short term is likely to be between 14,400 – 14,900. Traders should remain cautious till Nifty gives a breakout over 14,900.
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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