Stock Market Highlights: Sensex falls 562 points dragged by metal, financial stocks

The benchmark indices closed near the day’s low on March 17, 2021, dragged by Metal, Real Estate and Energy stocks.

At close, the Sensex was down 562.34 points or 1.12 per cent at 49,801.62 and the Nifty was down 189.20 points or 1.27 per cent at 14,721.30. About 818 shares have advanced, 2115 shares declined and 138 shares remain unchanged.

On the Nifty 50 index, ITC (1.32 per cent), Infosys (0.22 per cent), HDFC (0.21 per cent) and TCS (0.09 per cent) were the top and only gainers for the day, while ONGC (-5.00 per cent), BPCL (-4.80 per cent), Tata Motors (-4.42 per cent), Adani Ports (-4.06 per cent) and Coal India (-4.02 per cent) were the top losers for the day.

On the sectoral front, all the sectoral indices ended in the red. Nifty PSU Bank (-3.77 per cent), Nifty Energy (-3.11 per cent), Nifty Realty (-2.96 per cent) and Nifty Metal (-2.46 per cent) were the top losing sectors that dragged the index down.

The BSE Midcap and Smallcap indices lost -2.28 per cent and 2.12 per cent respectively.

Author’s View: The current range for Nifty lies between 14,700 – 15,300. A breakout on either side will determine the direction of the market.

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