Stock Market Highlights: Sensex Jumps Over 550 Points, Nifty Ends close to 15,100 Led by IT, Banks

The benchmark indices ended in green on March 9, 2021. Nifty closed near 15,100 and the BSE Sensex jumped close to 600 points led by IT & Banking stocks.

At close, the Sensex was up 584.41 points or 1.16 per cent at 51,025.48 and the Nifty was up 142.20 points or 0.95 per cent at 15,098.40. About 1254 shares have advanced, 1693 shares declined and 190 shares remain unchanged.

On the Nifty 50 index, SBI Life Insurance (5.14 per cent), Kotak Mahindra Bank (3.29 per cent), HDFC Bank (2.83 per cent), ICICI Bank (2.80 per cent) and HDFC Ltd. (2.67 per cent) were the top gainers for the day, while BPCL (-4.46 per cent), Tata Steel (-4.14 per cent), GAIL (-3.31 per cent), IOC (-2.94 per cent) and Power Grid Corp. (-1.89 per cent) were the top losers for the day.

On the sectoral front, except Nifty Bank (1.67 per cent) and Nifty IT (0.92 per cent) all other sectoral Nifty indices ended in red led by Nifty Metal (-2.51 per cent).

The BSE Midcap and Smallcap indices were down 0.66 per cent and 0.41 per cent respectively.

Author’s View: Nifty tried to break its resistance, placed at 15,100. Fresh long positions can be initiated after this level is broken decisively for a bullish target of 15,250.

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