S Ranganathan, Head of Research at LKP Securities:
Markets opened in the red on the back of weak cues and drifted lower on higher WPI and partial lockdown in certain states. However, a spirited rally in Metals & IT stocks in afternoon trade with support from financials helped Indices recoup part of the losses.
March 15, 2021 / 03:50 PM IST
Vinod Nair, Head of Research at Geojit Financial Services:
Weakness in national macro data and rise in global bond yield ahead of the crucial FED monetary policy meeting dented domestic momentum. Both the inflations of retail and wholesale, inclined higher than estimated while industrial production de-grew in January 2021. However, optimism in European & other Asian markets helped to recover from the sharp initial losses. We can expect this volatility to stabilize based on the global outlook post a confirmation from FED to maintain an accommodative policy.
March 15, 2021 / 03:43 PM IST
Rupee Close: Indian rupee has extended the early gains and ended higher by 33 paise at 72.48 per dollar, amid selling saw in the domestic equity market.
It opened higher by 9 paise at 72.72 per dollar against Friday's close of 72.81 and traded in the range of 72.39-72.77.
March 15, 2021 / 03:36 PM IST
Market Close: Indian benchmark indices fell for the second day in a row on March 15 but recovers some of the intraday losses with Nifty finishing above 14,900 mark.
At close, the Sensex was down 397.00 points or 0.78% at 50,395.08, and the Nifty was down 101.50 points or 0.68% at 14,929.50. About 1210 shares have advanced, 1788 shares declined, and 207 shares are unchanged.
Divis Labs, Hero MotoCorp, Coal India, Bajaj Finserv and GAIL were among major losers on the Nifty, while gainers included JSW Steel, Tata Steel, Tech Mahindra, Power Grid Corp and IndusInd Bank.
Among sectors, metal, IT and PSU bank indices ended in the green, while seling witnesse in the auto, infra and pharma sectors. BSE Midcap and Smallcap indices ended 0.5 percent lower.
March 15, 2021 / 03:32 PM IST
Ashis Biswas, Head of Technical Research at CapitalVia Global Research:
The market witnessed some swift recovery from its short-term support around the Nifty50 Index level of 14,800 in the market. The expected level should range between 14,950 and 15,300, and it’s going to crucial for the short-term market scenario to sustain above the 14,800 to keep the long-term uptrend intact. While it is subject to further price action evolution, it is prudent to wait for a decisive breakout above 15,000 and technical factors to improve before going long in the market.
The traders are advised to refrain from building a new buying position until further improvement is seen and a breakout above 15,000.
March 15, 2021 / 03:18 PM IST
BSE Metal Index added 1 percent led by the SAIL, Jindal Steel, JSW Steel, NALCO
March 15, 2021 / 03:10 PM IST
Alkem Labs launches epilepsy drug in India:
Alkem Laboratories announced the launch of Brivasure, an affordable anti-epileptic drug for the treatment of Epilepsy in India, company said in release.
At 15:05 hrs Alkem Laboratories was quoting at Rs 2,692.95, down Rs 79.50, or 2.87 percent on the BSE.
Rupee extends gains, trades near day's high level: Indian rupee has extended the early gains and trading near the day's high level at 72.52 per dollar, amid selling seen in the domestic equity market.
It opened higher by 9 paise at 72.72 per dollar against Friday's close of 72.81.
March 15, 2021 / 02:49 PM IST
Market Updates: Benchmark indices have recovered some losses but still trading lower with Nifty around 14850.
At 14:47 IST, the Sensex was down 655.02 points or 1.29% at 50,137.06, and the Nifty was down 177 points or 1.18% at 14,854. About 982 shares have advanced, 1830 shares declined, and 163 shares are unchanged.