Benchmark indices ended in the green for the third straight session on March 10. At close, the Sensex was up 254.03 points or 0.50 percent at 51,279.51, and the Nifty was up 76.40 points or 0.51 percent at 15,174.80.
"Domestic markets mirrored positive cues from its global peers, tracking gains from the US market as bond yields pulled back easing concerns about rising inflation. As per the data published by the Federation of Automobile Dealers Association, the retail sales for February grew 10.59 percent year-on-year after reporting a 4.4 percent decline in January, keeping the outlook for the sector intact. However, two-wheeler, three-wheeler and commercial vehicles continued to see sluggish demand. Buying interest was broad-based led by IT, pharma and metal stocks," said Vinod Nair, Head of Research at Geojit Financial Services.
Nifty Pharma, IT, Auto and Metal indices rose a percent each, while some selling seen in the energy names. BSE Midcap and Smallcap indices ended higher.
JSW Steel, Eicher Motors, Tata Steel, Bajaj Finance and Sun Pharma were among top gainers on the Nifty, while losers included SBI Life Insurance, ONGC, IOC, HDFC Life and GAIL.
Stocks & sectors
On the BSE, IT, Healthcare, Capital Goods and Metal indices rose 1 percent each, however, some selling witnessed in the Oil & Gas pack.
A volume spike of more than 100 percent was seen in L&T Infotech, Biocon and BHEL.
Long buildup was seen in L&T Infotech, L&T Technology Services and Mphasis and GAIL while short buildup was seen in Alkem, BHEL and Godrej Properties.
More than 200 stocks, including Quick Heal Technologies, IFCI and Mindtree hit a fresh 52-week high on the BSE.
The Nifty formed a Bearish Hammer like candle on the daily scale with a long lower shadow which indicates declines were being bought.
"Nifty has to decisively hold above 15,150 zones to witness an up move towards 15,300 and 15,431 zones while on the downside immediate support exists at 15,100 then 15,000 levels," said Chandan Taparia of Motilal Oswal Financial Services.Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.