Benchmark indices towards the close of the session pared their day's losses of over 1 percent. Rising bond yield, weak macros and resurgence in Covid 19 infection have been weighing on the markets. At the close, Sensex was down 397 pts to 50395, while Nifty fell 0.67 percent to 14929. In intra-day trade, Sensex fell to as low as 49799. Broader markets too ended with weakness, with Nifty Midcap 100 declining 0.68%.
All of the Nifty sectoral indices barring IT, PSU Bank and metal were painted red. In intra-day trade Nifty Bank hit an over 1-month low, declining 3 percent intra-day after February CPI hit a 3-month high and IIP witnessed a contraction in January month.
Top gainers on the Nifty in a weak market have been JSW Steel, Tech Mahindra, Tata Steel, Power Grid and IndusInd Bank while laggards include Divis Labs, Hero Motocorp, Bajaj Finserv, Coal India and GAIL.
Shares of MTAR Technologies made a bumper listing today, listing at Rs 1,063.90 on the BSE, a premium of 85.03 per cent over the issue price.
Meanwhile, European markets traded with gains at the time of writing this copy, with French CAC up 0.39 percent. US stock futures also traded with gains indicating positive opening in the US markets.