MARKET UPDATE:Sensex trading 40 points higher at 50,406 levels while Nifty 10 points up at 14,910 levels
Published On: Wednesday, March 17, 2021 | By: Team KnowMyStock
Indian markets were volatile but managed to eke out minor gains in the early trade today(17th March 2021), tracking mixed cues from Asian peers, as investors weighed the impact of rising cases of Covid-19 in the country, and awaited the outcome of the US Federal Reserve's monetary policy. Among key headline indices, the benchmark S&P BSE Sensex was trading 40 points, or 0.08 percent, higher at 50,406 levels while the NSE's Nifty 50 was at 14,910 levels, up 10 points or 0.07 percent. L&T, GAIL, Tech Mahindra, ITC, and M&M, all up between 1 percent and 2 percent, were the top-performing stocks on the Nifty, while BPCL, Asian Paints, Hindalco, Axis Bank, and HDFC Life, down up to 2.6 percent, were the top laggards.
Individually, shares of SBI Cards slipped over 3 per cent on the BSE after nearly 6 per cent equity changed hands on the stock. According to a Bloomberg report, US private equity fund CA Rover Holdings, an affiliate of Carlyle Asia Partners, was looking to sell stake in SBI Cards and Payment Services worth $514 million or Rs 3,728 crore through a block deal.
BPCL, too, tanked 3 per cent in early deals after the company announced second interim dividend worth Rs 5 per share, as against Street's expectation of Rs 40-50 per share.
In the broader markets, the S&P BSE MidCap index was 0.17 per cent higher, while the S&P BSE SmallCap index was ruling 0.5 per cent up.
Sectorally, the Nifty Pharma, Bank, and Metal indices were trading up to 0.4 per cent lower, while the Nifty FMCG and IT indices gained up to half a per cent.
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