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Sensex rises 254 points, ends higher for third session as easing bond yields boost global markets

Top Sensex gainers were Bajaj Finance, Sun Pharma, Tech Mahindra, Axis Bank, Bajaj Auto and Infosys shares rising up to 2.34% today

Aseem Thapliyal | March 10, 2021 | Updated 17:46 IST
Sensex rises 254 points, ends higher for third session as easing bond yields boost global markets
ONGC, Kotak Bank, ITC, HDFC Bank, PowerGrid, Reliance Industries and Maruti shares were the top Sensex losers falling up to 2.05%.

Sensex and Nifty closed higher for the third consecutive session today on rebound in broader Asian markets as fall in bond yields calmed global market sentiment. While Sensex gained 254 points to 51,279, Nifty rose 76 points to 15,174.  Of 30 Sensex stocks, 23 ended in green. In last three sessions, Sensex has gained 874.19 points or 1.73 per cent. Nifty has clocked gains of 276.70 points or 1.85 per cent in last three days.

Top Sensex gainers were Bajaj Finance, Sun Pharma, Tech Mahindra, Axis Bank, Bajaj Auto and Infosys shares rising up to 2.34% today. ONGC, Kotak Bank, ITC, HDFC Bank, PowerGrid, Reliance Industries and Maruti shares were the top Sensex losers falling up to 2.05%.

Of 30 Sensex shares, 23 ended in the green. BSE metal, IT, teck, healthcare, basic materials and consumer durables indices rose up to 1.82 per cent.

BSE auto index too rose 0.82 per cent on encouraging sales data. Passenger vehicle sales rose 17.92 per cent to 2,81,380 units in February compared with same month last year, auto industry body SIAM said on Wednesday.

Stock Market highlights: Sensex ends 254 pts higher; Bajaj Finance, Sun Pharma, Tech Mahindra top gainers

Oil and gas, utilities, energy and power sector stocks were the top losers.

Smallcap, midcap and largecap indices outperformed the benchmark by rising up to 0.95 per cent in trade today.

Market cap of BSE listed firms rose to Rs 209.26 lakh crore today.

Vinod Nair, Head of Research at Geojit Financial Services said, "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."

Market breadth was positive with 1, 629 stocks rising against 1350 ending lower on BSE. Total 178 stocks were unchanged. On the currency front, rupee rose by 2 paise to settle at 72.91 against the US dollar.

Bajaj Finance, Sun Pharma, Tech Mahindra, Eicher Motors shares rise up to 2.34%, top gainers today

Sahaj Agrawal, Head of Research- Derivatives at Kotak Securities said,"Nifty50 larger trend remains positive; in the market near term expect resistance of 15600 and support/buying zone seen at 14950-15000. Any correction is expected to provide meaningful buying opportunity. Remain positive on IT and FMCG; select NBFC stocks are showing strong momentum."

Global markets

Global stocks were mixed Wednesday after Wall Street rose on a rally for major tech companies. In early trading, the FTSE 100 in London rose 0.6% to 6,686.70 and Frankfurt's DAX added 0.1% to 14,420.95. The CAC 40 in Paris advanced less than 0.1% to 5,920.13.

In Asia, the Shanghai Composite Index ended down less than 0.1% at 3,357.14 after spending most of the day in positive territory.

The Nikkei 225 in Tokyo advanced less than 0.1% to 29,036.56. The Hang Seng in Hong Kong added 0.5% to 28,907.52.

The Kospi in Seoul lost 0.6% to 2,958.12 while Australia's S&P-ASX 200 slid 0.8% to 6,714.10.

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