Market breadth turns negative; Nifty below 15,300

Indices came off the day's high amid profit taking. The Nifty slipped below the crucial 15,300 mark. At 14:28 IST, the barometer index, the S&P BSE Sensex, was up 511.41 points or 0.99% at 52,055.71. The Nifty 50 index added 126.85 points or 0.84% at 15,290.15.

The BSE Sensex hit a new record high of 52,177.50 while the Nifty index touched 15,326.60 in afternoon trade.

The broader market was trading firm. The S&P BSE Mid-Cap index rose 1.51% while the S&P BSE Small-Cap index gained 0.51%.

The market breadth turned negative. On the BSE, 1,400 shares rose and 1,568 shares fell. A total of 163 shares were unchanged.

Foreign portfolio investors (FPIs) sold shares worth Rs 37.33 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 597.62 crore in the Indian equity market on 12 February 2021, provisional data showed.

COVID-19 Update:

Total COVID-19 confirmed cases worldwide stood at 10,88,12,222 with 23,99,793 deaths. India reported 1,39,637 active cases of COVID-19 infection and 1,55,732 deaths while 1,06,21,220 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.

Economy:

The rate of inflation, based on monthly wholesale Price Index (WPI), stood at 2.03% (provisional) for the month of January 2021 (over January 2020) as compared to 3.52% during the corresponding month of the previous year. All commodities index stood at 2.03% in January 2021 as against 1.22% in December 2020 and 2.29% in November 2020. Food index was at (0.26%) in January 2021 from 0.92% in December 2020 and 4.79% in November 2020.

India's retail inflation, which is measured by the Consumer Price Index (CPI), eased to 4.06% in the month of January 2021. The retail inflation during the month of December 2020 was at 4.59%.

Separately, the country's factory output, measured in terms of the Index of Industrial Production (IIP), witnessed a growth of 1% in December 2020, two separate data released by the Ministry of Statistics & Programme Implementation (MoSPI) showed on Friday. The IIP had grown 0.4% in December 2019, the data showed.

Buzzing Index:

The Nifty IT index slipped 0.26% to 26,024.7, snapping its three-day winning run. The index rallied 1% in three days.

TCS (down 1.5%), Tech Mahindra (down 0.98%), Wipro (down 0.79%) and HCL Technologies (down 0.77%) were top losers in IT segment.

Numbers to Track:

In the foreign exchange market, the partially convertible rupee appreciated to 72.5975 compared with its previous closing of 72.755.

The yield on 10-year benchmark federal paper rose to 6.015% from its previous closing of 5.99%.

MCX Gold futures for 5 April 2021 settlement slipped 0.09% to Rs 47,275.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, fell 0.15% to 90.332.

In the commodities market, Brent crude for April 2021 settlement rose 83 cents to $63.26 a barrel. The contract increased 2.11% to settle at $62.43 in the previous trading session.

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