Sensex trades below 50,000, Nifty holds 14,800

The benchmark indices were trading in a narrow range with small gains in afternoon trade. At 13:10 IST, the barometer index, the S&P BSE Sensex, rose 111.35 points or 0.22% at 49,961.19. The Nifty 50 index gained 64.05 points or 0.43% at 14,825.60.

Gains in Infosys (up 1.55%), TCS (up 1.73%) and Mahindra & Mahindra (M&M) (up 4.59%) supported the indices.

The broader market outperformed the benchmark indices. The S&P BSE Mid-Cap index added 0.92%. The S&P BSE Small-Cap index rose 0.96%.

Buyers outpaced sellers. On the BSE, 1,628 shares rose and 1,190 shares fell. A total of 182 shares were unchanged.

Foreign portfolio investors (FPIs) bought shares worth Rs 125.15 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 194.88 crore in the Indian equity market on 1 March 2021, provisional data showed.

COVID-19 Update:

Total COVID-19 confirmed cases worldwide stood at 11,44,41,348 with 25,38,681 deaths. India reported 1,68,358 active cases of COVID-19 infection and 1,57,248 deaths while 1,07,98,921 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.

Gainers & Losers:

Tata Motors (up 4.42%), Hero MotorCorp (up 3.67%), Wipro (up 3.52%) and Bajaj Auto (up 2.78%) were major gainers in Nifty 50 index.

ONGC (down 3.03%), HDFC (down 2.11%), PowerGrid Corporation of India (down 1.43%) and ICICI Bank (down 0.95%) were major losers in Nifty 50 index.

Stocks in Spotlight:

UPL slipped 1.36%. UPL announced a long-term strategic collaboration with FMC Corporation, which provides UPL access in key markets prior to patent expiration, to commercialize FMC Corporation's leading insecticide, Rynaxypyr active.

Adani Ports and Special Economic Zone (APSEZ) gained 1.18% after the company said that it handled cargo volume of 21.12 million metric tonnes (MMT) in February 2021, registering a growth of 8% on year-on-year (Y-o-Y) basis. This includes cargo volume of 2.95 MMT handled at Krishnapatnam Port, the company said in a regulatory filing made during market hours today.

Similarly, till February 2021, APSEZ handled cargo of 221.26 MMT a growth of 8% on year-on-year basis. This includes cargo volume of 16.57 MMT handled at Krishnapatnam port from the date of acquisition i.e. October 2020.

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