Sunday, February 28, 2021

Markets that have faltered amid volatility

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Prime Time Zone, Webdesk: Domestic equity markets ended in losses. Metal stocks rallied better but IT sector stocks declined. Stock markets, which opened at the same level on Tuesday after huge gains on Monday, have been volatile since then. Market analysts believe that slight losses are inevitable as selling pressure increases after the mid-session. At the close, the Sensex was down 49.96 points at 52,104 and the Nifty was down 1.25 points at 15,313.

The IT sector fell 1.5 per cent in the Nifty, while the private sector, finance, FMCG and media sectors declined. Metal, public sector banks and pharma sectors have rallied. Shares of Powergrid and ONGC rallied more than 5 per cent in the Sensex, while NTPC, Kotak Bank, Reliance and Maruti Suzuki gained. Axis Bank, ICICI Bank, Infosys, Nestle India and SBI were among the losers. Rupee exchange rate against US dollar Is at 72.59. The rupee strengthened by 9 paise against the dollar in early trade on Tuesday on a rally in equities markets.

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Markets that have faltered amid volatility