Domestic Stocks Markets fell marginally; Nifty fell 50 points & Sensex ends at 15,313

Domestic stocks markets fell marginally on Tuesday, February 16, 2021, amid profit booking as stocks hit record highs in the previous session. The BSE Sensex closed 49.96 points, or 0.20 per cent, down at 52,104.17 and the NSE Nifty slipped 1.25 points, or 0.01 per cent, to settle at 15,313.45 even as the global cues were positive. The Nifty Bank closed 207.85 points or 0.56 per cent down at 37,098.40.

The broader market at BSE also surged. Outperforming the Sensex, the BSE Mid-Cap index climbed 0.19 per cent and the BSE Small-Cap index gained 0.43 per cent.

The market breadth turned negative. On the BSE, 1,371 shares rose and 1,607 shares fell. On the Nifty 50 index, 26 shares advanced and 24 shares fell. The top five gainers on Nifty 50 were Power Grid (up 6.26 per cent), ONGC (up 4.98 per cent), Tata Steel (up 3.79 per cent), Hindalco (up 3.64 per cent) and NTPC (up 2.78 per cent). The top five losers were ICICI Bank (down 2.34 per cent), Axis Bank (2.30 per cent), Eicher Motors (down 1.63 per cent), Nestle India (down 1.60 per cent) and Tata Motors (down 1.30 per cent).

COVID-19 Update

Total Covid-19 confirmed cases worldwide were at 109,142,162 with 2,407,607 deaths. India reported 136,872 active cases of Covid-19 infection and 155,813 deaths while 106,33,025 patients have been discharged, data showed.

Data of the Commerce Ministry on Exports

India's exports grew 6.16 per cent to $27.45 billion in January 2021, according to data by the Commerce Ministry. Imports grew 2 per cent to about $42 billion, leaving a trade deficit of $14.54 billion during the month, data showed.

International Updates

A foreign brokerage has reportedly upgraded its stance on India to 'overweight' is its Asia Pacific (APAC) model portfolio. India, it believes, looks much better positioned cyclically and relative to the pandemic. Within the Asia Pacific (ex-Japan), the brokerage is now biased towards second-phase Covid recovery markets Korea, India, Australia, Singapore and Hong Kong and away from the early recovery markets (China, Taiwan) and the late-recovery markets in ASEAN.

The mainland Chinese markets were closed for Lunar New Year through Wednesday. Mexico could have space for at least two more interest rate cuts in 2021 if inflation stays in line with expectations, central bank Deputy Governor Gerardo Esquivel said on Friday. The bank cut for the 12th time since August 2019 this week, bringing the benchmark rate to 4 per cent. The unanimous decision led economists to expect more easing in the coming months.