Sensex rises 280 pts to end at 50,051; Nifty gains 78 pts to 14,815

The Bank Nifty ended 311.75 points or 0.94 per cent high at 33.318.20
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The Bank Nifty ended 311.75 points or 0.94 per cent high at 33.318.20

Highlights

Domestic equity benchmarks ended with decent gains after a volatile session on Tuesday, March 23, 2021.

Domestic equity benchmarks ended with decent gains after a volatile session on Tuesday, March 23, 2021. The Sensex at the Bombay Stock Exchange rose 280.15 points, or 0.56 per cent, to close at 50,051.44. The Nifty 50 index advanced 78.35 points, or 0.53 per cent, to close higher at 14,814.75. The Nifty Bank gained 580.95 points, or 1.73 per cent, to settle at 34,184.40.

In the broader market, the BSE Midcap index advanced 1 per cent and the Smallcap index added 0.8 per cent.

Buyers outpaced sellers. On the BSE, 1663 shares rose and 1294 shares fell. On the Nifty 50, index, 27 shares advanced and 23 shares declined. The top five gainers on Nifty 50 were Shree Cement (up 4.68 per cent), UltraTech Cement (up 2.70 per cent), Divis Laboratories (up 2.57 per cent), HDFC Bank (up 2.37 per cent), and IndusInd Bank (up 2.32 per cent). The top five losers were Hindalco (down 2.43 per cent), ONGC (down 2.14 per cent), PowerGrid (down 2.06 per cent), GAIL (down 1.86 per cent) and ITC (down 1.77 per cent).

The Supreme Court today refused to extend the six-month loan moratorium period offered by the Reserve Bank of India (RBI) last year, saying that it is a 'policy decision' on the part of the Centre and RBI.

COVID-19 Update

Total Covid-19 confirmed cases worldwide were at 12,36,91,979 with 27,23,315 deaths. India reported 3,45,377 active cases of Covid-19 infection and 1,60,166 deaths while 1,11,81,253 patients have been discharged, data showed.

Union Cabinet on Tuesday approved the vaccination for people above 45 years of age from April 1, 2021. Yesterday, the country saw 46,951 fresh infections, the biggest single-day spike since early November.

As per the Health Ministry data, Maharashtra (24,645), Punjab (2,299), Gujarat (1,640), Chhattisgarh (1,525) and Karnataka (1,445) are the five states with the highest surge in cases in the last 24 hours.

The Multitrillion-dollar economic plan in the US

The Biden administration is reportedly considering a multitrillion-dollar economic plan to follow the stimulus package signed earlier this month.

US, EU, Britain and Canada imposed sanctions on Chinese officials

In a coordinated effort, the US, European Union, Britain and Canada have imposed sanctions on Chinese officials for human rights abuses in Xinjiang. In a statement, ahead of meetings with EU and NATO ministers in Brussels this week, US Secretary of State Antony Blinken said, amid growing international condemnation, China continues to commit genocide and crimes against humanity in Xinjiang. Canada's foreign ministry said, mounting evidence points to systemic, state-led human rights violations by Chinese authorities.

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