March 11, 2021 10:56:40 am
The Indian stock and money markets will remain shut on Thursday, March 11, 2021, on account of Mahashivratri. They will resume trading on Friday, March 12, 2021.
On Wednesday, the benchmark S&P BSE Sensex had ended 254.03 points (0.50 per cent) higher at 51,279.51, and the broader Nifty 50 on NSE had risen 76.40 points (0.51 per cent) to settle at 15,174.80.
In the currency market, the rupee had ended at 72.91 against the US dollar on Wednesday, registering a rise of 2 paise from its previous close.
Commenting on the Nifty, Subash Gangadharan, Senior Technical & Derivative Analyst at HDFC Securities, in a technical market note wrote, “on the daily chart, the Nifty remains in uptrend and continues to trade above the 20 day SMA. With the Nifty now breaking out of the 14,862-15,111 range, upside targets for the Nifty are at the recent high of 15,273. Crucial support to watch for emergence of weakness are at 15,100.”
“The index is now likely to test the recent high of 15,273. Downside supports to watch for emergence of weakness are at 15,100,” he said.
On the economic front, the market participants will be looking forward to the monthly consumer price index (CPI) and index of industrial production (IIP) data which will be released post-market hours on Friday, March 12, 2021.
📣 The Indian Express is now on Telegram. Click here to join our channel (@indianexpress) and stay updated with the latest headlines
- The Indian Express website has been rated GREEN for its credibility and trustworthiness by Newsguard, a global service that rates news sources for their journalistic standards.