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Indian stock exchanges will remain closed on March 11 due to Maha Shivratri.

Benchmark Indian indices ended higher for the third straight session on March 10, tracking gains from the US market as bond yields pulled back easing concerns about rising inflation.

At close, the Sensex was up 254 points or 0.50% at 51,279, and the Nifty50 was up 76points or 0.51% at 15,174.80. IT, pharma and metal stocks shine.

Bajaj Finance, Sun Pharma, Tech Mahindra, Axis Bank & Bajaj Auto were the top gainers on the Sensex. While ONGC, Kotak Mahindra Bank, ITC, HDFC Bank & Powergrid were the laggards.

On the sectoral indices front, Nifty Metal remained the performer of the day gaining 1.87%, followed by Nifty IT rising 1.67% while Nifty Pharma was up 1.48%.

According to Binod Modi, Head – Strategy at Reliance Securities, domestic equities extended gains for the third consecutive day mainly aided by favourable global cues.

IT, metals and pharma recorded a sharp rebound over 1%, while a strong buying was seen in automobile stocks also.

The broader market outperformed the benchmark as the BSE MidCap index rose 0.77% and BSE SmallCap 0.95%.

Numbers to track

In the commodities market, Brent crude for May 2021 settlement fell 17 cents to $67.35 a barrel. The contract lost 1.06% or 72 cents to settle at $67.52 a barrel in the previous session.

The yield on 10-year benchmark federal paper rose to 6.213% as compared to its previous close of 6.206%.

In the foreign exchange market, the partially convertible rupee fell to 72.97, compared with its previous closing of 72.93.

MCX Gold futures for 5 April 2021 settlement shed 0.21% to Rs 44,762.

The US Dollar index (DXY), which tracks the greenback’s value against a basket of currencies, rose 0.33% to 91.942.

Primary market

The initial public offer (IPO) of Easy Trip Planners was subscribed 159.96 times on the last day of the bidding process till 4 pm.

The issue opened for bidding on Monday, 8 March 2021, and it will close today, 10 March 2021. The price band for the IPO is set at Rs 186-187 per share. An investor can bid for a minimum lot of 80 equity shares and in multiples thereof.

The IPO comprises an offer for sale (OFS) of equity shares aggregating up to Rs 510 crore (including anchor portion of 1,22,72,727 equity shares). The postSensex gains 254 points, Nifty ends above 15,174 issue promoters shareholding in the company would decline to 74.9% from 100%.