Elevated bond yields and resurgence in Covid cases have dented sentiments in Mumbai and halted the rally in the share market. Any more negative newsflow on these fronts could act as a further damper, said analysts.
The 30-share pack Sensex rose 7.09 points or 0.01 per cent to close at 49,751.41. The index gyrated in a 667-point range before closing flat. Its broader peer NSE Nifty cracked added 32.10 points or 0.22 per cent to settle at 14,707.80.
“Domestic market got back on its feet during the morning trade supported by a strong Asian market while negative waves from European peers outweighed the gains by the end of the day. The expectation of strong global recovery as prompted by rising international commodity prices helped the market but was tempered due to elevated bond yield & virus cases,” said Vinod Nair, Head of Research at Geojit Financial Services.
Market at a glance
- RIL adds 1% after unveiling plans to hive of petrochemicals business
- Tata Steel, TaMo emerge top blue-chip gainers, up 7% each
- Hindalco gains another 6% as co raises prices for 7th time in a row
- IPO watch: Heranba Industries issue subscribed 67% so far on Day 1
- 199 stocks hit 52-week highs: Vedanta, ONGC, Varun Beverages, Mphasis, Hindalco and Adani Ports among top scrips
