Market Performance in March 2021

Market Performance in March 2021
by Nikita Bhoota 07/04/2021

Market Update:
Indian markets witnessed volatility during the month as risk-off sentiments affected the emerging economies

Nifty 50 edged up 1.1%, while BSE Sensex rose 0.8% on MoM basis in March 2021
Mid and small cap indexes outperformed large cap indexes due to retail investors’ continued interest in the broader market

FIIs bought ₹19,124cr (vs. ₹19,747cr bought MoM) in Indian equities, while DIIs bought ₹2,476cr worth of equities (vs. ₹16,306cr sold MoM) during the month

Fixed Income Market

During March month, India’s 10-year bond yields were almost flat at around 6.18% on stable FII flows amid signs of economic recovery

Meanwhile, the Govt. unveiled a very aggressive borrowings plan to auction ₹7.24 trillion ($99 billion) of bonds in the first half of FY22

The World Bank raised its forecast of India’s FY22 growth to 10.1% (vs. its earlier forecast of 5.4%) as it feel country's vaccination drive and Govt’s infrastructure push in the national budget can aid growth momentum and revive domestic demand

Stock Performance:
The market witnessed huge volatility in March 2021. Below are the top 5 gainers and losers on Nifty50 in March 2021.

Gainers

Company Name 01 March 2021 31 March 2021 Gain/Loss
JSW Steel Ltd. 405 469 15.60%
Grasim Industries Ltd. 1,266 1,451 14.60%
Hindustan Unilever Ltd. 2,143.40 2,431.50 13.40%
Tata Steel Ltd. 730.4 811.9 11.20%
UPL Ltd. 590.6 641.9 8.70%

Source: Ace Equity

Coal India Ltd.
The stock plummeted 15.5% in March 2021 as Coal India‘s production in February fell 6.6% to 61.9 million tonnes against 66.2 mt in February 2019.

Hero MotoCorp Ltd.
The stock fell 13% in the same month as the company will make an upward revision in the ex-showroom prices of its motorcycles and scooters, with effect from April 1, 2021, in order to partially offset the impact of higher commodity costs.

Other stocks that were top losers on Nifty50 were Oil & Natural Gas Corporation Ltd, IndusInd Bank Ltd and Indian Oil Corporation Ltd.

Disclaimer: The above report is compiled from information available on the public platforms. These are not buy or sell recommendations.

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