Market LIVE: Sensex up 500 pts, Nifty near 16,750; Banks, IT shares lead

Live market updates: The key benchmark indices were seen holding steady gains in early noon deals on the back of buying interest in banking and IT shares. The benchmarks were up for the fifth straight day amid unpredictable new flows from the overseas . The major focus this week will be on the US Federal Reserve meeting on March 15-16, other than the Ukraine war.
The gained around 500 points, and the was up 120-odd points. Meanwhile, in the neighbouring Asian markets, Hang Seng and Shanghai Composite slumped 3.8 per cent and 1.8 per cent, respectively, following fresh Covid-19 related curbs in China. 
Among the 30 shares, Infosys surged nearly 3 per cent. HDFC Bank, ICICI Bank and SBI were up 2-2.5 per cent each. Wipro, Axis Bank and HCL Technologies were the other prominent gainers. On the flip side, Hindustan Unilever, Tata Steel and Bajaj Finance were the prominent losers.
The broader were seen underperforming the benchmark 30. The Midcap index slipped 0.6 per cent, while the Smallcap was flat. The overall breadth was marginally positive, with around 1,730 stocks advancing versus 1,600 declining stocks on the BSE so far.

Among sectors, the BSE Bankex and IT index soared 1.5 per cent each. Whereas, the Realty index slipped nearly 2 per cent; Metal and Oil & Gas indices were down over a per cent each.

Read More: Market LIVE: Sensex up 500 pts, Nifty near 16,750; Banks, IT shares lead

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