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Nifty reclaims 14,600 mark; breadth remains weak

The benchmark indices pared losses in afternoon trade as buying emerged at lower levels. At 13:20 IST, the barometer index, the S&P BSE Sensex, dropped 956.03 points or 1.91% at 49,073.80. The Nifty 50 index skid 264.05 points or 1.78% at 14,603.30. A spike in domestic coronavirus cases and fresh curbs imposed by the state government dented investors sentiment. ICICI Bank (down 3.70%), HDFC (down 3.15%) and HDFC Bank (down 2.37%) were major drags. Selling was broad based. The S&P BSE Mid-Cap index fell 1.40%. The S&P BSE Small-Cap index slipped 1.26%. Sellers outnumbered buyers. On the BSE, 834 shares rose and 1,988 shares fell. A total of 186 shares were unchanged. COVID-19 Update:

Sensex tanks 1126 pts; India VIX surges 14%

The key equity indices tanked in morning trade as banks and financial shares witnessed steep selling. IT shares bucked weak market trend. The Nifty slipped below the 14,600 mark. A spike in domestic coronavirus cases and fresh curbs imposed by the state government dented investors sentiment. At 10:26 IST, the barometer index, the S&P BSE Sensex, was down 1126.01 points or 2.25% to 48,903.82. The Nifty 50 index tumbled 345.25 points or 2.32% to 14,522.10. Infosys (up 0.91%), HCL Technologies (up 0.25%) and TCS (up 0.16%) were the only index constituents currently holding in the green. The NSE s India VIX, a gauge of market s expectation of volatility over the near term, surged 14.14% to 22.82.

Covid resurgence subdues India s manufacturing sector s output: PMI

Covid resurgence subdues India s manufacturing sector s output: PMI
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View: How India can address issues that may dent its post-Covid growth

View: How India can address issues that may dent its post-Covid growth SECTIONS View: How India can address issues that may dent its post-Covid growthBy Bibek Debroy & Aditya Sinha, Last Updated: Mar 13, 2021, 11:00 PM IST Share Synopsis ​​Real growth comes from four different sources consumption, investment, government expenditure and net exports. Since there is a lot of uncertainty around the external sector, if India has to grow, it must rely primarily on consumption, investments and government expenditure. Agencies Despite the optimism, it is essential to address the challenges that may impact a sustained nature of growth. The OECD has recently pegged India’s growth rate for 2021-22 at 12.6%, 4.7% higher than previous projections. Most external agencies have a very positive outlook for the Indian economy in FY 2021-22, after a significant contraction in FY 2020-21.

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