DSIJ Mindshare

Activity in the F&O market for the weekly expiry on March 17, 2022, indicates 16,000 to act as support now.  

BSE Smallcap index underperformed broader markets by gaining only 0.31 per cent and closing at 27,226.34.

On Monday, the benchmark indices ended in green for the fifth consecutive session on pulled up by IT, auto and banking names. The equity markets are expected to remain volatile this week due to US Federal Reserve's interest rate decision and the expectations on domestic inflation data. Additionally, Russia and Ukraine tensions still continue. 

Union Minister Nitin Gadkari made an announcement about the assurance of automobile companies to start production of vehicles of flex-fuel variants within six months. Flex-fuel or flexible fuel is an alternative fuel with a combination of gasoline and methanol or ethanol. With the potential ethanol demand growth and higher sugar realisations, the outlook for sugar manufacturers stands strong.   

Among the sectoral indices, Nifty IT, Nifty Bank, and Nifty Media closed higher by over 2% each.