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Markets welcome the March F&O series on a positive note

Midcaps and Smallcaps are also in demand, while the India Vix has declined by 4.5%.

Markets welcome the March F&O series on a positive note. All the sectoral indices are in the green. The Nifty Pharma index has led the upswing followed by PSU Bank index. 10,450-10,470 is crucial resistance zone for Nifty.

Midcaps and Smallcaps are also in demand, while the India Vix has declined by 4.5%.

At 9:20 AM, the Nifty 50 index was at 1,0421.20 points, up 38.50 points or 0.4%, while Sensex was at 33,942.40 points, up 122.90 points or 0.4%.

Shares of pharmaceutical companies rose the most, led by gains in Aurobindo Pharma and Cadila Healthcare. Nifty Pharma index was up 1.4%.

Shares of information technology companies also traded higher on positive outlook by NASSCOM.

Shares of Federal Bank rose 3.3% today after its board approved buying 26% stake in financial services company Equirus Capital.

Shares of Seamec rose 3% today on pact with Kreuz Subsea for supply of diesel.

At global front, key Asian indices advanced today, mirroring the positive trend in the US markets. The Dow Jones Industrial Average and S&P 500 index snapped a two-session losing streak on Friday, led by gains in the shares of energy companies. However, Nasdaq composite fell for the third straight session on Friday.

Sun Pharma (+2.64%), Tata Steel (+1.86%), TechM (+1.73%) and Auro Pharma (+1.64%) were the top gainers on Nifty50.

Infratel (-0.84%), Asian Paints (-0.79%), M&M (-0.69%) and GAIL (-0.47%) were the top losers in today’s trade.

A total of 8 stocks registered a fresh 52-week high in trade today, while 12 stocks touched a new 52-week low on the NSE.