Nifty50

"Markets have traded on negatively after facing the resistance at higher levels in the market. Traders have taken the cautious route in the market after a lot of agencies have revised their GDP growth target after the second wave in India," said Gaurav Garg, Head of Research at CapitalVia Global Research.

Heavy selling pressure was witnessed in banking, finance and oil and gas stocks. Around 10.25 a.m., Sensex was trading at 48,717.15, lower by 444.66 points or 0.90 per cent from its previous close of 49,161.81. It opened at 49,171.28 and has so far touched an intra-day high of 49,171.28 and a low of 48,712.42 points.

Manish Hathiramani, technical analyst with Deen Dayal Investments said: "The market has opened with a gap down, but is still maintaining the 14,700 support level. We could work our way through this fall by strategically buying into the index. The risk reward is favorable. If we move up from here, the target should be 15,200 and a close below 14,700 is the stop loss."

Healthy buying activity was witnessed in metal, IT, banking and finance stocks. Sensex opened at 51,207.61 and has so far touched an intraday high of 51,386.12 and a low of 51,057.74 points. The Nifty50 on the National Stock Exchange was trading at 15,149.65, higher by 167.65 points or 1.12 per cent from its previous close.

The Index Maintenance Sub-Committee (IMSC) of NSE Indices decided to make the changes, as part of its periodic review. In Gail's place, Tata Consumer Products will be included in the index from March 31, 2021. Besides, the changes will be effected in Nifty Next50, Nifty500 amongst others.