Sensex bleeds, Nifty sub-14,500; covid surge triggers lockdown fears

Share market update: Indian stock markets opened in the red on Monday, with Sensex cracking below 48,500, while Nifty fell over 2%. Barring Infosys, all Sensex stocks were in the red. All Nifty sectoral indices, barring Nifty IT index, fell, with Nifty PSU Bank index down over 6%
Flipkart partners with Adani Group to enhance supply, logistics infra

India’s homegrown e-commerce marketplace Flipkart on Monday said it has entered a strategic and commercial partnership with infrastructure company Adani Group to set up a data centre as well as a fulfilment centre.

In a two-pronged partnership, Flipkart will work with Adani Logistics Ltd, which provides end-to-end logistics services and is a subsidiary of Adani Ports & Special Economic Zone Ltd, to strengthen its supply chain infrastructure and enhance its ability to serve its rapidly growing base of customers.

Flipkart will also set up its third data centre at AdaniConneX Pvt Ltd’s Chennai based facility, leveraging AdaniConnes’s data centre technology solutions.
Nifty view: Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

The resistance of 14950-15000 has worked once again, this time fiercely! The markets have taken a severe U-turn and has tested the 14300-14400 support. For the markets to move up, we need to respect this support range and bounce up. 14264 was the recent low recorded and if we break that, the next expected level is 13900.