The main equity indices ended with strong gains on Thursday amid positive global cues. The Nifty closed near the 15,750 level. Barring the Nifty Auto index, all sectoral indices on the NSE ended in green.
The barometer index, the S&P BSE Sensex, rose 358.83 points or 0.69% at 52,300.47. The Nifty 50 index gained 102.40 points or 0.65% at 15,737.75.
Bajaj Finance (up 7.29%), Bajaj Finserv (up 3.75%), State Bank of India (up 2.56%) and Infosys (up 0.7%) boosted the indices.
In the broader market, the BSE Mid-Cap index rose 1.26% and the BSE Small-Cap index gained 1.73%. Both these indices outperformed the Sensex.
Buyers outpaced sellers. On the BSE, 2,390 shares rose and 749 shares fell. A total of 152 shares were unchanged.
COVID-19 Update:
Total COVID-19 confirmed cases worldwide stood at 17,44,32,190 with 37,58,217 deaths. India reported 11,67,952 active cases of COVID-19 infection and 3,59,676 deaths while 2,76,55,493 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.
In the last 24 hours, India reported 94,052 COVID-19 cases, and 6,148 deaths in the last 24 hours. This is the highest number of deaths that the country has seen in a day since the start of the pandemic. The jump in deaths come after Bihar revised its toll on Wednesday, adding 3,951 previously uncounted deaths to its tally.
Numbers to Watch:
The yield on 10-year benchmark federal paper rose to 6.020% as compared with 6.016% at close in the previous trading session.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 73.06, compared with its close of 72.97 during the previous trading session.
MCX Gold futures for 5 August 2021 settlement fell 0.46% to Rs 48,900.
The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, rose 0.09% to 90.20.
In the commodities market, Brent crude for August 2021 settlement rose 17 cents at $72.39 a barrel. The contract remained flat at $72.22 a barrel in the previous trading session.
Foreign Markets:
Most shares in Europe and Asia advanced on Thursday. Focus is locked on Thursday's release of U.S. consumer price data and a European Central Bank meeting for further clues about how soon policymakers may begin to withdraw support for Europe's economy rolled out following the COVID-19 crisis.
U.S.-China tensions are in focus, with Joe Biden revoking Trump-era bans on TikTok and WeChat. The president ordered a review of software applications from foreign adversaries and action against those that pose a security risk.
Wall Street stocks ended lower on Wednesday, reversing earlier gains as investors awaited inflation data for clues as to when the U.S. Federal Reserve might tighten its dovish monetary policy.
Buzzing Indian Segment:
The Nifty Auto index fell 0.11% to 10,722.70. The index has fallen 1.39% in two sessions.
Bajaj Auto (down 0.96%), Eicher Motors (down 0.73%), Exide Industries (down 0.67%), Maruti Suzuki India (down 0.41%), Hero Motocorp (down 0.38%) and Motherson Sumi Systems (down 0.22%) declined.
Stocks in Spotlight:
Reliance Industries rose 0.37%. The Fluidized Catalytic Cracker Unit (FCCU) at Reliance Industries (RIL)'s SEZ refinery at Jamnagar had to be taken for an emergency shutdown on 6 June 2021.Consequently, some product shipments might get delayed and the company working to minimize the impact on our customers, RIL said. The FCCU unit is being repaired on top priority and is expected to be restarted expeditiously. All other units at the Jamnagar Refining complex are operating normally,” RIL said in a regulatory filing made after trading hours yesterday.
Divi's Laboratories added 2.58% after US-based drug major Merck announced supply agreement with US government for experimental Covid-19 drug, molnupiravir. Merck, known as MSD outside the United States and Canada, on Wednesday announced it has entered into a procurement agreement with the United States government for molnupiravir (MK-4482). Molnupiravir is currently being evaluated in a Phase 3 clinical trial, for the treatment of non-hospitalized patients with laboratory-confirmed Covid-19 and at least one risk factor associated with poor disease outcomes. Merck is developing molnupiravir in collaboration with Ridgeback Biotherapeutics.
On 26 May 2021, Divi's Laboratories had informed that it has been selected by Merck as an authorized manufacturer for the active pharmaceutical ingredient (API) of molnupiravir. Divi's Labs has been allowed to supply the API to MSD's VL partners in India.
Bata India rallied 4.81%. On a consolidated basis, the footwear maker's net profit dropped 23.28% to Rs 29.47 crore on 4.94% decline in revenue from operations to Rs 589.90 crore in Q4 March 2021 over Q4 March 2020. Profit before tax (PBT) skid 30.59% to Rs 40.38 crore in Q4 FY21 as against Rs 58.18 crore in Q4 FY20. During the financial year, Bata India's consolidated net loss stood at Rs 89.31 crore in FY21 compared with net profit of Rs 328.95 crore in FY20. Revenue from operations tanked 44.09% to Rs 1,708.48 crore in FY21 over FY20.
PTC India Financial Services (PFS) tumbled 5.87% after the company reported consolidated net loss stood of Rs 53.66 crore in Q4 FY21 compared with net profit of Rs 7.05 crore in Q4 FY20. Total income dropped 17.5% to Rs 274.57 crore in Q4 FY21 over Q4 FY20. The company reported pre-tax loss of Rs 30.54 crore in Q4 FY21 as against pre-tax profit of Rs 14.41 crore in Q4 FY20. During the financial year, PTC India Financial Services' consolidated net profit tanked 76.72% to Rs 25.60 crore on 16.81% decline in total income to Rs 1,139.45 crore in FY 2021 over FY 2020.
Adani Enterprises rose 1.07%. On Thursday, Adani Welspun Exploration completed its appraisal cum development of well in the B-9 contract area of Tapti-Daman Sector of Mumbai Off shore. On 15 March 2021, Adani Enterprises had informed about the gas discovery in Mumbai Offshore's Tapti-Daman sector by Adani Welspun Exploration (AWEL), a joint venture company between Adani Group (65% shareholding) and Welspun Enterprises (35% shareholding). AWEL holds 100% participative interest (PI) and is the operator of this block.
JSW Steel added 1.14% after the company's crude steel production grew 10% to 13.67 lakh tonnes in May 2021 as against 12.48 lakh tonnes in May 2020. Production of flat rolled products jumped 10% to 9.99 lakh tonnes while production of long rolled products surged 55% to 3.09 lakh tonnes in May 2021 over May 2020. The capacity utilization remained at 91% in May 2021 as the liquid oxygen supplies were over 30,000 tonnes for medical purposes in May 2021 from the steel complexes of the company across India as against over 20,000 tonnes in April 2021.
MMTC rallied 2.31% after the company's lenders led by State Bank of India approved moratorium on loans and interest repayment. On 8 June 2021, the board of directors of the company approved the implementation and signing of necessary documents regarding outstanding existing financial assistance/credit facilities restructuring scheme approved by banks of MMTC. Under the said scheme, the company has received moratorium/deferment on recovery of interest for credit facilities upto December 2021/March 2022 and for principal upto March 2022 by different banks. The final settlement is envisaged out of divestment proceeds of Neelachal Ispat Nigam (NINL). It may be affected by cases/ Anglo Coal, government directives and COVID-19 pandemic situation etc.
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