The benchmark indices firmed up further in afternoon trade. At 13:20 IST, the barometer index, the S&P BSE Sensex, rose 58.11 points or 0.11% at 52,376.71. The Nifty 50 index gained 14 points or 0.09% at 15,694.
Reliance Industries (RIL) (up 1.28%), ICICI Bank (up 1.44%) and State Bank of India (SBI) (up 0.86%) boosted the indices.
In the broader market, the S&P BSE Mid-Cap index fell 0.02%. The S&P BSE Small-Cap index rose 0.92%.
Buyers outpaced sellers. On the BSE, 1,909 shares rose and 1,218 shares fell. A total of 133 shares were unchanged.
Foreign portfolio investors (FPIs) sold shares worth Rs 1,245.29 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 880.60 crore in the Indian equity market on 1 July 2021, provisional data showed.
COVID-19 Update:
More From This Section
Total COVID-19 confirmed cases worldwide stood at 18,26,45,084 with 39,55,756 deaths. India reported 5,09,637 active cases of COVID-19 infection and 4,00,312 deaths while 2,95,48,302 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.
India on Friday, 2 July 2021 reported 46,617 new cases and 853 deaths, as per health ministry's updated data. Total recoveries have jumped to 59,384.
Gainers & Losers:
UPL (up 1.60%), Divi's Laboratories (up 1.60%), Adani Ports & Special Economic Zone (APSEZ) (up 1.56%), Titan Company (up 1.54%) and ICICI Bank (up 1.44%) were major gainers in Nifty 50 index.
Tata Steel (down 1.37%), Britannia Industries (down 1.25%), JSW Steel (down 1.16%), Tata Consultancy Services (TCS) (down 1%) and Power Grid Corporation of India (down 0.91%) were major losers in Nifty 50 index.
Stocks in Spotlight:
NCC advanced 2.92% after the company said it has received five new orders totaling to Rs 2,149 crore in June 2021. Out of the total orders, two orders are valued at Rs 1,254 crore pertains to water & environment division, one order of Rs 729 crore pertains to buildings division and one order worth Rs 166 crore pertains to Mining division. These orders are received from PSU/ Central/ State Government agencies and do not include any internal orders.
Sagar Cements gained 1.35% after the company said its board approved a 5-for-1 stock split. The company's board has approved a proposal to split equity shares from their existing face value of Rs 10 each in to the face value of Rs 2 per share. The board has also approved for the re-appointment of Dr. S. Anand Reddy and S. Srekanth Reddy as managing director (MD) and joint managing director respectively for a further period of three years and this approval is subject to further approval of our shareholders to be obtained at their ensuing AGM.
Edelweiss Financial Services rallied 2.15% after the company announced the divestment of its stake in Edelweiss Gallagher Insurance Brokers (EGIBL). Arthur J. Gallagher & Co. ("AJG"), who previously held 30% in EGIBL, will now be acquiring all the remaining shares, taking its stake to 100%. The transaction is subject to approvals by the Insurance Regulatory and Development Authority of India.
Cadila Healthcare fell 0.08%. The pharmaceutical major, on Friday, 2 July 2021, announced that it has received final approval from the US drug regulator to market emtricitabine and tenofovir disoproxil fumarate tablets. The drug is used with other HIV medications to help control HIV infection. It helps to decrease the amount of HIV in one's body so that the immune system can work better. Cadila Healthcare said the drug will be manufactured at the group's formulation manufacturing facility at SEZ, Ahmedabad (Gujarat).
Global Markets:
European shares advanced while Asian markets traded mixed on Friday, 2 July 2021, as investors turned cautious ahead of the U.S. jobs report set to be released later in the day today.
In Europe, German retail sales figures for May and Euro zone's producer prices data for the month of May are due before the bell today.
The S&P 500 reached its sixth consecutive all-time closing high on Thursday, as a new quarter and the second half of the year began with upbeat economic data and a broad-based rally.
The number of Americans applying for unemployment aid fell again last week. The Labor Department reported Thursday that jobless claims dropped by 51,000 to 364,000.
The International Monetary Fund raised its 2021 U.S. growth projection sharply to 7% due to a strong recovery from the COVID-19 pandemic and an assumption that much of President Joe Biden's infrastructure and social spending plans will be enacted.
The IMF's latest forecast, marking the fastest U.S. growth pace since 1984, compares with an April projection of 4.6% growth in 2021. The Fund raised its 2022 U.S. GDP growth forecast to 4.9%, up from its previous 3.5% April forecast.
On Thursday, following two days of talks, 130 countries pledged support for the U.S. proposal of a global minimum corporate tax of 15%.
Powered by Capital Market - Live News