The equity barometers continued to hover near the day's high in afternoon trade. At 13:20 IST, the barometer index, the S&P BSE Sensex, soared 603.51 points or 1.24% at 49,336.06. The Nifty 50 index added 175.25 points or 1.19% at 14,853.05.
HDFC Bank (up 2.58%), ICICI Bank (up 3.55%) and Housing Development Finance Corporation (HDFC) (up 1.91%) boosted the indices.
In the broader market, the S&P BSE Mid-Cap index rose 1.23%. The S&P BSE Small-Cap index gained 1.27%.
Buyers outpaced sellers. On the BSE, 1,970 shares rose and 1,043 shares fell. A total of 211 shares were unchanged.
Foreign portfolio investors (FPIs) sold shares worth Rs 2,607.85 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 613.26 crore in the Indian equity market on 14 May 2021, provisional data showed.
Gainers & Losers:
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IndusInd Bank (up 4.61%), State Bank of India (SBI) (up 4.59%), UPL (up 4.53%) and Bajaj Finserv (up 3.02%) were major gainers in Nifty 50 index.
Cipla (down 2.77%), Larsen & Toubro (L&T) (down 2.02%), Coal India (down 1.43%) and SBI Life Insurance Company (down 1.36%) were major losers in Nifty 50 index.
Nifty Result Today:
Bharti Airtel (down 1.45%) will announce its quarterly result today.
Earning Impact:
SKF India slipped 0.55% after the company's standalone net profit jumped 39.2% to Rs 104.87 crore on 38.9% increase in net sales to Rs 847.53 crore in Q4 March 2021 over Q4 March 2020. Profit before tax (PBT) fell 6.5% to Rs 13.71 crore in Q4 FY21 from Rs 14.66 crore in Q4 FY20.
Stocks in Spotlight:
Hester Biosciences spurted 15.67% after the company announced that it has tied up with the Government of Gujarat and with Omnibrx for manufacturing COVID-19 vaccine. A triparty consortium has been formed between Hester Biosciences, Gujarat Biotechnology Research Centre, Department of Science & Technology, Government of Gujarat and Omnibrx to explore the prospects of manufacturing the COVID-19 vaccine through technology from Bharat Biotech. The Government of Gujarat is the lead partner in the triparty consortium. The discussions are currently on-going with Bharat Biotech towards reviewing the infrastructure at Hester, the technology adaption process and the regulatory compliances. Based on the outcome of the review, the next course of action will be determined.
Camlin Fine Sciences advanced 3.52% after the company said it will purchase 69.33% in AlgalR NutraPharms. On 15 May 2021, a special committee of the board of Camlin Fine Sciences approved strategic investment in AlgalR NutraPharms (AlgalR) by way of acquisition of equity shares amounting to 69.33% of the existing paid‐up share capital. The committee has also approved subscription to the equity shares of AlgalR. Upon consummation of the secondary purchase and primary subscription, the company will hold 80% of the paid‐up capital of AlgalR on a fully diluted basis. The company will now be executing the investment agreement, share purchase agreement and the incidental agreements/documents with AlgalR and its promoters/other shareholders. AlgalR NutraPharms will provide an opportunity to Camlin Fine Sciences for expanding its footprint into the nutraceuticals segment. The company added that the total cost of the said acquisition shall not exceed Rs 6.50 crore. The cost of acquisition stands at Rs 70 per equity share to be executed in cash within a period of 30 days.
Kolte-Patil Developers gained 1.69% after the real estate developer announced the signing of two new projects in Pune under the development management model. The two projects have a combined saleable area of about 1.3 million square feet (msf). The company expects development management (DM) fees of approximately Rs 80 crore.
Economy:
India's April Wholesale Price Index (WPI) inflation stood at 10.49% compared with 7.39% in March 2021. The annual rate of inflation in April 2021 is high primarily because of rise in prices of crude petroleum, mineral oils viz petrol, diesel etc, and manufactured products as compared to the corresponding month of the previous year.
The data released by the Union Ministry of Commerce & Industry on Friday, 14 May 2021, showed that India's exports in April jumped nearly three-fold to $30.63 billion from $10.36 billion in the same month last year. Imports also rose to $45.72 billion last month as against $17.12 billion in April 2020.
Trade deficit widened to $15.10 billion in April 2021 as against $6.76 billion in April 2020. The sharp rise in exports and imports seen in April 2021 was due to a low base in trade volumes in the same period last year as the country was put under a national lockdown to contain the spread of coronavirus. The Commerce secretary has said that there were no major issues on logistics for exporters due to restriction due to COVID-19, adding that sectors, which have done well in FY21, have done some market diversification.
COVID-19 Update:
Total COVID-19 confirmed cases worldwide stood at 16,30,84,128 with 33,79,501 deaths. India reported 35,16,997 active cases of COVID-19 infection and 2,74,390 deaths while 2,11,74,076 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.
India recorded 2.81 lakh fresh cases of coronavirus in last 24 hours taking the total tally of COVID-19 infections to 2,49,65,463, according to the Union health ministry data updated on Monday. On Monday, the daily COVID-19 cases reported in the country fell below the 3-lakh mark for the first time since April 2021.
Though the active cases have been going down in the past few days, the 10 states account for 74.69% of the cases. These states are: Karnataka, Maharashtra, Kerala, Rajasthan, Tamil Nadu, Andhra Pradesh, Uttar Pradesh, West Bengal, Gujarat and Chhattisgarh.
Cyclone Tauktae:
Severe cyclonic storm Tauktae intensified overnight into "very severe cyclonic storm" over eastcentral Arabian Sea, the India Meteorological Department (IMD) has said. 100 rescue teams are deployed for six states - Kerala, Karnataka, Tamil Nadu, Gujarat, Maharashtra and Goa.
IMD has upgraded its Monday alert for Mumbai, Thane and Palghar from green to orange (heavy to very heavy rain at isolated places). Considering the warning about Tauktae, the BMC has cancelled the COVID-19 vaccination drive for Monday across all public centres. The BMC has also warned people against going near the sea.
Global Markets:
European shares declined whi;e Asian stocks were mixed on Monday, 17 May 2021, as investors reacted to the release of Chinese economic data. China's industrial output grew 9.8% in April from a year ago, slower than the 14.1% surge in March, official data showed on Monday. Retail sales rose 17.7% year-on-year in April, down from the 34.2% jump seen in March.
Wall Street closed higher on Friday in a broad rally as signs of a rebounding economy squared off against mounting inflation jitters.
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