D-St cheers drop in Covid cases; Sensex up 296 pts; pharma, metal stks gain

India VIX eased nearly 3 per cent to 20.23 levels

3:43 PM

Sensex Heatmap at Close

3:35 PM

CLOSING BELL

Domestic equity indices started gap-up and remained park near day's high level for better part of the day. Among the frontline indices, the BSE barometer for 30-share hit an intra-day high of 49,617 before ending the session at 49,502 levels, up 296 points or 0.6 per cent. 

 

On the NSE, the Nifty50 index reclaimed the crucial 14,900-mark and extended it rally to as high as 14,967 during the day. It ended the day at 14,942 levels, up 119 points or 0.8 per cent.

3:25 PM

Iron ore turns 'very hot' as 10% surge adds to commodities boom

While market participants struggled to pinpoint a trigger for Monday’s gains in iron ore, they cited several ongoing trends including optimism that central banks will retain supportive policies even as the global economy recovers. Expectations China will tighten environmental rules have added to the bull case for copper -- seen as vital to the green energy transition -- and fueled speculation that steelmakers may front-load iron ore purchases before new curbs kick in. READ MORE

3:12 PM

MARKET COMMENT :: Narendra Solanki, Head- Equity Research (Fundamental) at Anand Rathi

Indian markets opened on a positive note following positive trade in Asian markets peers which traded broadly higher shrugging off the weaker-than-expected April U.S. jobs reports. During the afternoon session markets maintained its positive momentum with healthy buying observed in blue-chip stocks like Sun Pharma, Dr. Reddys Lab and ONGC along with mid and small cap stocks. Sentiments got a boost as Union Health Ministry stated that India is the fastest country globally to administer 17 crore COVID-19 vaccine doses. Traders also ignored report that foreign investors have pulled out Rs 5,936 crore from the Indian equities in the first week of May amid worries over the intense second wave of coronavirus infection and its fallout on the economy.”

3:00 PM

The stock of this broking firm has zoomed 101% in a month

Shares of Angel Broking, on Monday, were locked in 10 per cent upper circuit at Rs 612.50 on the BSE, with only buyers seen on the counter. In the past one week, the stock has zoomed 61 per cent, after the company reported a healthy 39 per cent quarter-on-quarter (QoQ) jump in its consolidated net profit at Rs 102 crore in the March quarter (Q4FY21) on the back of strong operational income. READ MORE

 

2:53 PM

LIC's holding in listed companies at all time low on profit booking

LIC's holding across 296 companies where its holding is more than 1 per cent slipped to an all-time low of 3.66 per cent as on March 31, 2021, down from 3.70 per cent as on December 31, 2020 and from all-time high of 5 per cent as on June 30, 2012, as per primeinfobase.com, an initiative of PRIME Database Group. According to Pranav Haldea, Managing Director, Prime Database Group, this was on account of profit booking by India's largest institutional investor. READ MORE

2:42 PM

Why are domestic & foreign institutional investors gung ho on this insurer?

The growth prospects for the industry remain robust, underscored by the latest data.

 

In April, the insurance industry posted Annual Premium Equivalent (APE) growth - a measure of new business sales growth in the insurance industry growth - of 70 per cent YoY, coming off a low base with private insurers growing 80 per cent and LIC at 57 per cent. In terms of market share, SBI Life was the major gainer as it added around 300 bps YoY in APE market share during April, shows a report by JM Financial. READ MORE

2:31 PM

Recovery from intra-day lows in today's trade

COMPANY	DAY'S LOW(RS)	DAY'S HIGH(RS)	LATEST(RS)	RISE(%)
SPARC	187.40	221.75	221.75	18.33
GHCL	238.90	272.25	270.35	13.16
GMM Pfaudler	4048.25	4685.00	4550.00	12.39
Indbull.RealEst.	78.75	88.55	88.10	11.87

2:15 PM

Sugar stocks extend rally; Dhampur, Dwarikesh soar over 70% in a month

Shares of sugar manufacturers and their allied companies continued their northward movement, ralling up to 75 per cent in the past one month on positive outlook, on Monday. The sugar industry, analysts say, is well poised to benefit from, both, global and domestic factors such as tight global demand-supply situation, favourable policies, push for higher ethanol blending in India and higher ethanol capacity addition. READ MORE

 

2:04 PM

MARKET UPDATE:: HDFC, ICICI Bank, & Larsen & Toubro among top contributors to Sensex's gain today

1:57 PM

Eli Lilly signs deals to boost supply of Covid-19 treatment in India

Eli Lilly and Co said on Monday it had signed licensing agreements with three Indian generic drugmakers to expand the availability of its arthritis drug baricitinib in the country for treating COVID-19 patients.

 

The agreements will bolster India's arsenal of drugs to battle its catastrophic second wave of the pandemic, which has led to an acute shortage of coronavirus medicines including remdesivir and tocilizumab. READ MORE

1:56 PM

European markets check

(Source: Reuters)

1:46 PM

March Quarter Results :: Zydus Wellness reports PAT at Rs 133 crore vs Rs 69 cr YoY

>> Consolidated revenue at Rs 605 crore vs Rs 477 cr YoY

>> Cons Ebitda at Rs 145 cr vs Rs 95 cr YoY

>> Ebitda margin at 24% vs 19.8% YoY

1:37 PM

Sharp up move in Macrotech Developers

1:23 PM

BUZZING STOCK:: SPARC hits 20% upper circuit