Sensex ends choppy day 111 pts up; Mid-, small-cap indices hit record peaks

The BSE MidCap index touched a new record high level of 21,717 while the BSE SmallCap index hit 23,338

3:41 PM

Sensex Heatmap at Close

Top gainers: SBI, L&T, ITC

Top losers: IndusInd Bank, UltraTech Cement, Titan

3:34 PM

CLOSING BELL

Amid this global set up, the BSE barometer of 30-shares settled 111 points, or 0.2 per cent, higher at 50,652 levels while the broader Nifty50 index closed at 15,198 levels, up 22 points or 0.15 per cent. Both the indices hit intra-day highs of 50,857 and 15,256, respectively. 

3:29 PM

Commodity corner :: Yash Sawant, research associate at Angel Broking on Base Metals

Power curbs in China’s Yunnan province, a home to major Zinc smelters, forced smelters to trim production which dented demand for zinc concentrate inturn pushing Zinc TC’s higher.

 

The Spot Treatment charges (TC’s) for Zinc in top consumer China which hovered near $70 per tonne climbed to $95 a tonne last week (assessed by Asian Metal), increasing over 35 percent following low concentrate demand by Chinese smelters.

 

As per reports, the Yunnan province which also accounts for about one tenth of China's Aluminium output has directed the local metal producers to limit their electricity consumption in order to comply with China’s energy consumption targets for 2021 which might hamper their operational activities and raise severe supply threats.

 

However, Industrial metals continued to trade lower across borders in the early half of today’s session as China’s move to cap the rising Commodity prices remains the point of concern for Global investors. Chinese regulators have vowed to keep a check on their commodity market, increase scrutiny for both futures and spot markets and restrict irregularities and malicious speculation

3:18 PM

States to receive 4.8 mn Covid vaccine doses in next three days: Centre

More than 1.80 crore COVID-19 vaccine doses are still available with the states and UTs and they will receive over 48 lakh doses in the next three days, the Union Health Ministry said on Monday.

 

The Centre has so far provided, both through the free of cost category and through direct state procurement category, more than 21.80 crore vaccine doses to states and UTs. READ MORE

3:05 PM

BREAKING :: BSE m-cap hits $3 trillion-mark for the first time

3:04 PM

HEG surges 10%, nears 52-week high ahead of March quarter results

Shares of HEG edged higher by 10 per cent to Rs 2,398.65 on the BSE in intra-day trade on Monday ahead of the January-March quarter (Q4FY21) results later this week. The stock of graphite electrodes manufacturer was hovering close to its 52-week high levels of Rs 2,564 touched on April 9, 2021, in intra-day trade. At 02:42 pm, the stock was up 9.8 per cent at Rs 2,393 as compared to a 0.44 per cent gain in the S&P BSE Sensex. The trading volumes on the counter jumped over three-fold with a combined 1.1 million equity shares having changed hands on the NSE and BSE at the time of writing this report. READ MORE

2:57 PM

Heatmap: S&P BSE Sensex gainers and losers at this hour

2:53 PM

Global markets :: Dow Jones Futures gains around 150 pts

2:40 PM

Bata India, Escorts: Trading strategies for mid-cap losers of 2021

MidCap stocks have been on a roll in 2021 as cheap valuations attract investors towards the segment. The S&P BSE MidCap index hit a fresh record high of 21,717 in the intra-day deals today, surging 1 per cent on the BSE. In comparison, the benchmark S&P BSE Sensex was up 0.22 per cent at 1:50 PM. So far in CY21, the MidCap index has zoomed nearly 20 per cent at the bourses, as against a 5.8 per cent gain in the frontline 30-share index. READ MORE

2:38 PM

COMMODITY VIEW :: GOLD

Gold steadied near the highest level in more than four months amid weaker dollar and pullback in U.S. yields showing the investors increased optimism on the precious metal. The dollar stood near its lowest levels in three months; whereas U.S. 10 year yields were hovering near a week low. The Fed has kept their focus on attaining better job data, although now few fed officials have begun lowering expectations for May jobs growth in the U.S. as business hiring plans continue to outrun supply of people able or willing to work. Economic calendar is muted for the day, although focus will remain on the U.S. consumer confidence and GDP data scheduled later this week. Holdings of SPDR Gold, rose 0.6% to 1042.92 tonnes on Friday. Broader range on COMEX could be between $1865- 1900 and on the domestic front prices could hover in the range of Rs 48,400- 48,900.

-- Navneet Damani, VP – Commodities Research, Motilal Oswal Financial Services

2:32 PM

SpiceJet gets relief on aircraft lease default case in British court

A UK court has asked Irish aircraft lessor Goshawk and Indian low cost airline SpiceJet to mutually mediate the payment despite recognising that the airline has defaulted on payment of lease. Goshawk and its trustees had sued SpiceJet for around $16.2 million, which they said SpiceJet has been unable to pay. In the summary judgement, the court despite ruling that Goshawk is right in claiming the amount, refused to take any action against SpiceJet on the grounds that forcing the airline to pay at this stage could result in the airline’s insolvency, which wouldn't be in Goshawk's interests. READ MORE

 

2:22 PM

Banks in India report loan fraud worth Rs 5 trn, SBI's amount largest

Banks operating in India reported fraud of Rs 4.92 trillion as on March 31, 2021, which represents nearly 4.5% of the total bank credit, showed Reserve Bank of India (RBI) data, which was sought under the Right to Information (RTI) Act by Saurabh Pandhare.

 

The data showed 90 banks and financial institutions reported a total of 45,613 cases of loan fraud till March 31, 2021.

 

State Bank of India – the country’s largest lender – reported the highest amount of loans as fraud - Rs 78,072 crore as on March 31, 2021. SBI is followed by Punjab National Bank (Rs 39,733 crore), Bank of India (Rs 32,224 crore), and Union Bank of India (Rs 29,572 crore). READ MORE

2:13 PM

Larsen & Toubro trades higher for third straight day, up 5% in a week

Shares of Larsen & Toubro (L&T) were trading higher for the third straight day, up nearly 3 per cent at Rs 1,458 on the BSE in intra-day trade on Monday. The stock of the engineering and construction giant has gained 5 per cent in the past one week as compared to a 2 per cent gain in the S&P BSE Sensex. It was quoting at its highest level since March 18, 2021. READ MORE

2:04 PM

NEWS ALERT | Canara Bank to consider fundraising on May 28

-- Fundraising via QIP/FPO/Rights Issue/Preferential Issue or any other mode

1:57 PM

European markets check

(Source: Reuters)