The benchmark indices scaled another all-time high during afternoon trade. The indices experienced a major recovery, bouncing back from morning's losses. The Nifty index broke into 16,300 level.
At 13:20 IST, the barometer index, the S&P BSE Sensex, surged 293.32 points or 0.54% at 54,663.09. The Nifty 50 index soared 76.80 points or 0.47% at 16,335.60. The S&P BSE Sensex scaled a new all-time high of 54,668.58 while the Nifty 50 index hit 16,337.65 during intraday trade.
Reliance Industries (RIL) (up 1.93%), Bharti Airtel (up 7.13%) and HDFC Bank (up 1.51%) boosted the market.
Broader markets underperformed the benchmark indices. The S&P BSE Mid-Cap index fell 0.43%. The S&P BSE Small-Cap index lost 0.62%.
Sellers outnumbered the buyers. On the BSE, 1,001 shares rose and 2,131 shares fell. A total of 119 shares were unchanged.
Foreign portfolio investors (FPIs) bought shares worth Rs 2,828.57 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 411.36 crore in the Indian equity market on 4 August 2021, provisional data showed.
COVID-19 Update:
Total COVID-19 confirmed cases worldwide stood at 20,02,42,092 with 42,56,850 deaths. India reported 4,11,076 active cases of COVID-19 infection and 4,26,290 deaths while 3,09,74,748 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.
India saw a single day rise of 42,982 new coronavirus infections taking the total tally of COVID-19 cases to 3,18,12,114, while the active cases increased to 4,11,076.The death toll climbed to 4,26,290 with 533 fresh fatalities. The active cases comprise 1.29% of the total infections, while the national COVID-19 recovery rate was recorded at 97.37%.
Economy:
The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) is scheduled to announce its bi-monthly policy review on 6 August 2021 at the end of the three-day meeting held from 4 August 2021 to 6 August 2021. As per reports, the RBI is likely to maintain the status quo on interest rates. The MPC, a six-member team headed by RBI governor Shaktikanta Das, had left the rates unchanged last time, citing concerns about inflation.
Gainers & Losers:
Bharti Airtel (up 7.13%), Eicher Motors (up 3.21%), HCL Technologies (up 2.81%), Tech Mahindra (up 2.38%) and Reliance Industries (RIL) (up 1.93%) were major gainers in Nifty 50 index.
State Bank of India (SBI) (down 2.43%), IndusInd Bank (down 2.26%), Bajaj Finance (down 1.53%), NTPC (down 1.48%) and UPL (down 1.31%) were major losers in Nifty 50 index.
Nifty Results Today:
GAIL India (up 0.95%), Cipla (up 1.16%) will announce their quarterly results today.
Earnings Impact:
Adani Total Gas declined 1.38%. The company's consolidated net profit soared 266.43% to Rs 142.58 crore on a 152.82% jump in revenue from operations to Rs 522.27 crore in Q1 June 2021 (Q1 FY22) over Q1 June 2020 (Q1 FY21). Consolidated profit before tax surged 196.35% to Rs 185.46 crore in Q1 FY22 as against Rs 62.58 crore in Q1 FY21.
Sumitomo Chemical India rose 0.54%. The company's consolidated net profit increased by 33.4% to Rs 105.75 crore on a 20.7% rise in net sales to Rs 782 crore in Q1 FY22 over Q1 FY21. As compared with Q4 FY21, the company's net profit and net sales are higher by 95.4% and 46.4%, respectively. Profit before tax in Q1 FY22 stood at Rs 142.34 crore, up by 30.7% from Rs 108.91 crore in Q1 FY21. Current tax expenses rose by 12.7% Y-o-Y to Rs 36.46 crore during the period under review.
Global Markets:
European markets mostly advanced on Thursday, 5 August 2021 morning as investors digested more corporate earnings and await a key monetary policy decision from the Bank of England.
Asian stocks traded mixed following declines overnight on Wall Street. U.S. stocks closed mostly lower on Wednesday, with the S&P 500 falling from a record high after data signaled a slowdown in jobs growth in July, and General Motors tracked its worst day since early March.
Shares of General Motors dropped sharply, weighing on the broader market, after the automaker missed earnings expectations for the second quarter. The automaker did raise its guidance for a key profit metric for the rest of the year.
Vice Chairman Richard Clarida said the Fed is on track for a liftoff in interest rates in 2023 and an announcement later this year on paring bond purchases. Clarida painted an upbeat picture of the outlook while acknowledging that the rapid spread of the delta virus strain poses a downside risk.
A measure of US services industry activity jumped to a record high in July. The Institute for Supply Management said on Wednesday its non-manufacturing activity index raced to 64.1 last month, the highest reading in the series' history, from 60.1 in June.
The ADP private payroll survey showed a gain of 330,000 jobs for July. The Labor Department's official jobs report, which typically has more impact with investors, will be released on Friday.
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