The benchmark indices were trading with small gains in afternoon trade. At 13:20 IST, the barometer index, the S&P BSE Sensex, rose 140.04 points or 0.27% at 52,440.51. The Nifty 50 index gained 26.70 points or 0.17% at 15,764.45.
Reliance Industries (RIL) (up 1.75%), TCS (up 2.28%) and Infosys (up 1.22%) boosted the indices.
The broader market was mixed. The S&P BSE Mid-Cap index lost 0.24%. The S&P BSE Small-Cap index added 0.14%.
Buyers outpaced sellers. On the BSE, 1,622 shares rose and 1,473 shares fell. A total of 140 shares were unchanged.
Foreign portfolio investors (FPIs) bought shares worth Rs 1,329.70 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 575.19 crore in the Indian equity market on 10 June 2021, provisional data showed.
COVID-19 Update:
Total COVID-19 confirmed cases worldwide stood at 17,48,73,997 with 37,73,547 deaths. India reported 11,21,671 active cases of COVID-19 infection and 3,63,079 deaths while 2,77,90,073 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.
India's active COVID-19 caseload further declined to 11,21,671 yesterday. A net decrease of 46,281 in active cases was noted in last 24 hours, according to the data from the Ministry of Health and Family Welfare, Government of India. Less than 1 lakh cases were reported for the fourth day. In last 24 hours, India reported 91,702 new cases while 1,34,580 patients recovered. Recoveries continue to outnumber the daily new cases for the twenty ninth consecutive day. Recovery rate increased further to 94.93%.
Gainers & Losers:
Coal India (up 2.88%), Tata Consultancy Services (TCS) (up 2.28%), Tata Motors (up 1.93%), Reliance Industries (RIL) (up 1.75%) and HCL Technologies (up 1.70%) were major gainers in Nifty 50 index.
Adani Ports & Special Economic Zone (APSEZ) (down 1.55%), SBI Life Insurance Company (down 1.15%), State Bank of India (SBI) (down 1.10%), IndusInd Bank (down 0.89%) and ICICI Bank (down 0.87%) were major losers in Nifty 50 index.
Earnings Impact:
NHPC fell 0.92%. On a consolidated basis, NHPC's net profit jumped 79.50% to Rs 464.60 crore on 25.84% decline in revenue from operations to Rs 1,609.17 crore in Q4 March 2021 over Q4 March 2020. Profit before tax soared 51.55% to Rs 560.29 crore in Q4 FY21 as against Rs 369.70 crore in Q4 FY20. During the financial year, NHPC's consolidated net profit climbed 7.09% to Rs 3,582.13 crore on 3.59% fall in revenue from operations to Rs 9,647.89 crore in FY 2021 over FY 2020.
GE T&D India slipped 0.61%. The company reported a net profit of Rs 29.51 crore in Q4 FY21 as against a net loss of Rs 187.13 crore in Q4 FY20. Net sales during the quarter increased by 36.2% YoY to Rs 904.47 crore. The company reported a pre-tax profit of Rs 27 crore in Q4 FY21 compared with a pre-tax loss of Rs 234.68 crore in Q4 FY20. The GE Group firm recorded a net profit of Rs 57.98 crore in FY21 compared with net loss of Rs 249.84 crore in FY20. Net sales rose 9.3% to Rs 3452.37 crore in FY21 over FY20.
Stocks in Spotlight:
Suven Pharmaceuticals advanced 2.01% after the company and CSIR-IICT joined hands for the process technology transfer and manufacture of anti COVID drugs molnupiravir and 2-DG. The technology transfer agreement has been signed between Suven Pharmaceuticals (SPL), CSIR-Indian Institute of Chemical Technology (IICT), Hyderabad and CSIR-National Institute of Interdisciplinary Science & Technology (NIIST), Thiruvananthapuram. It is a related party transaction as one amongst the company's independent directors Dr S Chandrasekhar is the director of CSIR-IICT, Hyderabad.
Cosmo Films rose 0.50%. The company said its wholly-owned subsidiary has launched an after-wash laundry sanitizer for germ-free clothing. Cosmo Specialty Chemicals, a 100% subsidiary of Cosmo Films, has forayed into the fast moving consumer goods (FMCG) industry with the launch of Fabritizer, an after-wash laundry sanitizer for germ-free clothing. Fabritizer is available for Rs 299 for 480 ml and Rs 499 for 960 ml on Amazon and Flipkart from 3rd June 2021 onwards.
Power Grid Corporation of India gained 1.61% after the company said that its board will meet on Thursday (17 June 2021) to consider a proposal to issue bonus shares. On the same day, the company's board will also consider the audited annual financial results of the company for the financial year (FY) 2020-21 and recommend final dividend for FY 2020-21, if any.
Global Markets:
European shares advanced while most Asian stocks were trading higher on Friday, 11 June 2021 following overnight gains on the Wall Street.
Wall Street stocks ended higher on Thursday, with the S&P 500 closing above its prior record high set on 7 May 2021, as economic data appeared to support the Federal Reserve's assertion that the current wave of heightened inflation will be temporary.
At the close of trade, the Dow Jones Industrial Average index advanced 19.10 points, or 0.06%, to 34,466. The S&P 500 index added 19.63 points, or 0.47%, at 4,239. The tech-heavy Nasdaq Composite Index rose 108.58 points, or 0.78%, to 14,020.
Consumer prices for May 2021 accelerated at their fastest pace since the summer of 2008 amid the economic recovery from the pandemic-triggered recession, the Labor Department reported Thursday. The US consumer price index rose 5% from a year ago.
The number of Americans applying for unemployment benefits fell for the sixth straight week as the U.S. economy reopens rapidly after being held back for months by the coronavirus pandemic. Jobless claims fell by 9,000 to 376,000 from 385,000 the week before, the Labor Department reported Thursday.
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