At 11:26 IST, the barometer index, the S&P BSE Sensex, added 226.22 points or 0.45% to 50,766.76. The Nifty 50 index was up 46.95 points or 0.31% at 15,222.50.
In broader market, the S&P BSE Mid-Cap index was up 0.74% while the S&P BSE Small-Cap index was up 0.75%.
The market breadth was positive. On the BSE, 1829 shares rose and 1093 shares fell. A total of 158 shares were unchanged.
COVID-19 Update:
Total COVID-19 confirmed cases worldwide stood at 166,947,534 with 3,459,051 global deaths.
India reported 27,20,716 active cases of COVID-19 infection and 3,03,720 deaths, according to the data from the Ministry of Health and Family Welfare, Government of India. In last 24 hours, India recorded 2,22,315 new cases and registered 4,454 deaths.
Lockdown was extended on Sunday in Delhi, Haryana, Rajasthan and Puducherry, with many states already imposing Covid-induced restrictions till May-end to rein in the spread of infection. Delhi chief minister Arvind Kejriwal announced that the ongoing lockdown in the national capital will continue for another week and said the process of "unlock" will start from May 31 in a phased manner if the number of COVID-19 cases continues to decline.
Meanwhile, BioNTech's chief executive reportedly said that the COVID-19 vaccine it developed with U.S. pharmaceutical group Pfizer is likely to be effective against the Indian variant of coronavirus.
Buzzing Index:
The Nifty Realty index gained 1.36% to 325. The index has added 8.1% in six days.
Sobha (up 3.53%), DLF (up 2.4%), Godrej Properties (up 2.1%), Sunteck Realty (up 1.69%) and Indiabulls Real Estate (up 0.16%) were the top gainers in realty segment.
Earnings Impact:
Multi Exchange Commodity of India (MCX) declined 2.88% to Rs 1,578.05 after the company's consolidated net profit tumbled 41.3% to Rs 38.44 crore on 13.6% decline in net sales to Rs 96.97 crore in Q4 March 2021 over Q4 March 2020. Profit before tax (PBT) dropped 23.4% to Rs 49.47 crore in Q4 FY21 as against Rs 64.58 crore in Q4 FY20. The EBITDA for the quarter ended 31 March 2021 decreased by 21% to Rs 55.73 crore from Rs 70.35 crore over the corresponding quarter ended 31 March 2020. For the quarter ended 31 March 2021, the EBITDA margin was 51% and PAT margin was 35%. The average daily turnover (ADT) in commodity futures (including index futures) on the exchange decreased by 13% to Rs 31,823 crore in Q4 FY 2021 from Rs 36,626 crore in the corresponding quarter of Q4 FY2020.
Shoppers Stop rose 0.55%. On a consolidated basis, the company's net loss stood at Rs 24.10 crore in Q4 FY21 compared with net loss of Rs 127.22 crore in Q4 FY20. Net sales fell 6.1% to Rs 680.46 crore in Q4 FY21 as against Rs 724.38 crore in Q4 FY20. Pre-tax loss stood at Rs 24.24 crore in Q4 FY21 as against pre-tax loss of Rs 151.80 crore in Q4 FY20. The business rapidly recovered from the pandemic in Q4. The recovery in footfalls and sales had begun in Q3 vs preceding quarters and it continued in Q4. For the quarter, the firm had 90% of FY20 sales, the strongest recovery in the last 4 quarters. However, with the pandemic in India, taking a severe turn in the second half of March, the year has ended on a sombre note.
Global Markets:
Most Asian stocks advanced on Monday. Investors anxiously awaited a key read on U.S. inflation this week for guidance on monetary policy.
In US, the Dow Jones Industrial Average closed higher Friday, while other major benchmarks slipped on concerns about Federal Reserve policy in the face of rising inflation pressures.
Helping sentiment Friday was a gauge for U.S. manufacturing activity that surged to a record high this month. The IHS Markit Flash U.S. Manufacturing Purchasing Managers' Index jumped to an all-time high of 61.5 in May from 60.5 in April.
However, housing data was soft. Existing-home sales fell 2.7% in April to a seasonally adjusted annual rate of 5.85 million annual rate, according to the National Association of Realtors.
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