The key barometers were trading near the day's high in afternoon trade. At 13:20 IST, the barometer index, the S&P BSE Sensex, rose 313.15 points or 0.60% at 52,254.79. The Nifty 50 index gained 93.10 points or 0.60% at 15,728.45.
Reliance Industries (RIL) (up 1.21%), Bajaj Finance (up 4.20%) and HDFC (up 0.69%) boosted the indices.
The broader market outperformed the benchmark indices. The S&P BSE Mid-Cap index rose 0.90%. The S&P BSE Small-Cap index added 1.64%.
Buyers outpaced sellers. On the BSE, 2,353 shares rose and 758 shares fell. A total of 129 shares were unchanged.
Foreign portfolio investors (FPIs) sold shares worth Rs 846.37 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 271.70 crore in the Indian equity market on 9 June 2021, provisional data showed.
COVID-19 Update:
Total COVID-19 confirmed cases worldwide stood at 17,44,32,190 with 37,58,217 deaths. India reported 11,67,952 active cases of COVID-19 infection and 3,59,676 deaths while 2,76,55,493 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.
In the last 24 hours, India reported 94,052 COVID-19 cases, and 6,148 deaths in the last 24 hours. This is the highest number of deaths that the country has seen in a day since the start of the pandemic. The jump in deaths come after Bihar revised its toll on Wednesday, adding 3,951 previously uncounted deaths to its tally.
Gainers & Losers:
Bajaj Finance (up 4.20%), Divi's Laboratories (up 2.68%), Bajaj Finserv (up 2.14%), Hindustan Unilever (HUL) (up 1.80%) and Tech Mahindra (up 1.77%) were major gainers in Nifty 50 index.
Bajaj Auto (down 1.29%), Eicher Motors (down 1.05%), UPL (down 0.76%), Adani Ports & Special Economic Zone (APSEZ) (down 0.57%) and Maruti Suzuki India (down 0.57%) were major losers in Nifty 50 index.
Earnings Impact:
Bata India rallies 4.12%. On a consolidated basis, the footwear maker's net profit dropped 23.28% to Rs 29.47 crore on 4.94% decline in revenue from operations to Rs 589.90 crore in Q4 March 2021 over Q4 March 2020. Profit before tax (PBT) skid 30.59% to Rs 40.38 crore in Q4 FY21 as against Rs 58.18 crore in Q4 FY20. During the financial year, Bata India's consolidated net loss stood at Rs 89.31 crore in FY21 compared with net profit of Rs 328.95 crore in FY20. Revenue from operations tanked 44.09% to Rs 1,708.48 crore in FY21 over FY20.
PTC India Financial Services (PFS) tumbled 5.87% after the company reported consolidated net loss stood of Rs 53.66 crore in Q4 FY21 compared with net profit of Rs 7.05 crore in Q4 FY20. Total income dropped 17.5% to Rs 274.57 crore in Q4 FY21 over Q4 FY20. The company reported pre-tax loss of Rs 30.54 crore in Q4 FY21 as against pre-tax profit of Rs 14.41 crore in Q4 FY20. During the financial year, PTC India Financial Services' consolidated net profit tanked 76.72% to Rs 25.60 crore on 16.81% decline in total income to Rs 1,139.45 crore in FY 2021 over FY 2020.
Indraprastha Medical Corporation dropped 3.95%. On a standalone basis, Indraprastha Medical Corporation net profit surged 132.3% to Rs 15.10 crore on 1.2% fall in net sales to Rs 198.07 crore in Q4 March 2021 over Q4 March 2020. Profit before tax soared 154.10% to Rs 20.84 crore in Q4 FY21 as against Rs 8.20 crore in Q4 FY20. During the financial year, Indraprastha Medical Corporation's standalone net profit slumped 94.6% to Rs 2.33 crore on 26.17% fall in revenue from operations to Rs 613.38 crore in FY 2021 over FY 2020.
Stocks in Spotlight:
Adani Enterprises rose 0.58%. On Thursday, Adani Welspun Exploration completed its appraisal cum development of well in the B-9 contract area of Tapti-Daman Sector of Mumbai Off shore. On 15 March 2021, Adani Enterprises had informed about the gas discovery in Mumbai Offshore's Tapti-Daman sector by Adani Welspun Exploration (AWEL), a joint venture company between Adani Group (65% shareholding) and Welspun Enterprises (35% shareholding). AWEL holds 100% participative interest (PI) and is the operator of this block.
Ion Exchange (India) advanced 2.25% after Franklin Templeton Mutual Fund bought 0.82% stake via bulk deals on 9 June 2021. As per the bulk deal data on the BSE, Franklin Templeton Mutual Fund bought 1,20,000 equity shares (or 0.81% stake) of Ion Exchange at an average price of Rs 1,984.49 each on Wednesday, 9 June 2021.
Global Markets:
Most European shares declined while Asian stocks traded higher on Thursday, 10 June 2021. Focus is locked on Thursday's release of U.S. consumer price data and a European Central Bank meeting for further clues about how soon policymakers may begin to withdraw support for Europe's economy rolled out following the COVID-19 crisis.
U.S.-China tensions are in focus, with Joe Biden revoking Trump-era bans on TikTok and WeChat. The president ordered a review of software applications from foreign adversaries and action against those that pose a security risk.
Wall Street stocks ended lower on Wednesday, reversing earlier gains as investors awaited inflation data for clues as to when the U.S. Federal Reserve might tighten its dovish monetary policy.
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