The main equity indices ended a volatile session with minor gains on Tuesday. After opening above the 15,800 mark, the Nifty hit a high of 15,895.75 in morning trade, but pared gains as the session progressed. A strong bout of profit selling in late trade dragged the 50-unit index below the 15,800 mark. Auto and IT stocks were in demand while realty, banks and FMCG shares declined.
The barometer index, the S&P BSE Sensex, rose 14.25 points or 0.03% at 52,588.71. The index hit a record high of 53,057.11 in morning trade.
The Nifty 50 index gained 26.25 points or 0.17% at 15,772.75, rising for second trading session.
Asian Paints (down 1.91%), Bajaj Finance (down 1.61%) and Reliance Industries (down 0.52%) were major drags.
The broader market outperformed the benchmark indices. The BSE Mid-Cap index added 0.33% and the BSE Small-Cap index rose 0.83%.
Buyers outpaced sellers. On the BSE, 2026 shares rose and 1212 shares fell. A total of 125 shares were unchanged.
COVID-19 Update:
Total COVID-19 confirmed cases worldwide stood at 17,87,88,247 with 38,73,285 deaths. India reported 6,62,521 active cases of COVID-19 infection and 3,89,302 deaths while 2,89,26,038 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.
India on Tuesday, 22 June 2021 reported 42,640 new COVID-19 cases, the lowest in three months. 81,839 people were discharged and 1,167 deaths were reported in the last 24 hours, the Union health ministry said. The country's active caseload has declined to 6,62,521.
The Union Government launched free COVID-19 vaccine to all the citizens above 18 years of age from Monday. This move is expected to help in scaling up daily vaccination numbers. All citizens above the age of 18 years can avail free vaccination at any government facility. The centre will buy 75% of the total vaccine production from vaccine manufacturers and give it to the State Governments free of cost. All vaccination centres, government and private, would provide on-site registration facilities.
More than 86.16 lakh vaccine doses, the highest ever single-day vaccination in the world so far, were administered across the country on June 21 as the revised guidelines for COVID-19 vaccination came into effect, the Union Health Ministry said. With that, the cumulative number of COVID-19 vaccine doses administered in the country crossed 28.87 crore.
Numbers to Watch:
The yield on 10-year benchmark federal paper fell to 6.026% as compared with 6.029% at close in the previous trading session.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 74.3750, compared with its close of 74.1025 during the previous trading session.
MCX Gold futures for 5 August 2021 settlement rose 0.14% to Rs 47,139.
The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, rose 0.19% to 92.08.
In the commodities market, Brent crude for August 2021 settlement fell 33 cents at $74.57 a barrel. The contract rose $1.39, or 1.89% to settle at $74.90 a barrel in the previous trading session.
Foreign Markets:
Most shares in Europe and Asia advanced on Tuesday, 22 June 2021, searching for direction after Wall Street arrested the slide triggered by a hawkish turn from the US Federal Reserve.
Back in Europe, European Central Bank President Christine Lagarde gave markets a boost on Monday by offering an optimistic outlook for the euro zone economy and noting that the bloc is clearly in a different situation to the U.S. with regard to inflation.
Britain will on Tuesday commence negotiations to join a trans-Pacific trade accord that the government sees as critical to its post-Brexit future. Comprising Japan, Canada, Australia, Vietnam, New Zealand, Singapore, Mexico, Peru, Brunei, Chile and Malaysia, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership will erase 95% of tariffs on goods and services between members.
US stocks rallied on Monday as investors piled back in to energy and other sectors expected to outperform as the economy rebounds from the pandemic.
Buzzing Indian Segment:
The Nifty Auto index rose 1.34% to 10,540.45. The index fell 3.28% in the past four sessions.
Maruti Suzuki India (up 5.18%), Bharat Forge (up 1.63%), Ashok Leyland (up 0.90%), Tata Motors (up 0.88%), Bajaj Auto (up 0.62%), Eicher Motors (up 0.61%), Hero MotoCorp (up 0.35%), TVS Motor Company (up 0.10%) and Exide Industries (up 0.05%) climbed.
Stocks in Spotlight:
State Bank of India (SBI) fell 0.19%. The bank on Monday announced that its board has approved raising additional tier-I capital of upto Rs 14,000 crore through Basel-III bonds. The central board of the PSU bank approved raising the funds through issue of Basel III-compliant debt instrument in USD and/or Indian rupees during FY22. The fund raise is subject to Government of India concurrence.
Oil India gained 1.14%. On a standalone basis, net profit slipped 8.43% to Rs 847.56 crore on 9.09% rise in total income to Rs 3,909.61 crore in Q4 March 2021 over Q4 March 2020. EBITDA stood at Rs 1,755 crore in Q4 March 2021 compared with EBITDA loss of Rs 107 crore in Q4 March 2020. EBITDA margin was at 44.89% in Q4 FY21 as against (2.99)% in Q4 FY20. In terms of dollars, crude oil price realization spurted 14.60% to $59.80 per barrel in Q4 FY21 on comparison to $52.18 per barrel in Q4 FY20. In rupee terms, crude oil price realization jumped 15.40% to Rs 4,359 a barrel in Q4 FY21 over Rs 3,777 a barrel in Q4 FY20.
V S T Tillers and Tractors slipped 4.27%. Its net profit stood at Rs 12.93 crore in Q4 FY21 compared with net loss of Rs 3.38 crore in Q4 FY20. Net sales surged 62.6% to Rs 194.74 crore in Q4 FY21 from Rs 119.80 crore in Q4 FY20. Pre-tax profit was at Rs 17.50 crore in Q4 FY21 as against pre-tax loss of Rs 5.59 crore in Q4 FY20.
PNB Housing Finance (PNBHF) was locked in an upper circuit of 5% at Rs 737.50 on BSE after the Securities Appellate Tribunal (SAT) on Monday allowed the company to go ahead with the shareholders' meeting on 22 June 2021. However, results of the shareholders' voting will not be disclosed till further directions from the tribunal, the company said in an exchange filing. On 31 May 2021, the housing financier had informed about the scheduling an extra ordinary general meeting (EGM) to seek shareholder's nod for the proposed Rs 4,000 crore-investment by private equity firm Carlyle and others in PNBHF.
Dr. Reddy's Labs rose 0.52%. The drug maker announced the launch of icosapent ethyl capsules, 1 gram in the US market. The product has received an approval by the United States Food and Drug Administration (USFDA). The drug is indicated to reduce triglyceride (TG) levels in adult patients with severe (≥ 500 mg/dL) hypertriglyceridemia.
Shilpa Medicare added 2.54% after the drug company announced the launch of a pediatric dose paracetamol oral thin film, under the brand name Molshil. The drug has been launched in strengths of 60 mg and 120 mg strengths in orange flavour. The company received approval for Molshil oral thin films after sufficiently complying bioequivalence requirements.
Sun Pharmaceutical Industries fell 0.72%. The pharmaceutical major along with one of its wholly owned subsidiaries today announced that they have reached an agreement with Celgene Corporation (Celgene), a wholly-owned subsidiary of Bristol Myers Squibb, to resolve the patent litigation regarding submission of an Abbreviated New Drug Application (ANDA) for a generic version of Revlimid (lenalidomide capsules) in the US.
Engineers India gained 1.24% after the company bagged an order from Numaligarh Refinery (NRL) for execution of revamp of delayed coker unit (DCU). Engineers India shall execute this project as licensor cum engineering, procurement & construction management (EPCM) consultant. The project involves enhancing the capacity of current DCU from 0.306 million metric tonne per annum (MMTPA) to 0.560 MMTPA as well as enabling it to process tougher feed. The estimated order value is Rs 111 crore.
Dish TV India fell 2%. On Monday, the company announced that the company's board approved the raising of funds through rights issue by issuance of fully paid-up equity shares of the company for an amount aggregating up to Rs 1,000 crore. The price of rights issue is set at Rs 10 per share (including a premium of Rs 9 per fully paid up equity share) to eligible equity shareholders of the company as on the record date. The record date and ratio is yet to be finalised.
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