The benchmark indices were trading near the day's high in afternoon trade. At 13:20 IST, the barometer index, the S&P BSE Sensex, advanced 169.77 points or 0.31% at 55,607.06. The Nifty 50 index rallied 37.30 points or 0.23% at 16,566.40.
The S&P BSE Sensex hit a record high of 55,680.75 while the Nifty index hit an all-time high of 16,585.45 in mid-morning trade.
Reliance Industries (RIL) (up 1.99%), Bajaj Finance (up 2.12%) and Housing Development Finance Corporation (HDFC) (up 1.17%) boosted the indices.
The broader indices were trading lower. The S&P BSE Mid-Cap index fell 0.20%. The S&P BSE Small-Cap index shed 0.54%.
Sellers outnumbered buyers. On the BSE, 1,129 shares rose and 2,072 shares fell. A total of 134 shares were unchanged.
Foreign portfolio investors (FPIs) bought shares worth Rs 819.77 crore, while domestic institutional investors (DIIs), were also net buyers to the tune of Rs 149.50 crore in the Indian equity market on 13 August 2021, provisional data showed.
COVID-19 Update:
Total COVID-19 confirmed cases worldwide stood at 20,72,11,656 with 43,62,268 deaths. India reported 3,81,947 active cases of COVID-19 infection and 4,31,642 deaths while 3,14,11,924 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.
Economic Data:
India's annual rate of inflation based on wholesale price Index (WPI) eased to 11.16% year-on-year in July 2021, from 12.07% in the previous month and steeply above (-0.25%) in July 2020.
The high rate of inflation in July 2021 is primarily due to low base effect and rise in prices of crude petroleum & natural gas; mineral oils; manufactured products like basic metals; food products; textiles; chemicals and chemical products etc. compared with the corresponding month of the previous year.
Gainers & Losers:
Tata Steel (up 3.11%), Mahindra & Mahindra (M&M) (up 2.92%), Bajaj Finance (up 2.12%), Reliance Industries (RIL) (up 1.99%) and Bharat Petroleum Corporation (BPCL) (up 1.78%) were major gainers in Nifty 50 index.
Bajaj Auto (down 1.96%), Shree Cement (down 1.94%), Power Grid Corporation of India (down 1.65%), Eicher Motors (down 1.51%) and Divi's Laboratories (down 1.47%) were major losers in Nifty 50 index.
Earnings Impact:
Vodafone Idea tumbled 5.38%. The telecom company reported a consolidated net loss of Rs 7,319.1 crore in Q1 FY22 as against a net loss of Rs 25,460 crore in Q1 FY21. Gross revenue declined by 14.1% to Rs 9,152.3 crore in Q1 FY22 as against Rs 10,659.30 crore in Q1 FY21. Revenue for the quarter declined 4.7% Q-o-Q, on account of slowdown in economic activities due to lockdown or restrictions in most of the districts during the severe second wave of COVID. On a reported basis, EBITDA for the quarter declined 15.9% Y-o-Y to Rs 3,707.7 crore, with EBITDA margins at 40.5%. The company had reported an EBITDA of 4,408.7 crore in Q4 FY21. Capex spend for Q1FY22 was Rs 940 crore vs Rs 1540 crore in Q4FY21.
Spicejet skid 4.03% after the company's consolidated net losses widened to Rs 731.12 crore in Q1 June 2021 (Q1 FY22), higher than net loss of Rs 600.52 crore in Q1 June 2020 (Q1 FY21). Consolidated net sales surged 121.20% to Rs 1,083.24 crore in Q1 FY22 as against Rs 489.60 crore in Q1 FY21. Pre-tax loss was at Rs 731.12 crore in Q1 FY22 as against a pre-tax loss of Rs 600.52 crore in Q1 FY21.
Global Markets:
European stocks fell across the board while most Asian stocks declined on Monday, 16 August 2021, amid fears of the delta virus strain and as investors reacted to the release of economic data.
Market participants closely monitored the potential geopolitical implications of the sudden collapse of the Afghanistan government. Taliban insurgents over the weekend pushed their frontlines into the capital city of Kabul after a succession of shocking battlefield reversals, spurred by the exodus of U.S. and coalition forces.
In Asia, retail sales in China rose 8.5% in July as compared with a year ago, according to official data released Monday. Meanwhile, industrial production grew 6.4% in July.
Japan's GDP rose 0.3% in the second quarter as compared with the previous three months, when it contracted 0.9%, according to official preliminary estimates released Monday.
In US, the Dow Industrial and S&P 500 edged up to closing records on Friday, buoyed by a climb in Walt Disney shares, but a sharp drop in consumer sentiment kept gains in check.
The University of Michigan's sentiment read for August printed at just 70.2, the weakest since December 2011.
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