Barometers trade range bound; Nifty holds 15,800 level

The benchmark indices traded in a range during afternoon trade. The Nifty index held its 15,800 mark. European markets and Asian stocks declined across the board on Friday, 30 July 2021 as rising coronavirus cases spooked investors.

At 13:20 IST, the barometer index, the S&P BSE Sensex, rose 75.68 points or 0.14% at 52,728.75. The Nifty 50 index gained 33.70 points or 0.21% at 15,812.15.

Tech Mahindra (up 7.85%), Housing Development Finance Corporation (HDFC) (up 0.97%) and HCL Technologies (up 2.77%) boosted the market.

Broader markets outperformed the benchmark indices. The S&P BSE Mid-Cap index added 0.86%. The S&P BSE Small-Cap index rose 0.99%.

Buyers outnumbered the sellers. On the BSE, 1,919 shares rose and 1,234 shares fell. A total of 129 shares were unchanged.

Foreign portfolio investors (FPIs) sold shares worth Rs 866.26 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 2,046.96 crore in the Indian equity market on 29 July 2021, provisional data showed.

COVID-19 Update:

Total COVID-19 confirmed cases worldwide stood at 19,66,31,596 with 41,99,002 deaths. India reported 4,05,155 active cases of COVID-19 infection and 4,23,217 deaths while 3,07,43,972 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.

Gainers & Losers:

Tech Mahindra (up 7.85%), Adani Ports & Special Economic Zones (APSEZ) (up 3.55%), HCL Technologies (up 2.77%), Mahindra & Mahindra (M&M) (up 2.46%) and Power Grid Corporation of India (up 2.45%) were major gainers in Nifty 50 index.

State Bank of India (SBI) (down 2.16%), SBI Life Insurance Company (down 2.11%), UPL (down 2.04%), Bajaj Finserv (down 1.97%) and Bajaj Finance (down 1.88%) were major losers in Nifty 50 index.

Nifty Results Today:

Sun Pharmaceutical Industries (up 1.22%), UPL (down 1.42%) and Britannia Industries (up 0.13%) will announce their quarterly results today.

Earning Impact:

Deepak Nitrite surged 9.33% after the chemical maker's consolidated net profit jumped 205% to Rs 302.6 crore on a 126% rise in net sales to Rs 1,526.22 crore in Q1 FY22 over Q1 FY21. On a sequential basis, net profit climbed 4.1% while its net sales rose by 4.3% in Q1 FY22 over Q4 FY21. Profit before tax grew by 4% on quarter-on-quarter basis and 205% on year on year basis to Rs 405.25 crore in Q1 FY22.

Global Markets:

European markets and Asian stocks declined across the board on Friday, 30 July 2021 amid escalating coronavirus concerns. Chinese stocks continued to witness significant volatility, as losses were seen again - a day after they clawed back some gains following a dive early this week.

European stocks opened lower after closing the previous session at all-time highs, as investors reacted to another deluge of corporate earnings and economic data.

The surge in the COVID-19 infections worldwide has been relentless, with spiking cases in the US and Japan so much so that the world's third-largest economy is set to expand the state of emergency on Friday to Tokyo's three neighboring prefectures of Osaka, Saitama, Chiba and Kanagawa.

The COVID-19 outbreak in Malaysia has become one of the worst globally. On a seven-day moving average basis, Malaysia reportedly recorded 483.72 confirmed COVID-19 infections per million people on Wednesday the eighth highest globally and top in Asia. The country's daily reported deaths relating to COVID-19 were around 4.90 per million people on Tuesday on a seven-day moving average basis. That is reportedly the 19th highest globally and third highest in Asia.

Japan's industrial output jumped 6.2% in June, sharply rising from a 6.5% drop in May. June retail sales rose 0.1% from a year earlier.

U.S. stocks rose to record levels on Thursday as investors shrugged off economic data pointing slower-than-expected growth. The US economy expanded 6.5% annualized in the second quarter, according to government data released Thursday. The number of Americans collecting unemployment benefits slid last week. Jobless claims dropped by 24,000 to 400,000 last week, the Labor Department reported Thursday.

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