Benchmarks give up early gains

Equity indices reversed early gains and traded with tiny losses in morning trade. The Nifty slipped below the 15,800 mark after opening above that level. Barring the Nifty FMCG index, all sectoral indices on the NSE traded in the green.

At 10:25 IST, the barometer index, the S&P BSE Sensex, was down 24.55 points or 0.05% at 52,674.46. The Nifty 50 index was down 0.3 points at 15,790.75.

In the broader market, the S&P BSE Mid-Cap index was up 0.66% while the S&P BSE Small-Cap index gained 0.33%.

The market breadth was positive. On the BSE, 1594 shares rose and 1218 shares fell. A total of 128 shares were unchanged.

COVID-19 Update:

Total COVID-19 confirmed cases worldwide stood at 179,942,690 with 3,898,983 global deaths.

India reported 612,868 active cases of COVID-19 infection and 393,310 deaths, according to the data from the Ministry of Health and Family Welfare, Government of India.

Results Today:

Hindustan Copper (up 3.79%), Railtel Corporation of India (up 0.82%), Pix Transmission (up 4.07%), Indraprastha Gas (up 1.4%), MSTC (up 1.52%), Antony Waste Handing (up 1.14%), Apex Frozen Food (up 0.27%), Atul Auto (up 0.84%), Balmer Lawrie (up 0.39%), Inox Wind Energy (up 10%), Jindal Drilling (up 0.48%), JSW Energy (up 0.06%) and Maharashtra Seamless (up 1.43%) will announce their quarterly results today.

Buzzing Index:

The Nifty Metal index surged 1.89% to 5,187.05, rising for second trading session. The metal index added 2.47% in two days.

Tata Steel (up 3.63%), Steel Authority of India (up 3.48%), Jindal Steel & Power (up 2.16%), Vedanta (up 2.03%) and JSW Steel (up 1.41%), NMDC (up 1.25%), Hindalco Industries (up 1.21%) and Coal India (up 0.24%) gained.

Earnings Impact:

ONGC rose 0.08%. The PSU company's standalone net profit surged to Rs 4,762.86 crore in Q4 FY21 from Rs 836.86 crore in Q4 FY20. Net sales during the quarter declined by 1.2% to Rs 21,188.91 crore in Q4 FY21 over Q4 FY20. Net realisation increased by 18.4% to $58.05 a barrel in the March quarter, compared with $49.01 a barrel in the year-ago quarter.

Ashok Leyland jumped 5.2% to Rs 124.35 after the commercial vehicles maker recorded net profit of Rs 241.77 crore in Q4 FY21 compared with net loss of Rs 57.32 crore in Q4 FY20. The flagship of Hinduja Group posted an 83% rise in net sales to Rs 6,972 crore in Q4 FY21 from Rs 3,814.16 crore in Q4 FY20. The company posted a profit before tax of Rs 313.94 crore in Q4 FY21 as against a pre tax loss of Rs 72.1 crore in Q4 FY20. During Q4 FY21, the company's medium and heavy commercial vehicles (MHCV) truck volumes surged 111% year on year which is better than the rate of growth of the industry. The company said its MHCV truck market share for Q4 FY21 has therefore improved to 28.9% vis-a-vis 27.6% in Q4 FY20.

Powered by Capital Market - Live News