Sensex, Nifty hit day's high

The domestic equity benchmarks extended early gains and hit fresh intraday high in morning trade. The Nifty hovered near the 15,500 mark. FMCG shares rallied. ITC was in demand ahead of Q4 earnings on 1 June 2021.

At 10:27 IST, the barometer index, the S&P BSE Sensex, was up 249.56 points or 0.49% to 51,672.44. The Nifty 50 index gained 59.20 points or 0.38% to 15,494.85.

In broader market, the S&P BSE Mid-Cap index added 0.37% while the S&P BSE Small-Cap index rose 0.50%.

The market breadth was positive. On the BSE, 1535 shares rose and 1142 shares fell. A total of 123 shares were unchanged.

Investors' sentiment has improved in the recent days due to a steady decline in daily Covid-19 cases in India.

India's statistics ministry will announce the GDP data for the January-March quarter today. The RBI's monetary policy committee will meet this week to review the benchmark interest rates and the decision will be announced on Friday. The central bank will announce its projections regarding GDP and the inflationary outlook.

COVID-19 Update:

Total COVID-19 confirmed cases worldwide stood at 170,189,835 with 3,538,196 global deaths.

India reported 20,26,092 active cases of COVID-19 infection and 3,29,100 deaths, according to the data from the Ministry of Health and Family Welfare, Government of India.

Buzzing Index:

The Nifty FMCG index rose 0.79% to 35,164.70, advancing the most among the sectoral indices on the NSE. The index has added 1.01% in two sessions.

ITC (up 2.02%), Godrej Consumer (up 1.52%), Marico (up 1.08%), Dabur India (up 1.02%), Nestle India (up 0.80%) and Varun Beverages (up 0.55%) advanced.

Meanwhile, United Breweries (down 1.10%) and Tata Consumer Products (down 0.49%) declined.

Results Today:

Aurobindo Pharma (down 0.71%), Jamna Auto (up 0.18%), Kolte Patil (up 0.41%), Narayana Hrudyalaya (up 2.98%), Shilpa Medicare (up 4.21%) and Honeywell Automation (up 2.63%) will announce their quarterly earnings today.

Earnings Impact:

Divi's Laboratories added 3.18% at Rs 4247.50. On a consolidated basis, the company posted a 29.3% rise in net profit to Rs 502.02 crore in Q4 FY21 compared with Rs 388.23 crore in Q4 FY20. Net sales increased 28.7% YoY to Rs 1,788.19 crore in Q4 FY21.

REC was up 0.03% to Rs 146.10. The company's consolidated net profit soared 338.37% to Rs 2,077.84 crore on 19.27% increase in total revenue from operations to Rs 9,211.46 crore in Q4 March 2021 over Q4 March 2020.

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