Sensex, Nifty scale record high

Key equity indices scaled record highs in morning trade. The Nifty scaled record of 15,971.15 while the Sensex hit an all time high of 53,292.82 in intraday trade. Market breadth was strong.

At 10:31 IST, the barometer index, the S&P BSE Sensex, was up 321.19 points or 0.61% at 53,271.57. The Nifty 50 index was up 81.35 points or 0.51% at 15,966.80.

In broader market, the S&P BSE Mid-Cap index was up 0.1% while the S&P BSE Small-Cap index was up 0.41%.

The market breadth, indicating the overall health of the market, was strong. On the BSE, 1834 shares rose and 1106 shares fell. A total of 106 shares were unchanged.

COVID-19 Update:

Total COVID-19 confirmed cases worldwide stood at 198,891,340 with 4,235,449 global deaths.

India reported 404,958 active cases of COVID-19 infection and 425,195 deaths, according to the data from the Ministry of Health and Family Welfare, Government of India.

Results Today:

Bharti Airtel (up 0.51%), Tata Consumer Products (up 0.63%), Adani Enterprises (up 0.22%), Adani Ports and Special Economic Zone (up 0.66%), Bajaj Healthcare (up 1.46%), Bank of India (up 1.35%), Barbeque-Nation Hospitality (up 2.51%), CARE Ratings (up 0.96%), Dabur India (up 0.74%), ELGI Equipments (up 0.91%), Everest Industries (up 2.13%), Godrej Properties (up 1.72%), IIFL Wealth Management (up 2.49%), Inox Leisure (down 1.56%), Kajaria Ceramics (up 3.6%), Kalpataru Power Transmission (up 2.5%) and NOCIL (up 0.55%) are some of the companies that will announce their quarterly results today.

Earnings Impact:

RBL Bank declined 2.26% to Rs 190.05 after the bank's standalone net loss stood at Rs 459.47 crore in Q1 June 2021 (Q1 FY22) as compared to a net profit of Rs 141.22 crore in Q1 June 2020 (Q1 FY21). Standalone total income rose 4.92% to Rs 2,720.50 crore in Q1 FY22 from Rs 2,592.73 crore in Q1 FY21. Pre-tax loss was at Rs 618.22 crore in Q1 FY22 as against a pre-tax profit of Rs 189.56 crore in Q1 FY21. Provision and Contingencies expanded 185.04% to Rs 1,425.67 crore in Q1 FY22 over Rs 500.16 crore in Q1 FY21. Provision coverage ratio (PCR) stood at 76.3% at 30 June 2021 over 70.5% as on 30 June 2020.

Castrol India rose 1.99% to Rs 141 after the company's standalone net profit jumped 114.06% to Rs 140 crore on an 81.32% surge in revenue from operations to Rs 889.60 crore in Q2 2021 over Q2 2020. Standalone profit before tax soared 114.91% to Rs 190.20 crore in Q2 2021 as against Rs 88.50 crore in Q2 2020.

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