The benchmark indices were trading with minor losses in early afternoon trade. The Nifty index hovered near 15,850 mark. Media stocks were in demand.
At 12:20 IST, the barometer index, the S&P BSE Sensex, fell 33.23 points or 0.06% at 52,942.57. The Nifty 50 index lost 7.50 points or 0.05% at 15,848.55.
In the broader market, the S&P BSE Mid-Cap index rose 0.33% while the S&P BSE Small-Cap index added 0.70%.
The market breadth was positive. On the BSE, 1,922 shares rose and 1,297 shares fell. A total of 174 shares were unchanged.
Coronavirus Update:
Also Read
Total COVID-19 confirmed cases worldwide stood at 19,41,63,249 with 41,59,108 deaths.
India reported 39,361 new COVID-19 cases, 35,968 recoveries, and 416 deaths in the last 24 hours. The total active cases in the country has now reached 4,11,189, the total recoveries are 3,05,79,106 and the death toll stands at 4,20,967. The total vaccinations stands at 43,51,96,001.
Derivatives:
The NSE's India VIX, a gauge of market's expectation of volatility over the near term, jumped 4.69% to 12.3150. The Nifty 29 July 2021 futures were trading at 15,839.05, at a discount of 9.50 points as compared with the spot at 15,848.55.
The Nifty option chain for 29 July 2021 expiry showed maximum Call OI of 72.8 lakh contracts at the 16,000 strike price. Maximum Put OI of 75.3 lakh contracts was seen at 15,800 strike price.
Buzzing Index:
The Nifty Media index rose 1.41% to 1,778.65. PVR (up 4.14%), Jagran Prakashan (up 3.45%), Inox Leisure (up 3.26%), Dish TV India (up 3.25%) and Sun TV Network (up 2.94%) were the major gainers in the Media segment.
Stocks in Spotlight:
United Spirits declined 2.45%. The liquor major's consolidated net profit stood at Rs 50.30 crore in Q1 June 2021 (Q1 FY22) compared with net loss of Rs 246.60 crore in Q1 June 2020 (Q1 FY21). Reported net sales increased after the company witnessed a healthy momentum in demand for the first three weeks of April 2021 until the second COVID-19 surge in India hit alarming levels and led to resumption of lockdown in various states. The restrictions on on-premise establishments and consumer behavioural shifts impacted the balance between the on- and off-premise occasion in most markets. Revenue from operations soared 66.8% to Rs 1,721.70 crore in Q1 FY22 from Rs 1,031.90 crore in Q1 FY21. Pre-tax profit was at Rs 51.30 crore in Q1 FY22 as against a pre-tax loss of Rs 291.50 crore in Q1 FY21.
JSW Steel slipped 1.75%. The steel major's consolidated net profit stood at Rs 5,900 crore in Q1 June 2021 (Q1 FY22) compared to a net loss of Rs 582 crore in Q1 June 2020 (Q1 FY21). Consolidated net sales soared 148.2% to Rs 28,432 crore in Q1 FY22 as against Rs 11,454 crore in Q1 FY21. Pre-tax profit was at Rs 8,619 crore in Q1 FY22 as against a pre-tax loss of Rs 643 crore in Q1 FY21. EBITDA stood at Rs 10,274 crore in Q1 FY22 while EBITDA margins were at 35.5% during the quarter. During the quarter, the joint venture operations, mainly Bhushan Power & Steel and JSW Ispat Special Products performed satisfactorily. The share of profit from JVs for the quarter stood at Rs 323 crore. Production of Crude Steel grew 39% to 4.10 million tonnes (MT) in Q1 FY22 as against 2.96 million tonnes (MT) in Q1 FY21. Total sales jumped 29% to 3.61 million tonnes (MT) as compared to 2.80 million tonnes (MT).
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