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Equities hover near day's high; Nifty heads towards 15,900

Capital Market 

The benchmark indices continued to trade close to intraday high during early afternoon trade. The Nifty index moved towards 15,900 level.

At 12:20 IST, the barometer index, the S&P BSE Sensex, surged 358.63 points or 0.68% at 52,945.47. The Nifty 50 index added 114.05 points or 0.72% at 15,877.10.

In the broader market, the S&P BSE Mid-Cap index rose 0.94% while the S&P BSE Small-Cap index gained 1.05%.

The market breadth was strong. On the BSE, 2,192 shares rose and 1,001 shares fell. A total of 169 shares were unchanged.

Foreign portfolio investors (FPIs) sold shares worth Rs 3,848.31 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 2,956.68 crore in the Indian equity market on 30 July 2021, provisional data showed.

Economy:

The gross GST revenue collected in the month of July 2021 stood at Rs 1,16,393 crore of which CGST was Rs 22,197 crore, SGST was Rs 28,541 crore, IGST was Rs 57,864 crore (including Rs 27,900 crore collected on import of goods) and Cess was Rs 7,790 crore (including Rs 815 crore collected on import of goods).The above figure includes GST collection received from GSTR-3B returns filed between 1st July 2021 to 31st July2021 as well as IGST and cess collected from imports for the same period.

With the easing out of COVID restrictions, GST collection for July 2021 has again crossed Rs 1 lakh crore, which clearly indicates that the economy is recovering at a fast pace.

Meanwhile, India's unemployment rate fell to a 4-month low of 6.95% in July 2021 [Urban (8.30%) and Rural (6.34%)] as compared to 9.17% in June 2021 [Urban (10.07%) and Rural (8.75%)].

Coronavirus Update:

Total COVID-19 confirmed cases worldwide stood at 19,83,33,053 with 42,24,441 deaths. India reported 4,13,718 active cases of COVID-19 infection and 4,24,773 deaths while 3,08,57,467 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.

India reported 40,134 new cases of the COVID-19 in the last 24 hours, a government statement said on Monday. Deaths rose by 422 in the same period, according to the federal health ministry.

Derivatives:

The NSE's India VIX, a gauge of market's expectation of volatility over the near term, rose 1.67% to 13.0175. The Nifty 26 August 2021 futures were trading at 15,896.10, at a premium of 19 points as compared with the spot at 15,877.10.

The Nifty option chain for 26 August 2021 expiry showed maximum Call OI of 22 lakh contracts at the 15,800 strike price. Maximum Put OI of 44.1 lakh contracts was seen at 15,000 strike price.

Buzzing Index:

The Nifty PSU Bank index rose 1.07% to 2,467.55. Punjab National Bank (up 2.53%), J&K Bank (up 2.23%), Canara Bank (up 1.60%), Bank of India (up 1.14%) and Bank of Baroda (up 0.93%) were the major gainers in the PSU Bank segment.

Stocks in Spotlight:

Torrent Power rose 0.45%. The company entered into a securities purchase agreement with Lightsource India and Lightsource Renewable Energy (India) for acquisition of 100% of the share capital and all securities of LREHL Renewables India SPV 1 (SPV).

Indian Railway Catering and Tourism Corporation (IRCTC) rallied 7.28% after the company announced that its board will meet on 12 August to discuss the proposal for sub-division of company's equity shares. The board will also consider and approve the unaudited financial results of the company for the quarter ended on 30 June 2021 on the same day.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Mon, August 02 2021. 12:35 IST
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