The domestic equity benchmarks were trading with strong gains in morning trade. The Nifty traded above the 16,300 mark. PSU banks, realty, FMCG and metal shares were under pressure.
At 10:24 IST, the barometer index, the S&P BSE Sensex, was up 202.76 points or 0.37% to 54,605.61. The Nifty 50 index added 46.05 points or 0.28% to 16,304.30.
In the broader market, the S&P BSE Mid-Cap index rose 0.18% while the S&P BSE Small-Cap index slipped 0.16%.
The market breadth was negative. On the BSE, 1224 shares rose and 1679 shares fell. A total of 126 shares were unchanged.
COVID-19 Update:
Total COVID-19 confirmed cases worldwide stood at 203,356,472 with 4,302,588 global deaths.
India reported 388,508 active cases of COVID-19 infection and 428,682 deaths, according to the data from the Ministry of Health and Family Welfare, Government of India.
Buzzing Index:
The Nifty PSU Bank index slipped 0.59% to 2,390.80. The index has lost 2.14% in two sessions.
Indian Overseas Bank (down 2.90%), Indian Bank (down 2.38%), Central Bank of India (down 2.11%), Jammu and Kashmir Bank (down 1.48%), Punjab & Sind Bank (down 0.84%), SBI (down 0.62%), Union Bank of India (down 0.56%) and Bank of Maharashtra (down 0.49%) declined.
Results Today:
Coal India (up 0.24%), Power Grid Corporation Of India (down 1.59%), Jindal Steel & Power (down 0.42%), Lupin (up 0.09%), Zomato (down 3.14%), Motherson Sumi Systems (down 1.19%), Siemens (up 1.32%), Godrej Agrovet (up 0.16%), Computer Age Management Services (up 0.62%), Linde India (up 0.67%), Manappuram Finance (down 0.95%), Max Financial Services (up 1.01%), Max Healthcare Institute (up 1.95%), Trent (up 1.24%), Prestige Estates Projects (down 2.31%), Mrs. Bectors Food Specialities (down 0.54%), Krishna Institute of Medical Sciences (down 0.117%), Whirlpool Of India (down 0.28%), Century Plyboards (I) (up 0.81%) and Wonderla Holidays (up 0.07%) will announce their quarterly earnings today.
Earnings Impact:
Shree Cement fell 3.54% to Rs 27284.10. On a consolidated basis, the cement company's net profit surged 90.97% to Rs 630.89 crore on a 46.16% jump in net revenue from operations to Rs 3,634.83 crore in Q1 June 2021 over Q1 June 2020.
Bombay Dyeing & Manufacturing Company slipped 1.78% to Rs 96.35. On a consolidated basis, the company's net loss (from continued operations) stood at Rs 107.91 crore in Q1 June 2021 lower than net loss of Rs 129.13 crore in Q1 June 2020. Revenue from operations soared 317.73% YoY to Rs 380.85 crore in Q1 FY22.
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