The key barometers further extended gains and hit fresh intraday high in afternoon trade. At 13:20 IST, the barometer index, the S&P BSE Sensex, rose 372.54 points or 0.71% at 52,678.62. The Nifty 50 index gained 99 points or 0.63% at 15,785.95. The June 2021 F&O contracts will expire today, 24 June 2021.
Infosys (up 3.12%), Tata Consultancy Services (TCS) (up 3.27%) and HDFC Bank (up 1.50%) boosted the indices.
Broader markets suffered minor losses. The S&P BSE Mid-Cap index fell 0.36%. The S&P BSE Small-Cap index lost 0.09%.
Sellers outnumbered the buyers. On the BSE, 1,463 shares rose and 1,658 shares fell. A total of 143 shares were unchanged.
Foreign portfolio investors (FPIs) bought shares worth Rs 3,156.53 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,317.20 crore in the Indian equity market on 23 June 2021, provisional data showed.
COVID-19 Update:
Total COVID-19 confirmed cases worldwide stood at 17,96,01,602 with 38,91,974 deaths. India reported 6,27,057 active cases of COVID-19 infection and 3,91,981 deaths while 2,90,63,740 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.
India recorded 54,336 new coronavirus cases and 1,321 deaths in the last 24 hours ending 9 A.M. on Thursday. With this the country's total caseload has risen to over 3 crore, while the death toll has increased to 3.91 lakh. Meanwhile, the active caseload has dropped to 6.27 lakh.
Gainers & Losers:
JSW Steel (up 1.90%), Larsen & Toubro (L&T) (up 1.55%) and HCL Technologies (up 1.55%) were major gainers in Nifty 50 index.
Reliance Industries (RIL) (down 1.24%), Indian Oil Corporation (IOCL) (down 1.20%), NTPC (down 1.15%) and Power Grid Corporation of India (down 1.03%) were major losers in Nifty 50 index.
Nifty Result Today:
Oil & Natural Gas Corporation (ONGC) (down 0.53%) will announce its quarterly result today.
Earnings Impact:
Apollo Hospitals Enterprise (AHEL) slipped 1.62% after the company's consolidated net profit dropped 18.94% to Rs 169.89 crore on 1.86% decline in revenue from operations to Rs 2,867.95 crore in Q4 March 2021 over Q4 March 2020. Profit before tax skid 16.24% to Rs 237.56 crore in Q4 FY21 as against Rs 283.64 crore in Q4 FY20.
Meanwhile, Apollo Hospitals Enterprise (AHEL) announced a re-organization through the slump sale of identified business undertaking including: a) AHEL's back-end offline pharmacy business (excluding hospital-based pharmacies); b) AHEL's digital healthcare platform Apollo 24/7; c) AHEL's investment in retail pharmacy business (Apollo Medicals), and; d) the "Apollo 24/7" brand, the "Apollo Pharmacy" brand and private label brands into AHEL's 100% subsidiary Apollo HealthCo (AHL).
Allcargo Logistics declined 2.67% after the company's consolidated net profit tanked 89.1% to Rs 5.91 crore on 79% jump in net sales to Rs 3,349.31 crore in Q4 March 2021 over Q4 March 2020. Profit before tax slumped 76.2% to Rs 15.52 crore in Q4 FY21 as against Rs 65.25 crore in Q4 FY20.
Stocks in Spotlight:
Cadila Healthcare fell 0.98%. The pharmaceutical major said that it has received tentative approval from the USFDA to market fingolimod capsules in the strength of 0.25 mg. The Fingolimodis an immunomodulating drug, indicated for the treatment of relapsing forms of multiple sclerosis (MS), is the bioequivalent of US reference listed drug (RLD) Gilenya capsules. In October 2020, the group was granted approval to market fingolimod capsules in the strength of 0.5 mg. Fingolimod is an immunomodulating drug. It is a sphingosine 1-phosphate receptor modulator indicated for the treatment of relapsing forms of multiple sclerosis (MS).
Angel Broking lost 0.75%. The brokerage firm has launched 'Smart Store', an ecosystem which will serve as a marketplace for fintech-based products and services including rule-based investing solutions and investor education services. Smart Store will also give traders a social forum to interact with each other. At present, increasing retail participation is seen in India as more investors and traders from Tier II and Tier III cities enter the stock market. However, there is limited awareness amongst the masses about apps, products, and tools available for them that can help them trade effectively.
Global Markets:
Shares in Europe and Asia advanced on Thursday, 24 June 2021, as traders digested commentary from US Federal Reserve officials on the outlook for stimulus.
In US, the S&P 500 erased modest gains earlier and closed in the red on Wednesday as the market's comeback rally took a breather. The Nasdaq hovered near its all-time high on Wednesday.
Dallas Fed President Robert Kaplan, who's penciled in a rate hike next year, said the economy will likely meet the Fed's threshold for tapering asset purchases sooner than people think. His Atlanta counterpart Raphael Bostic said the central bank could decide to slow such purchases in the next few months. Neither are currently voting members of the Fed's rate setting committee.
A measure of U.S. factory activity climbed to a record high in June. Data firm IHS Markit said on Wednesday its flash U.S. manufacturing PMI rose to a reading of 62.6 this month. That was the highest since the survey was expanded to cover all manufacturing industries in October 2009 and followed a final reading of 62.1 in May.
The U.S. current account deficit increased to a 14-year high in the first quarter. The Commerce Department said on Wednesday the current account deficit, which measures the flow of goods, services and investments into and out of the country, rose 11.8% to $195.7 billion last quarter. That was the largest shortfall since the first quarter of 2007.
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