Sensex, Nifty at day's high; breadth strong

Benchmark indices extended gains and hit fresh intraday high in morning trade, amid value buying after a recent steep correction. The Nifty scaled the 15,750 level.

At 10:20 IST, the barometer index, the S&P BSE Sensex, jumped 520.77 points or 1% at 52,719.79. The Nifty 50 index gained 146.35 points or 0.94% at 15,778.75.

In broader market, the S&P BSE Mid-Cap index surged 0.82% while the S&P BSE Small-Cap index was gained 1.35%.

The market breadth, indicating the overall health of the market, was strong. On the BSE, 2242 shares rose and 703 shares fell. A total of 127 shares were unchanged.

 

COVID-19 Update:

Total COVID-19 confirmed cases worldwide stood at 191,951,455 with 4,126,444 global deaths.

India reported 409,394 active cases of COVID-19 infection and 418,987 deaths, according to the data from the Ministry of Health and Family Welfare, Government of India.

Results Today:

Hindustan Unilever (up 1.54%), UltraTech Cement (up 0.89%), Bajaj Auto (up 0.49%), Agro Tech Foods (up 5.55%), Biocon (down 1.2%), Can Fin Homes (up 1.35%), CSB Bank (down 1.27%), Heidelbergcement India (up 2.24%), Hindustan Zinc (up 1.02%), ICICI Lombard General Insurance Company (up 1.48%), Indian Energy Exchange (up 2.36%), IIFL Securities (up 1.91%), IndiaMART InterMESH (down 2.46%), Bank of Maharashtra (down 0.85%), Mahindra EPC Irrigation (down 1%), Mphasis (up 2.88%), Persistent Systems (up 1.6%), Music Broadcast (up 0.4%), Sterlite Technologies (up 4.95%) and Wockhardt (up 2.49%) will announce their quarterly earnings today.

Buzzing Index:

The Nifty Realty index jumped 2.93% to 400.55 and was a top gainer on NSE Sectoral Indices. The index rebounded after losing 2.53% in previous trading session.

Indiabulls Real Estate (up 4.27%), Brigade Enterprises (up 3.7%), Phoenix Mills (up 3.46%), Sunteck Realty (up 2.78%) and DLF (up 2.62%), Godrej Properties (up 2.58%), Mahindra Lifespace Developers (up 2.52%), Prestige Estates Projects (up 2.24%), Oberoi Realty (up 1.37%) and Sobha (up 0.58%) advanced.

Earnings Impact:

Gland Pharma soared 5.38% after the company's net profit jumped 11.81% to Rs 350.65 crore on 30.50% increase in revenue from operations to Rs 1,153.90 crore in Q1 FY22 over Q1 FY21. The growth in revenue was contributed from a mix of launch of new products and volume growth in existing products. The key markets, US, Canada, Europe and Australia registered a growth of 16% and accounted for 61% of the revenue during Q1 FY22. This performance is driven by growth of key products like Micafungin, Enoxaparin, Heparin, Dexmedetomidine and new product launches. Profit before tax surged 12.34% to Rs 471.84 crore in Q1 FY22 as against Rs 420 crore in Q1 FY21. The Q1 earnings was declared on Wednesday, 21 July 2021.

CRISIL jumped 4.31%. The credit rating agency recorded 51.9% increase in net profit to Rs 100.8 crore on 12% rise in income from operations to Rs 528.51 crore in Q2 June 2021 over Q2 June 2020. The board of CRISIL has approved the payment of interim dividend of Rs 8 per equity share for the financial year ending 31 December 2021, which will be paid on 18 August 2021.

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