You are here: Home » News-CM » Equities » Market Report
Business Standard

Shares trade in narrow range; Nifty hovers at 14,800

Capital Market 

Key indices traded in a narrow range with losses in early afternoon trade. Mixed global cues and soaring new Covid-19 cases in the country weighed on the sentiment.

At 12:28 IST, the barometer index, the S&P BSE Sensex, was down 389.56 points or 0.78% at 49,376.75. The Nifty 50 index slipped 94.85 points or 0.64% at 14,800.95.

In broader market, the S&P BSE Mid-Cap index was up 0.2% while the S&P BSE Small-Cap index gained 0.51%.

The market breadth was positive. On the BSE, 1489 shares rose and 1220 shares fell. A total of 167 shares were unchanged.

Foreign portfolio investors (FPIs) bought shares worth Rs 809.37 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 942.35 crore in the Indian equity market on 29 April, provisional data showed

COVID-19 Update:

Total COVID-19 confirmed cases worldwide stood at 150,124,248 with 3,161,971 deaths.

India reported 31,70,228 active cases of COVID-19 infection and 208,330 deaths, according to the data from the Ministry of Health and Family Welfare, Government of India.

India for the ninth day in a row recorded fresh Covid infections over 3 lakh with the caseload inching closer to the 4 lakh mark as India reported 3,86,693 fresh cases in the last 24 hours.

Meanwhile, reports suggest that Prime Minister Narendra Modi will chair a meeting of the Union Council of Ministers on Friday to discuss the prevailing Covid situation in the country. The meeting, to be held virtually on Friday morning, could also be attended by some top government officials besides Union ministers, according to the report.

Derivatives:

The NSE's India VIX, a gauge of market's expectation of volatility over the near term, fell 2.09% to 22.8175.

The Nifty May 2021 futures were trading at 14,825.10, at a premium of 38.65 points as compared with the spot at 14,786.45.

The Nifty option chain for 27 May 2021 expiry showed maximum Call OI of 20.9 lakh contracts at the 15,000 strike price. Maximum Put OI of 31.7 lakh contracts was seen at 14,000 strike price.

Buzzing Index:

The Nifty Pharma index gained 0.92% to 13,424.90, rising for second trading session. The pharmaceutical index added 1.3% in two days.

Divi's Laboratories (up 4%), Cadila Healthcare (up 1.69%), Lupin (up 1.37%), Dr. Reddy's (up 0.99%), Aurobindo Pharma (up 0.9%) and Sun Pharmaceutical Inds (up 0.47%) were top gainers in pharma space.

Earnings Impact:

L&T Finance Holdings (LTFH) slipped 1.39% to Rs 88.65 after the company's consolidated net profit dropped 30.9% to Rs 265.97 crore on 4.7% rise in total income to Rs 3,587.18 crore in Q4 FY21 over Q4 FY20. The NBFC company said that the quarter continued to see economic recovery across sectors led by rural and infrastructure space, which helped its businesses. The company's rural franchise was strengthened with highest ever quarterly disbursements, with leadership positions in farm & two-wheeler financing. The company's infra finance segment witnessed robust sell down momentum which touched Rs 979 crore in the quarter and NIMs+fees increased to 8.17%, duly aided by lowest ever quarterly WAC at 7.65%.

Coromandel International lost 1.18% to Rs 724.70 after the company's consolidated net profit tanked 33.5% to Rs 155.85 crore on a 0.5% decline in net sales to Rs 2,855.97 crore in Q4 FY21 over Q4 FY20.

Powered by Capital Market - Live News

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

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Fri, April 30 2021. 12:31 IST
RECOMMENDED FOR YOU
RECOMMENDED FOR YOU