Sensex, Nifty end almost flat; pharmaceutical stocks are climbing

Major stock indexes ended almost flat with some positive bias after a volatile trade on Tuesday. Pharmaceutical stocks were in demand. The Nifty closed just below the 14,700 mark. Gains were capped amid a spike in Covid-19 cases in the country.

According to provisional closing data, the barometer’s index, the S&P BSE Sensex, rose 99.76 points or 0.20% to 49,259.08. The Nifty 50 index added 61.75 points or 0.42% to 14,699.55.

In a larger market, the S&P BSE Mid-Cap index gained 1% while the S&P BSE Small-Cap index rose 0.84%.

The scale of the market was positive. On BSE, 1,680 stocks rose and 1,203 stocks fell. In total, 188 shares remained unchanged.

COVID-19 Update:

The total number of confirmed COVID-19 cases worldwide stood at 13 18 28 728 with 28 61,100 deaths. India has reported 7,883,223 active cases of COVID-19 infection and 1,65,547 deaths while 1,1732,279 patients discharged from hospital, according to data from the Ministry of Health and Family Welfare from the Indian government.

India reported 96,982 new coronavirus cases and 446 related deaths on Monday. Of these, 47,288 cases have been reported in Maharashtra. As cases in Chhattisgarh hit a new high of 7,302 and the number in Karnataka has crossed the 5,000 mark. The country’s active case count now stands at 7,882,223. While 164 people have died in Maharashtra, 72 died in the Punjab. More than 43 lakh people were also vaccinated on Monday, bringing the number of vaccinations to 8,31,10,926.

Meanwhile, the Delhi government has imposed a nighttime curfew from 10 p.m. to 5 a.m. until April 30 following the increase in cases. It comes a day after Maharashtra imposed a full weekend lockdown and new restrictions to last until April.

Economy:

The Monetary Policy Committee (MPC) of the Monetary Policy Group led by RBI Governor Shaktikanta Das began its three-day deliberations on the next monetary policy on Monday. The Reserve Bank will announce the MPC’s resolution on Wednesday April 7, 2021.

Buzzing segment:

The Nifty Pharma Index rose 1.79% to 12,552.60. The index fell 0.37% yesterday.

Cadila Healthcare (+ 3.85%), Divi’s Labs (+ 2.27%), Sun Pharma (+ 1.97%), Cipla (+ 1.96%), Biocon (+ 1.92%), Lupine ( + 1.54%), Torrent Pharma (+ 1.52%), Dr. Reddy’s Labs (+ 1.43%) and Aurobindo Pharma (+ 1.18%) are progressing.

Featured Actions:

Bajaj Finance added 0.51% to Rs 4,989.05 after the company’s client franchise as of March 31, 2021 was 48.6 million, up 14.08% from 42.6 million as of March 31, 2021. March 2020. New loans recorded during the fourth quarter of FY21 were 5.5 million compared to 6 million in Q4 FY20.

Assets Under Management (AUM) stood at around 1.53 lakh crore as of March 31, 2021, compared to Rs 1.47 lakh crore as of March 31, 2020, recording an annual growth of 4.08%. The company’s deposit book increased by 20.41%, as it stood at around Rs 25,800 crore as of March 31, 2021, compared to Rs 21,427 crore as of March 31, 2020.

Panacea Biotec hit a 20% higher circuit at Rs 220.85 after the company announced cooperation with the Russian Direct Investment Fund (RDIF) to produce 100 million doses per year of Sputnik-V vaccine. The production of Sputnik-V at the Panacea Biotec sites will help facilitate the global supply of Sputnik V to RDIF’s international partners.

IRCON International rose 1.96% to Rs 90.95. The company said its board of directors approved and recommended the issuance of one free share for each share held on the date of registration.

Avenue Supermarts lost 0.06% to Rs 2,846.80. The operator of the supermarket chain said its autonomous operating income in the fourth quarter of March 2021 was Rs 7,303.13 crore, compared to Rs 6,193.53 crore in the same period. last year, registering a growth of 17.91% year-on-year. As of March 31, 2021, the total number of stores stood at 234.

The company added that the growth of its stores of two years and more for the months of January to February 2021 was 6% compared to the same period last year. These stores experienced a negative growth of 9.4% for the first 15 days of March 2021 compared to the first 15 days of March 2020. This is mainly due to the total or partial closures implemented from the beginning of March 2021 in the cities due to the increase in COVID. -19 cases.

Jindal Steel & Power (JSPL) added 1.82% to Rs 389.55. The steelmaker announced a 34.4% increase in production to 2.07 million tonnes in the fourth quarter of March 2021, up from 1.54 million tonnes in the fourth quarter of March 2020.

Q4 March 2021 sales increased 37.4% to 1.91 million tonnes versus 1.39 million tonnes in Q4 March 2020. Exports represented 27% of sales in Q4 March 2021 versus 15% in Q4 March 2020.

Mahindra Logistics slipped 0.42% to Rs 544.25. The company announced that it has partnered with Flipkart as one of its key logistics partners to help accelerate the deployment of electric vehicles across its logistics fleet in the country.

RBL Bank advanced 2.88% to Rs 212.30. Total bank deposits jumped 26% to Rs 73,123 crore as of March 31, 2021 from Rs 57,812 crore as of March 31, 2020. Gross advances increased 2% to Rs 60,012 crore as of March 31, 2020 against Rs 58,966 crore as of March 31, 2020. Current account to savings account (CASA) climbed 36% to Rs 23,264 crore as of March 31, 2021 from Rs 17,116 crore as of March 31, 2020. The CASA ratio stood at 31.8 % as of March 31, 2021 versus 29.6% as of March 31, 2020.

Adani Ports & Special Economic Zone (APSEZ) jumped 13.63% to Rs 843.30. The company handled 73 MMT (million metric tons) freight volume in the fourth quarter of fiscal year 21, growing 27% year-on-year (year-on-year). APSEZ handled a cargo volume of 247 MMT in fiscal year 21, registering growth of 11% on an annual basis.

Sobha jumped 13.78% to Rs 489.20. The company’s total new sales jumped 47.69% to 13,37,707 square feet in the fourth quarter of FY21, from 9,05,710 square feet in the fourth quarter of FY20. Sales rose 54.35% to Rs 1,072 crore in Q4 FY21 from Rs 694.50 crore in Q4 FY20.

Mukand added 0.54% to Rs 84.55. Over the past month, the stock has risen 43.34% while the benchmark Sensex has lost 2.48%.

Referring to the recent price movement, Mukand clarified on Monday April 5 that in the recent past there had been several positive internal or external developments regarding the company. The company reduced its debt and other interest-bearing debt by over Rs 975 crore through a promoter-backed line of credit; completed the first tranche of the sale of the 30% stake in Mukand Sumi Special Steel, a joint venture, for Rs 713.61 crore; and he also transferred approximately 55 acres of the company’s surplus leasehold land to Thane for a consideration of Rs 801.51 crore.

Global markets:

European stocks rose on Tuesday as trading resumed after the Easter break. Most Asian indices rose on Tuesday April 6, 2021. Hong Kong markets were closed for a holiday today.

China’s service sector activity increased in March, according to a private sector survey released on Tuesday. The Caixin / Markit Service Purchasing Managers Index for March stood at 54.3, down from 51.5 in February.

US stocks rallied on Monday, with the Dow Jones and S&P 500 closing at record highs, as a series of strong economic data bolstered investor optimism for the economic reopening.

The Dow Jones Industrial Average rose 373.98 points to 33,527.19, a closing record. The S&P 500 gained 1.4% to 4,077.91, also hitting a new closing high. The tech-rich Nasdaq Composite also climbed 1.7% to 13,705.59.

Treasury Secretary Janet Yellen pleaded Monday for a global minimum corporate tax to prevent companies from moving to find lower rates.

Meanwhile, a measure of US service sector activity hit an all-time high in March. The Institute for Supply Management’s non-manufacturing activity index jumped to 63.7 last month. It was the highest in survey history and followed by 55.3 in February.

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

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