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| As on Apr 16, 2021 12:00 AM |
Your results on : Mid Session |
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| The barometer indices were trading near the day's high level with steep gains in mid-afternoon trade. The Nifty hovered a tad above 14,700 mark. All the sectoral indices on the NSE traded in the green. At 14:26 IST, the barometer index, the S&P BSE Sensex, added 269.36 points or 0.55% at 49,073.89. The Nifty 50 index rallied 111.6 points or 0.77% at 14,693.45. The broader market outperformed the benchmarks. The S&P BSE Mid-Cap index added 1.6% while the S&P BSE Small-Cap index added 1.36%. Buyers outnumbered sellers. On the BSE, 1,775 shares rose and 1,061 shares fell. A total of 154 shares were unchanged. COVID-19 Update: Total COVID-19 confirmed cases worldwide stood at 13,91,09,041 with 29,86,608 deaths. India reported 15,69,743 active cases of COVID-19 infection and 1,74,308 deaths while 1,25,47,866 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India. India crossed the grim milestone of over 2 lakh COVID-19 cases being reported in a day. Tough restrictions are in place in major cities like Delhi and Mumbai with weekend curfews and weekday restrictions being imposed by the administration, to check the spread of the virus. Broader Market Gainers: Glenmark Pharmaceuticals (up 5.8%), JSW Energy (up 5.68%), Varroc Engineering (up 5.14%), Adani Transmission (up 5%), 3M India (up 3.95%) and Tata Power (up 3.56%) were top gainers in BSE Mid Cap index. Hester Biosciences (up 16.65%), DCM Shriram (up 16%), Angel Broking (up 11.63%), Repco Home Finance (up 11.11%), Praj Industries (up 8.36%) and Bajaj Electric (up 7.85%) were top gainers in BSE Small Cap. Numbers to Track: In the foreign exchange market, the partially convertible rupee rose to 74.42 compared with its previous closing of 74.93. The yield on 10-year benchmark federal paper rose to 6.161% as compared to its previous close of 6.126%. MCX Gold futures for 4 June 2021 settlement fell 0.49% to Rs 46,944. The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, rose 0.01% to 91.623. In the commodities market, Brent crude for June 2021 settlement rose 8 cents to $67.02 a barrel. The contract increased 0.54% to settle at $66.94 in the previous trading session. Stocks in Spotlight: National Aluminium Company (NALCO) rose 3.02% to Rs 59.75 after the company said it has been granted the mining lease of Utkal-E coal block in Odisha. The lease has been granted by the Department of Steel & Mines, Government of Odisha, through a notification issued on April 12. As per the notification, the mining lease of Utkal-E coal block is over an area of 523.73 hecatres in villages Nandichhod, Gopinathpur Jungle, Kundajhari Jungle, Kosala & Korada under Chendipada Tahasil of Angul District. National Fertilizers advanced 1.28%. The Department of Investment and Public Asset Management (DIPAM), Ministry of Finance, Government of India has intimated regarding issue of RFP for engagement of Legal Advisors, Merchant Bankers and Selling Brokers for the Disinvestment of 20% paid up equity capital in the company out of Government of India's shareholding through the Offer for Sale by promoters through the Stock Exchanges method in the domestic market.
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The domestic equity indices were trading with decent gains in the afternoon trade. The Nifty hovered tad above 14,650 mark. Barring the banks stocks, buying was seen across the board. At 13:20 IST, the barometer index, the S&P BSE Sensex, rose 111.21 points or 0.23% at 48,914.89. The Nifty 50 index gained 70 points or 0.48% at 14,651.45. Asian Paints (up 3.66%), HDFC (up 0.73%) and M&M (up 3.48%) boosted the indices. The broader market outperformed the benchmarks. The S&P BSE Mid-Cap index added 1.43%. The S&P BSE Small-Cap index rose 1.32%. Buyers outnumbered sellers. On the BSE, 1,746 shares rose and 1,036 shares fell. A total of 146 shares were unchanged. COVID-19 Update: Total COVID-19 confirmed cases worldwide stood at 13,91,09,041 with 29,86,608 deaths. India reported 15,69,743 active cases of COVID-19 infection and 1,74,308 deaths while 1,25,47,866 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India. India crossed the grim milestone of over 2 lakh COVID-19 cases being reported in a day. Tough restrictions are in place in major cities like Delhi and Mumbai with weekend curfews and weekday restrictions being imposed by the administration, to check the spread of the virus. Economy: India's merchandise exports rose 60.3% at $34.50 billion in March as compared to the same month last year, while country's imports jumped 54% to $48.40 billion, Ministry of Commerce & Industry data showed. During the 2020-21 financial year, India's overall Merchandise and Services exports dipped 6.6% to $493.20 billion over the same period last year. Overall imports in April-March 2020-21 declined 16.5% to $505.90 billion. Gainers & Losers: Hindalco Industries (up 5.71%), Tata Motors (up 3.51%) and Ultratech Cement (up 2.72%) were major gainers in Nifty 50 index. ICICI Bank (down 1.25%), TCS (down 0.72%), State Bank of India (down 0.70%), Bajaj Finance (down 0.58%) and Reliance Industries (RIL) (down 0.53%) were major losers in Nifty 50 index. Earnings Impact: Wipro rallied 9.21% after the IT major's consolidated net profit grew 27.78% to Rs 2,972.30 crore while revenue increased 3.4% to Rs 16,245.40 crore in Q4 FY21 over Q4 FY20. The IT major's consolidated net profit rose 0.14% and its revenue climbed 3.67% in Q4 FY21 over Q3 FY21. Profit before tax (PBT) declined by 2.6% on quarter-on-quarter basis and it rose by 26.44% on year-on-year basis to Rs 3,749.90 crore in Q4 FY21. Wipro expects revenue from its IT services business to be in the range of $2,195 million to $2,238 million for the quarter ending 30 June 2021. This translates to a sequential growth of 2% to 4%. The company added 52 new customers in the quarter ending 31 March 2021. The IT major's attrition rate (on TTM basis) stood at 12.1% in Q4 FY21 as against 11% in Q3 FY21 and 14.7% in Q4 FY20. Stocks in Spotlight: Sadbhav Infrastructure Project rose 0.99%. The company said that it has raised Rs 550 crore through allotment of non-convertible debentures (NCDs) on a private placement basis. Larsen & Toubro (L&T) gained 0.34%. The construction arm of Larsen & Toubro (L&T) secured significant orders from clients for its various businesses. The company's power transmission and distribution business won orders to design and construct two 132/11 kV substations in Dubai, UAE. The factories business has secured an order from a leading cement manufacturer to construct a 3.5 million tonnes per annum (MTPA) brownfield cement plant in Nimbahera, Rajasthan. The scope includes civil, mechanical and equipment erection works. The railways strategic business unit that resides within the transportation infrastructure business has won an order from the Central Organisation for Railway Electrification (CORE). G M Breweries added 0.86%. The liquor maker informed that closure of liquor stores across Maharashtra may impact the company's sales during April 2021. With a view to contain the resurging coronavirus, the state government of Maharashtra has ordered the closure of all shops selling non-essential commodities, including liquor outlets, throughout the state till 30 April 2021. Even though the manufacturing plant of G M Breweries is operational, the closure of retail outlets is likely to have some impact on the sales of the company during the month of April 2021, it said. Global Markets: Shares in Europe and Asia advanced on Friday as investors reacted to the release of Chinese economic data. China's gross domestic product surged 18.3% in the first three months of the year from a year ago, the country's National Bureau of Statistics said Friday. The surge in growth comes off a contraction in the first quarter of last year, when the economy shrank by 6.8% during the height of the domestic outbreak of COVID-19. Meanwhile, China's retail sales jumped 34.2% in March. Industrial production rose 14.1% in March. In the US, the S&P 500 and Dow Jones indexes hit record highs on Thursday, as upbeat earnings reports from companies including Bank of America and BlackRock as well as a strong rebound in March retail sales bolstered hopes of a broader economic rebound. US retail sales surged 9.8% in March as additional stimulus sent consumer spending soaring, the Commerce Department reported Thursday. A separate report on Thursday showed that first-time filings for unemployment insurance dropped to the lowest level since March 2020. The Labor Department reported 5,76,000 new jobless claims for the week ended April 10.
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Key equity indices sharply pared gains and traded near the flat line in early afternoon trade. Pharma shares advanced for the third day. The Nifty slipped below the 14,650 mark. At 12:20 IST, the barometer index, the S&P BSE Sensex, was up 74.86 points or 0.15% to 48,878.54. The Nifty 50 index added 55.90 points or 0.38% to 14,637.35. In the broader market, the S&P BSE Mid-Cap index rose 1.25% while the S&P BSE Small-Cap index advanced 1.23%. The market breadth was strong. On the BSE, 1744 shares rose and 948 shares fell. A total of 143 shares were unchanged. Derivatives: The NSE's India VIX, a gauge of market's expectation of volatility over the near term, shed 0.99% to 20.68. The Nifty 29 April 2021 futures were trading at 14,660.05, at a premium of 22.7 points as compared with the spot at 14,637.35. The Nifty option chain for 29 April 2021 expiry showed maximum Call OI of 24.8 lakh contracts at the 15,000 strike price. Maximum Put OI of 38.6 lakh contracts was seen at 14,000 strike price. Buzzing Index: The Nifty Pharma index rose 0.67% to 13,074.30, extending gains for second day. The index has added 2.08% in two sessions. Aurobindo Pharma (up 2.58%), Cadila Healthcare (up 2%), Cipla (up 0.78%), Dr. Reddy's Labs (up 0.76%), Biocon (up 0.54%), Lupin (up 0.39%), Sun Pharma (up 0.28%) and Alkem Laboratories (up 0.28%) advanced. Economy: India's merchandise exports rose 60.3% at $34.5 billion in March as compared to the same month last year, while country's imports jumped 54% to $48.4 billion, Ministry of Commerce & Industry data showed. During the 2020-21 financial year, India's overall Merchandise and Services exports dipped 6.6% to $493.2 billion over the same period last year. Overall imports in April-March 2020-21 declined 16.5% to $505.9 billion.
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The domestic equity barometers extended gains and traded near the day's high in mid-morning trade. Shares rose across the board with autos, IT, metals and PSU banks at the the fore. The Nifty was hovering above the 14,650 mark. At 11:20 IST, the barometer index, the S&P BSE Sensex, was up 226.54 points or 0.46% to 49,030.22. The Nifty 50 index added 86.35 points or 0.59% to 14,667.80. In the broader market, the S&P BSE Mid-Cap index and the S&P BSE Small-Cap index, both advanced 1.30%. The market breadth was strong. On the BSE, 1752 shares rose and 820 shares fell. A total of 132 shares were unchanged. Economy: India's merchandise exports rose 60.3% at $34.5 billion in March as compared to the same month last year, while country's imports jumped 54% to $48.4 billion, Ministry of Commerce & Industry data showed. During the 2020-21 financial year, India's overall Merchandise and Services exports dipped 6.6% to $493.2 billion over the same period last year. Overall imports in April-March 2020-21 declined 16.5% to $505.9 billion. COVID-19 Update: Total COVID-19 confirmed cases worldwide stood at 138,851,279 with 2,984,413 deaths. India reported 1,569,743 active cases of COVID-19 infection and 174,308 deaths while 12,547,866 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.] Buzzing Index: The Nifty Auto index rose 1.63% to 9,849. The index had declined 1.29% to end at 9,691.45 yesterday. Mahindra & Mahindra (up 3.40%), Tata Motors (up 3.01%), TVS Motor Company (up 2.61%), Hero MotoCorp (up 2%), Ashok Leyland (up 1.83%), Bharat Forge (up 1.63%), Eicher Motors (up 1.61%), Bajaj Auto (up 0.98%) and Maruti Suzuki (up 0.33%) advanced. Stocks in Spotlight: Antony Waste Handling Cell rose 2.38% to Rs 254.10 after the economic activity in the regions serviced by the firm has seen a sequential improvement for the third consecutive quarter. The company's total operating revenue (tipping revenue from C&T and waste processing) has shown a growth of approximately 4.4% for Q4 FY21 as compared to Q3 FY21.Total tonnage handled by the collection & transportation (C&T) business (excluding those projects with fixed shifts/trips) in Q4 FY21 has reported approximately 2.1% growth over Q3 FY21. Additionally, total waste processed by the company, during Q4 FY21, has improved by approximately 2.9% as compared to Q3 FY21. Total compost sales during Q4 FY21 stood at 4,834 tons as compared to 2,291 tons in Q3 FY21. Balaji Amines added 0.51% to Rs 1873. India Ratings & Research (Ind-Ra) has affirmed Balaji Amines' long-term issuer rating at 'IND AA-' with a stable outlook. Kirloskar Ferrous Industries jumped 5.31% at Rs 189.25. The company's board will consider final dividend for the financial year 2020-2021 on 5 May 2021. On the same day, the board will also consider financial results of the company for the quarter and the year ended 31 March 2021. Global Markets: Asian were trading higher on Friday as investors reacted to the release of Chinese economic data. China's gross domestic product surged 18.3% in the first three months of the year from a year ago, the country's National Bureau of Statistics said Friday. The surge in growth comes off a contraction in the first quarter of last year, when the economy shrank by 6.8% during the height of the domestic outbreak of Covid-19. Meanwhile, China's retail sales jumped 34.2% in March. Industrial production rose 14.1% in March. In the US, the S&P 500 and Dow Jones indexes hit record highs on Thursday, as upbeat earnings reports from companies including Bank of America and BlackRock as well as a strong rebound in March retail sales bolstered hopes of a broader economic rebound. Retail sales surged 9.8% in March as additional stimulus sent consumer spending soaring, the Commerce Department reported Thursday. A separate report on Thursday showed that first-time filings for unemployment insurance dropped to the lowest level since March 2020. The Labor Department reported 576,000 new jobless claims for the week ended April 10.
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The key equity indices reversed early losses and hit fresh intraday high in morning trade. The Nifty was currently trading above the 14,650 mark. Metal shares extended gains for the third day. At 10:28 IST, the barometer index, the S&P BSE Sensex, was up 186.26 points or 0.38% to 48,989.94. The Nifty 50 index added 80.05 points or 0.55% to 14,661.50. In the broader market, the S&P BSE Mid-Cap index rose 1.22% while the S&P BSE Small-Cap index gained 1.29%. The market breadth was strong. On the BSE, 1675 shares rose and 745 shares fell. A total of 114 shares were unchanged. Economy: India's merchandise exports rose 60.3% at $34.5 billion in March as compared to the same month last year, while country's imports jumped 54% to $48.4 billion, Ministry of Commerce & Industry data showed. During the 2020-21 financial year, India's overall Merchandise and Services exports dipped 6.6% to $493.2 billion over the same period last year. Overall imports in April-March 2020-21 declined 16.5% to $505.9 billion. COVID-19 Update: Total COVID-19 confirmed cases worldwide stood at 138,851,279 with 2,984,413 deaths. India reported 1,569,743 active cases of COVID-19 infection and 174,308 deaths while 12,547,866 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.] Buzzing Index: The Nifty Metal index gained 0.87% to 4,435.85, rising for third consecutive trading session. The index has rallied 5.7% in three trading sessions. NMDC (up 1.63%), Hindustan Zinc (up 1.61%), National Aluminium Company (up 1.47%), Vedanta (up 1.46%), Steel Authority of India (up 0.97%) Jindal Steel & Power (up 0.66%) and Tata Steel (up 0.31%) were top gainers in metal space. Earnings Impact: Wipro jumped 7.98% after the IT major's consolidated net profit grew 27.78% to Rs 2,972.30 crore while revenue increased 3.4% to Rs 16245.40 crore in Q4 FY21 over Q4 FY20. The IT major's consolidated net profit rose 0.14% and its revenue climbed 3.67% in Q4 FY21 over Q3 FY21. Profit before tax (PBT) declined by 2.6% on quarter-on-quarter basis and it rose by 26.44% on year-on-year basis to Rs 3749.90 crore in Q4 FY21. Wipro expects revenue from its IT services business to be in the range of $2,195 million to $2,238 million for the quarter ending 30 June 2021. This translates to a sequential growth of 2% to 4%. The company added 52 new customers in the quarter ending 31 March 2021. The IT major's attrition rate (on TTM basis) stood at 12.1% in Q4 FY21 as against 11% in Q3 FY21 and 14.7% in Q4 FY20. Stocks in Spotlight: Ashoka Buildcon jumped 7.53% to Rs 95.65 after the company received a Letter of Award (LOA) from Gujarat Rail Infrastructure Development Corporation. The received LOA is for gauge conversion of Bechraji to Ranuj section to broad gauge with 25 KV AC electrification in Ahmedabad Division of Western Railway. The company announced that the accepted project cost is Rs 333.625 crore and has a total length of 38.153 kilometer. Quess Corp rose 1.43%. The company announced the acquisition of 30% stake in Conneqt Business Solutions Ltd. (Conneqt) pursuant to the Put Option notice by Tata Sons. With this transaction, Conneqt will become a wholly owned subsidiary of Quess. Conneqt is India's second largest domestic CLM and BPM player delivering unparalleled customer experience to 120+ clients in India, US, UK and Middle East. Quess had acquired 51% of Conneqt in November 2017 and further increased its stake in Conneqt from 51% to 70% in May 2019 via infusion of primary capital, which was used to fund the acquisition of Allsec Technologies (Allsec), a listed CLM and HRO services provider.
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Key benchmark indices are trading with modest losses in early trade on selling pressure in index pivotals. At 9:25 IST, the barometer index, the S&P BSE Sensex, was down 78.24 points or 0.16% at 48,725.44. The Nifty 50 index was down 12.15 points or 0.08% at 14,569.30. Most Asian stocks are trading lower. The S&P BSE Mid-Cap index was up 0.17%. The S&P BSE Small-Cap index was up 0.34%. The market breadth, indicating the overall health of the market, is strong. On the BSE, 1108 shares rose and 622 shares fell. A total of 86 shares were unchanged. Stocks in news: Wipro jumped 5%. The company's consolidated net profit grew 27.78% to Rs 2,972.30 crore while revenue increased 3.4% to Rs 16245.40 crore in Q4 FY21 over Q4 FY20. The IT major's consolidated net profit rose 0.14% and its revenue climbed 3.67% in Q4 FY21 over Q3 FY21. Wipro expects revenue from its IT services business to be in the range of $2,195 million to $2,238 million for the quarter ending 30 June 2021. This translates to a sequential growth of 2% to 4%. Ashoka Buildcon surged 8.83%. The company has received a Letter of Award (LOA) from Gujarat Rail Infrastructure Development Corporation (G-RIDE) for the Project viz. 'Gauge Conversion of Bechraji (63.83 KM) - Ranuj (101.983 KM) Section, Total Length of 38.153 KM Metre Gauge to Broad Gauge with 25 KV AC Electrification in Ahmedabad. The accepted project cost is Rs 333.625 crore. Aarti Drugs rose 0.65%. ICRA has reaffirmed credit rating on commercial paper and term loan and assigned credit rating on Long term- Fund based term loan, Long term- Fund based CC and Short term- Fund based/Non-fund based facilities of the company. National Fertilizers advanced 2.74%. The Department of Investment and Public Asset Management (DIPAM), Ministry of Finance, Government of India has intimated regarding issue of RFP for engagement of Legal Advisors, Merchant Bankers and Selling Brokers for the Disinvestment of 20% paid up equity capital in the company out of Government of India's shareholding through the Offer for Sale by promoters through the Stock Exchanges method in the domestic market. Quess Corp rose 1.91%. Quess Corp announced the acquisition of 30% stake in Conneqt Business Solutions Ltd. (Conneqt) pursuant to the Put Option notice by Tata Sons Pvt. Ltd. (Tata). With this transaction, Conneqt will become a wholly owned subsidiary of Quess. Global Markets: Overseas, Asian stocks are trading largely lower on Friday as investors reacted to the release of Chinese economic data. China's gross domestic product surged 18.3% in the first three months of the year from a year ago, the country's National Bureau of Statistics said Friday. The surge in growth comes off a contraction in the first quarter of last year, when the economy shrank by 6.8% during the height of the domestic outbreak of Covid-19. Meanwhile, China's retail sales jumped 34.2% in March. Industrial production rose 14.1% in March. In US, the S&P 500 and Dow Jones indexes hit record highs on Thursday, as upbeat earnings reports from companies including Bank of America and BlackRock as well as a strong rebound in March retail sales bolstered hopes of a broader economic rebound. Retail sales surged 9.8% in March as additional stimulus sent consumer spending soaring, the Commerce Department reported Thursday. A separate report on Thursday showed that first-time filings for unemployment insurance dropped to the lowest level since March 2020. The Labor Department reported 576,000 new jobless claims for the week ended April 10. Back home, key equity barometers reversed intraday losses and ended with decent gains on Thursday. Trading was volatile as rising COVID-19 cases continue to spook investors. The barometer index, the S&P BSE Sensex, gained 259.62 points or 0.53% to 48,803.68. The Nifty 50 index added 76.65 points or 0.53% to close at 14,581.45. Foreign portfolio investors (FPIs) bought shares worth Rs 979.70 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 526.63 crore in the Indian equity market on 15 April, provisional data showed.
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| Equity indices pared most of the losses and traded near the flat line in mid-afternoon trade. The Nifty hovered around the crucial 14,500 mark. Gains were capped as rising COVID-19 cases continue to weigh on investors' sentiment. At 14:29 IST, the barometer index, the S&P BSE Sensex, was down 39 points or 0.08% at 48,504.49. The Nifty 50 index fell 4.8 points or 0.03% at 14,500. The broader market saw selling pressure. The S&P BSE Mid-Cap index fell 0.49% while the S&P BSE Small-Cap index was down 0.21%. The market breadth was weak. On the BSE, 1083 shares rose and 1737 shares fell. A total of 158 shares were unchanged. COVID-19 Update: Total COVID-19 confirmed cases worldwide stood at 138,056,297 with 2,971,539 deaths. India reported 14,71,877 active cases of COVID-19 infection and 173,123 deaths while 124,29,564 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India. India on Wednesday reported 2,00,739 new COVID-19 cases and 1,038 deaths in last 24 hours, according to data from the Union Health Ministry. The total COVID19 vaccinations have crossed the 11.43 crore mark with more than 31.39 lakh vaccine doses were administered till 8 pm yesterday. A total of 69,974 COVID Vaccination Centres (CVCs) were operational, marking a rise of an average of 24,000 operational Vaccination Centres ( 45,000 CVCs on an average are functional on any given day). Workplace vaccinations have also enabled a high turnout of beneficiaries. Numbers to Track: In the foreign exchange market, the partially convertible rupee fell to 75.0575 compared with its previous closing of 75.0550. The yield on 10-year benchmark federal paper rose to 6.048% as compared to its previous close of 6.011%. MCX Gold futures for 4 June 2021 settlement rose 0.5% to Rs 46,840. The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, fell 0.06 to 91.610. In the commodities market, Brent crude for June 2021 settlement fell 53 cents to $66.05 a barrel. The contract surged 4.57% to settle at $66.58 in the previous trading session. Buzzing Index: The Nifty Metal index rose 1.54% to 4,404.60, rising for second trading day. The index has rallied nearly 5% in two trading sessions. Vedanta (up 3.44%), National Aluminium Company (up 3.4%), Steel Authority of India (up 2.87%), Tata Steel (up 2.62%), NMDC (up 2.21%), Jindal Steel & Power (up 1.6%) and Hindalco Industries (up 1.39%) were top gainers in metal space.
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The domestic equities were trading with modest losses in afternoon trade. At 13:20 IST, the barometer index, the S&P BSE Sensex, fell 211.95 points or 0.44% at 48,332.11. The Nifty 50 index lost 64.40 points or 0.44% at 14,440.40. Infosys (down 3.51%), Reliance Industries (down 0.43%) and Maruti Suzuki India (down 2.84%) were major drags. In the broader market, the S&P BSE Mid-Cap index skid 0.64%. The S&P BSE Small-Cap index declined 0.35%. Sellers outnumbered buyers. On the BSE, 997 shares rose and 1,759 shares fell. A total of 156 shares were unchanged. Foreign portfolio investors (FPIs) sold shares worth Rs 730.81 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 243.80 crore in the Indian equity market on 13 April 2021, provisional data showed. COVID-19 Update: Total COVID-19 confirmed cases worldwide stood at 13,82,78,420 with 29,73,179 deaths. India reported 14,71,877 active cases of COVID-19 infection and 1,73,123 deaths while 1,24,29,564 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India. India on Wednesday reported 2,00,739 new COVID-19 cases and 1,038 deaths in last 24 hours, according to data from the Union Health Ministry. The total COVID-19 vaccinations have crossed the 11.43 crore mark with more than 31.39 lakh vaccine doses were administered till 8 PM yesterday. A total of 69,974 COVID Vaccination Centres (CVCs) were operational, marking a rise of an average of 24,000 operational Vaccination Centres ( 45,000 CVCs on an average are functional on any given day). Workplace vaccinations have also enabled a high turnout of beneficiaries. Economy: India's wholesale price-based inflation shot up to over 8-year high of 7.39% in March on rising crude oil and metal prices. This is the third straight month of up-tick seen in the wholesale price index (WPI) based inflation. The WPI inflation was 4.17% in February and 0.42% in March 2020. The prices of crude oil, petroleum products and basic metal substantially increased in March 2021 compared with the corresponding month of last year. Also, due to nationwide lockdown, the WPI index for the month of March 2020 (120.4) was computed with relatively low response rate. Gainers & Losers: Cipla (up 3.15%), ONGC (up 2.45%), Divi's Laboratories (up 2.19%) and TCS (up 2.19%) were major gainers in Nifty 50 index. Grasim Industries (down 4.65%), Eicher Motors (down 4.16%), Ultratech Cement (down 2.94%) and IndusInd Bank (down 2.89%) were major losers in Nifty 50 index. Nifty Result Today: IT major Wipro was up 2.79% ahead of its quarterly result today. Earning Impact: Infosys skid 3.51%. On a consolidated basis, the IT major reported 2.3% decline in net profit to Rs 5,076 crore on 1.5% increase in revenues to Rs 26,311 crore in Q4 March 2021 over Q3 December 2020. The company's consolidated net profit rose 17.5% and revenues rose 13.1% in Q4 March 2021 over Q4 March 2020. In its outlook for FY22, Infosys has guided for 12% to 14% sales growth in constant currency terms in 2021-22 and an operating margin band of 22% to 24%. The company reported 15.2% voluntary attrition rate for the quarter ended 31 March. It was 10% during the October-December quarter, Infosys said in the regulatory filing. The total number of employees at Bengaluru-based company stood at over 2.59 lakh as on 31 March, 2021. Stocks in Spotlight: UPL slipped 0.12%. The Queensland Supreme Court has ruled in favour of Advanta Seeds, a subsidiary of UPL. The company, in a regulatory filing, said that: We are pleased that the Supreme Court of Queensland in Australia has dismissed a class action litigation against Advanta Seeds Pty Ltd, Company's subsidiary in Australia. This class action, funded by a UK based litigation funder, alleged that seeds sold by Advanta in 2010/2011 to certain growers in Queensland and News South Wales region of Australia, were contaminated. Larsen & Toubro Infotech (L&T Infotech) dropped 2.30%. The board approved the appointment of Anil Rander as the Chief Financial Officer (CFO) and Key Managerial Personnel (KMP) of the company. Tata Motors fell 0.83%. The Tata Motors Group global wholesales in Q4 FY21, including Jaguar Land Rover (JLR), stood at 3,30,125 units, higher by 43%, compared with Q4 FY20. Global wholesales of Tata Motors' commercial vehicles and Tata Daewoo range in Q4 FY21 were at 1,09,428, higher by 55% over Q4 FY20. Global wholesales of all passenger vehicles in Q4 FY21 stood at 2,20,697 as against Q4 FY20, registering a growth of 39% year-on-year (Y-o-Y). Global wholesales for Jaguar Land Rover (JLR) were at 1,36,461 vehicles (JLR number for Q4 FY21 includes CJLR volumes of 13,772 units). Jaguar wholesales for the quarter were 31,814 vehicles, while Land Rover wholesales for the quarter were 1,04,647 vehicles. The luxury brand JLR brings in most of Tata Motor's revenue. Global Markets: European shares were trading higher while most Asian stocks advanced on Thursday, 15 April 2021. In the US, Wall Street indexes closed mixed on Wednesday, with the Nasdaq Composite and S&P 500 falling despite another record intraday high for the latter and big banks' stellar results on the first day of earnings season. Shares of Goldman Sachs Group Inc and Wells Fargo & Co rose on bumper first-quarter profits. Goldman capitalized on record levels of global deal making activity, and Wells reduced bad loan provisions and got a grip on costs tied to its sales practices scandal. The Federal Reserve will continue to support the recovery, and will start tapering asset purchases well before policy makers consider raising interest rates, Chairman Jerome Powell told the Economic Club of Washington Wednesday. In coronavirus developments, a U.S. Centers for Disease Control and Prevention panel decided Wednesday to postpone a decision on Johnson and Johnson's Covid-19 vaccine following the development of a rare but potentially life-threatening blood-clotting disorder in six women. On Tuesday, the U.S. Food and Drug Administration asked states to temporarily halt using J&J's COVID-19 vaccine out of an abundance of caution.
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| Barometers pared losses in early afternoon trade. The Nifty reclaimed 14,400 level. Rising COVID-19 cases continue to weigh on investors' sentiment. At 12:26 IST, the barometer index, the S&P BSE Sensex, tumbled 303.81 points or 0.63% at 48,240.49. The Nifty 50 index declined 74.95 points or 0.52% at 14,429.95. The broader market saw selling pressure. The S&P BSE Mid-Cap index fell 0.65% while the S&P BSE Small-Cap index was down 0.51%. The market breadth was weak. On the BSE, 890 shares rose and 1805 shares fell. A total of 143 shares were unchanged. Economy: The annual rate of wholesale price inflation (WPI) stood at 7.39% (provisional) for the month of March 2021 over March 2020. However, month-on-month (March 2021 over February 2021) rate of inflation stood at 1.57%. The prices of crude oil, petroleum products and basic metal substantially increased in March 2021 as compared to the corresponding month of last year. Also, due to nationwide lockdown, the WPI index for the month of March 2020 (120.4) was computed with relatively low response rate. Derivatives: The NSE's India VIX, a gauge of market's expectation of volatility over the near term, rose 3.61% to 21.2. The Nifty 29 April 2021 futures were trading at 14,454.50, at a premium of 22.3 points as compared with the spot at 14,432.20. The Nifty option chain for 29 April 2021 expiry showed maximum Call OI of 25.2 lakh contracts at the 15,000 strike price. Maximum Put OI of 33.4 lakh contracts was seen at 14,000 strike price. Buzzing Index: The Nifty PSU Bank slipped 1.96% to 2,037 on profit booking after 4.49% jump in the previous session. Indian Overseas Bank (down 6.67%), Bank of Maharashtra (down 6.48%), Indian Bank (down 5.38%), Central Bank of India (down 4.14%), Bank of India (down 3.15%), Union Bank of India (down 2.71%) and Bank of Baroda (down 2.39%) were top losers in PSU Bank space. Stocks in Spotlight: L&T fell 0.85%. The heavy engineering arm of Larsen & Toubro (L&T) won significant contracts for its various business segments in Q4 of FY21. According to L&T's classification, the value of the said orders lie between Rs 1,000 crore to Rs 2,500 crore. NMDC gained 1.34%. The PSU miner hiked prices of iron ore with effect from Wednesday, 14 April 2021. The prices of lump ore rose 18.80% to Rs 6,950 per ton and the prices of iron ore fines jumped 10.96% to Rs 5,060 per ton. The prices are effective as on 14 April 2021. COVID-19 Update: Total COVID-19 confirmed cases worldwide stood at 138,056,297 with 2,971,539 deaths. India reported 14,71,877 active cases of COVID-19 infection and 173,123 deaths while 124,29,564 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India. India on Wednesday reported 2,00,739 new COVID-19 cases and 1,038 deaths in last 24 hours, according to data from the Union Health Ministry. The total COVID19 vaccinations have crossed the 11.43 crore mark with more than 31.39 lakh vaccine doses were administered till 8 pm yesterday. A total of 69,974 COVID Vaccination Centres (CVCs) were operational, marking a rise of an average of 24,000 operational Vaccination Centres ( 45,000 CVCs on an average are functional on any given day). Workplace vaccinations have also enabled a high turnout of beneficiaries.
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| Equity indices extended losses and hit a fresh intraday low in mid morning trade. The Nifty traded below the crucial 14,400 mark. Barring pharma and metal, all the sectoral indices on the NSE were in the red. Rising COVID-19 cases continue to weigh on investors' sentiment. At 11:30 IST, the barometer index, the S&P BSE Sensex, tumbled 519.58 points or 1.07% at 48,024.49. The Nifty 50 index declined 137.05 points or 0.94% at 14,367.95. Selling was broad based. The S&P BSE Mid-Cap index fell 1.48% while the S&P BSE Small-Cap index was down 1.1%. The market breadth turned negative. On the BSE, 773 shares rose and 1816 shares fell. A total of 142 shares were unchanged. COVID-19 Update: Total COVID-19 confirmed cases worldwide stood at 138,056,297 with 2,971,539 deaths. India reported 14,71,877 active cases of COVID-19 infection and 173,123 deaths while 124,29,564 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India. India on Wednesday reported 2,00,739 new COVID-19 cases and 1,038 deaths in last 24 hours, according to data from the Union Health Ministry. The total COVID19 vaccinations have crossed the 11.43 crore mark with more than 31.39 lakh vaccine doses were administered till 8 pm yesterday. A total of 69,974 COVID Vaccination Centres (CVCs) were operational, marking a rise of an average of 24,000 operational Vaccination Centres ( 45,000 CVCs on an average are functional on any given day). Workplace vaccinations have also enabled a high turnout of beneficiaries. Buzzing Index: The Nifty Auto index slipped 2.4% to 9,582.65. The index jumped 4.28% in the previous trading session. Eicher Motors (down 4.22%), Escorts (down 3.86%), Ashok Leyland (down 3.73%), Maruti Suzuki India (down 3.52%), TVS Motor Company (down 2.58%), MRF (down 2.25%), Mahindra & Mahindra (down 2.08%), and Bajaj Auto Ltd (down 1.79%) were top losers in auto space. Global Markets: Asian stocks were mixed on Thursday. In the US, Wall Street indexes closed mixed on Wednesday, with the Nasdaq Composite and S&P 500 falling despite another record intraday high for the latter and big banks' stellar results on the first day of earnings season. Shares of Goldman Sachs Group Inc and Wells Fargo & Co rose on bumper first-quarter profits. Goldman capitalized on record levels of global dealmaking activity, and Wells reduced bad loan provisions and got a grip on costs tied to its sales practices scandal. The Federal Reserve will continue to support the recovery, and will start tapering asset purchases “well before” policy makers consider raising interest rates, Chairman Jerome Powell told the Economic Club of Washington Wednesday. In coronavirus developments, a U.S. Centers for Disease Control and Prevention panel decided Wednesday to postpone a decision on Johnson and Johnson's Covid-19 vaccine following the development of a rare but potentially life-threatening blood-clotting disorder in six women. On Tuesday, the U.S. Food and Drug Administration asked states to temporarily halt using J&J's Covid-19 vaccine “out of an abundance of caution.”
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Key benchmark indices reversed early gains and hit fresh intraday low in morning trade. Rising COVID-19 cases continue to weigh on investors' sentiment. At 10:30 IST, the barometer index, the S&P BSE Sensex, was down 371.43 points or 0.77% at 48,172.49. The Nifty 50 index declined 105 points or 0.73% at 14,399.95. In the broader market, the S&P BSE Mid-Cap index fell 1.28% while the S&P BSE Small-Cap index was down 1.11%. The market breadth turned negative. On the BSE, 751 shares rose and 1687 shares fell. A total of 119 shares were unchanged. COVID-19 Update: Total COVID-19 confirmed cases worldwide stood at 138,056,297 with 2,971,539 deaths. India reported 14,71,877 active cases of COVID-19 infection and 173,123 deaths while 124,29,564 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India. India on Wednesday reported 2,00,739 new COVID-19 cases and 1,038 deaths in last 24 hours, according to data from the Union Health Ministry. Result Today: IT major Wipro (up 2.85%) will announce its quarterly result today. Buzzing Index: The Nifty Pharma index added 1.2% to 12,960.85, snapping its two day losing streak. The index has slipped 1.45% in two days. Cipla (up 3%), Cadila Healthcare (up 1.93%), Torrent Pharmaceutical (up 1.64%), Dr. Reddy's (up 1.24%), Sun Pharmaceutical (up 1.21%) and Aurobindo Pharma (up 1.07%) were major gainers. Earnings Impact: Infosys dropped 3.66%. On a consolidated basis, Infosys reported 2.3% decline in net profit to Rs 5,076 crore on 1.5% increase in revenues to Rs 26,311 crore in Q4 March 2021 over Q3 December 2020. The company's consolidated net profit rose 17.5% and revenues rose 13.1% in Q4 March 2021 over Q4 March 2020. In its outlook for FY22, Infosys has guided for 12% to 14% sales growth in constant currency terms in 2021-22 and an operating margin band of 22% to 24%. The company reported 15.2% voluntary attrition rate for the quarter ended 31 March. It was 10% during the October-December quarter, Infosys said in the regulatory filing. The total number of employees at Bengaluru-based company stood at over 2.59 lakh as on 31 March, 2021. Tata Metaliks fell 2.43% to Rs 881.10 after the company posted a 2.7% decline in net profit to Rs 74.99 crore in Q4 March 2021 from Rs 77 crore posted in Q4 March 2020. Net sales rose 26.7% to Rs 660.87 crore in Q4 March 2021 from Rs 521.60 crore registered in Q4 March 2020. Profit before tax increased by 28.5% year on year to Rs 123.73 crore in Q4 March 2021 over Q4 March 2020.
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Key benchmark indices are trading higher in early trade on buying demand in index pivotals as trading resumed after local holiday. At 9:25 IST, the barometer index, the S&P BSE Sensex, was up 96.43 points or 0.2% at 48,640.49. The Nifty 50 index was up 53.15 points or 0.37% at 14,557.95. Asian stocks are trading mixed. The S&P BSE Mid-Cap index was up 0.25%. The S&P BSE Small-Cap index was up 0.17%. The market breadth, indicating the overall health of the market, is positive. On the BSE, 1035 shares rose and 846 shares fell. A total of 83 shares were unchanged. Stocks in news: Infosys dropped 3.66%. On a consolidated basis, Infosys reported 2.3% decline in net profit to Rs 5,076 crore on 1.5% increase in revenues to Rs 26,311 crore in Q4 March 2021 over Q3 December 2020. The company's consolidated net profit rose 17.5% and revenues rose 13.1% in Q4 March 2021 over Q4 March 2020. It reported 16.6% rise in consolidated net profit to Rs 19,351 crore on 10.7% jump in revenues to Rs 100,472 crore in the year ended on 31 March 2021 over the year ended on 31 March 2020. In its outlook for FY22, Infosys has guided for 12% to 14% sales growth in constant currency terms in 2021-22 and an operating margin band of 22% to 24%. Further, the company's board approved a proposal to buyback equity shares worth upto Rs 9,200 crore for a price not exceeding Rs 1,750 per equity share. The total buyback size is less than 15% of the aggregate of the total paid-up share capital and free reserves of the company. As on 31 March 2021, promoters held 12.95% in Infosys. Meanwhile, Infosys announced a final dividend of Rs 15 per share. Bharti Airtel rose 1.24% after the company announced a new corporate structure. This is expected to sharpen the focus of the company in driving the rapidly unfolding digital opportunity in India while enabling it to unlock value. The new structure envisages Airtel Digital folding into the listed entity, Bharti Airtel. This will now house all of the digital assets spanning Wynk Music, Airtel X stream, Airtel Thanks, Mitra Payments platform used by a million retailers, Airtel Ads, Airtel IQ, Airtel Secure, Airtel Cloud and all future digital products and services. Tata Motors rose 0.69%. The Tata Motors Group global wholesales in Q4 FY21, including Jaguar Land Rover, were at 3,30,125 units, higher by 43%, as compared to Q4 FY20. Happiest Minds Technologies fell 0.52%. Happiest Minds Technologies and BeatRoute have entered into a strategic partnership to solve typical revenue realization problems faced presently by the consumer packaged goods (CPG) industry. NBCC (India) declined 1.04%. NBCC (India) on Tuesday (13 April) said it secured total business of Rs 518.20 crore in March 2021. Global Markets: Overseas, Asian stocks are trading steady on Thursday after U.S. stocks eased from all-time peaks. In US, Wall Street indexes closed mixed on Wednesday, with the Nasdaq Composite and S&P 500 falling despite another record intraday high for the latter and big banks' stellar results on the first day of earnings season. Shares of Goldman Sachs Group Inc and Wells Fargo & Co rose on bumper first-quarter profits. Goldman capitalized on record levels of global dealmaking activity, and Wells reduced bad loan provisions and got a grip on costs tied to its sales practices scandal. The Federal Reserve will continue to support the recovery, and will start tapering asset purchases “well before” policy makers consider raising interest rates, Chairman Jerome Powell told the Economic Club of Washington Wednesday. In coronavirus developments, a U.S. Centers for Disease Control and Prevention panel decided Wednesday to postpone a decision on Johnson and Johnson's Covid-19 vaccine following the development of a rare but potentially life-threatening blood-clotting disorder in six women. On Tuesday, the U.S. Food and Drug Administration asked states to temporarily halt using J&J's Covid-19 vaccine “out of an abundance of caution.” Back home, stock markets were closed on Wednesday, 14 April 2021 on account of Dr.Baba Saheb Ambedkar Jayanti. Key equity indices ended with strong gains on Tuesday. The barometer index, the S&P BSE Sensex, rose 660.68 points or 1.38% at 48,544.06. The Nifty 50 index gained 194 points or 1.36% at 14,504.80. Foreign portfolio investors (FPIs) sold shares worth Rs 730.81 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 243.80 crore in the Indian equity market on 13 April, provisional data showed.
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| Key equity indices firmed up further and hit the day's high in mid-afternoon trade. The market rebounded after yesterday's rout. At 13:20 IST, the barometer index, the S&P BSE Sensex, added 482.98 points or 1.01% at 48,366.87. The Nifty 50 index added 142.45 points or 1% at 14,453.90. The broader market outperformed the benchmark indices. The S&P BSE Mid-Cap index rose 1.35% while the S&P BSE Small-Cap index gained 1.13%. Buyers outpaced sellers. On the BSE, 1,809 shares rose and 987 shares fell. A total of 173 shares were unchanged. Foreign portfolio investors (FPIs) sold shares worth Rs 1,746.43 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 232.76 crore in the Indian equity market on 12 April 2021, provisional data showed. Monsoon Update: Private forecaster Skymet Weather has predicted Monsoon rains at 103% of the Long Period Average rains for India, ranging between normal and above normal, with a model error of 5%. This is the third year in succession that India may see above normal rains during the season. The last time it happened was in 1996, 1997, and 1998, Skymet said. Economy: India's indirect tax collection rose in the fiscal ended March 2021. The provisional figures for indirect tax collections (GST & non-GST) for the financial year 2020-21 show that net revenue collections are at Rs 10.71 lakh crore compared with 9.54 lakh crore for the financial year 2019-20, thereby registering a growth of 12.3%. Net tax collections on account of GST of centre (CGST+IGST+ Compensation Cess) during financial year 2020-21 is Rs 5.48 lakh crore, lower than Rs 5.99 lakh crore in the previous financial year. The GST collections were severely affected in the first half of the financial year on account of Covid. However, in the second half, the GST collections registered a good growth and collections exceeded Rs 1 lakh crore in each of the last six months. March saw an all-time high of GST collection at Rs 1.24 lakh crore after very good figures in the month of January and February. Several measures taken by the Central Government helped in improving compliance in GST. Net tax collections on account of Central Excise and Service Tax (Arrears) during financial year 2020-21 stood at Rs 3.91 lakh crore as compared to Rs 2.45 lakh crore in the previous financial year, thereby registering a growth of more than 59%. Meanwhile, the Index of Industrial Production (IIP) showed that industrial output in India once again shrinked in February, going down by 3.6%. IIP had contracted by an updated 0.9% in January after rising by 1.6% in December. The all-India general CPI inflation rose to 5.52% in March 2021, compared with 5.03% in February 2021. The corresponding provisional inflation rate for rural area was 4.61% and urban area 6.52% in March 2021 as against 4.19% and 5.96% in February 2021. Buzzing Index: The Nifty Bank index jumped 2.73% to 31,633.45, snapping its three days losing streak. The dropped 6.67% in the past three days. Federal Bank (up 6.46%), IDFC First Bank (up 5.44%), ICICI Bank (up 3.8%), Axis Bank (up 3.71%), IndusInd Bank (up 3.7%), SBI (up 3.25%), RBL Bank (up 3%), PNB (up 2.65%) and Kotak Mahindra Bank (Up 1.76%) were top gainers in Bank Nifty. Numbers to Track: MCX Gold futures for 4 June 2021 settlement rose 0.31% to Rs 46,563 The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, rose 0.01% to 92.160. In the commodities market, Brent crude for June 2021 settlement rose 20 cents to $63.48 a barrel. The contract rose 0.52% to settle at $63.28 in the previous trading session.
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The benchmark indices were trading with modest gains in afternoon trade. At 13:20 IST, the barometer index, the S&P BSE Sensex, rose 120.49 points or 0.25% at 48,003.87. The Nifty 50 index gained 32.10 points or 0.22% at 14,342.90. ICICI Bank (up 2.17%), HDFC (up 1.45%) and HDFC Bank (up 0.91%) boosted the indices. The broader market outperformed the benchmark indices. The S&P BSE Mid-Cap index rose 0.37%. The S&P BSE Small-Cap index gained 0.44%. Buyers outpaced sellers. On the BSE, 1,672 shares rose and 1,051 shares fell. A total of 176 shares were unchanged. Foreign portfolio investors (FPIs) sold shares worth Rs 1,746.43 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 232.76 crore in the Indian equity market on 12 April 2021, provisional data showed. Monsoon Update: Private forecaster Skymet Weather has predicted Monsoon rains at 103% of the Long Period Average rains for India, ranging between normal and above normal, with a model error of 5%. This is the third year in succession that India may see above normal rains during the season. The last time it happened was in 1996, 1997, and 1998, Skymet said. COVID-19 Update: Total COVID-19 confirmed cases worldwide stood at 13,66,76,442 with 29,46,124 deaths. A total of 1,61,736 new Covid-19 cases have been reported on Tuesday, pushing India's tally of cases to 1,36,89,453, according to data updated by the Health Ministry. With 879 fatalities in the last 24 hours, the death toll increased to 1,71,058. The number of active cases continued to increase for the 34th day in a row to touch 12,64,698 and account for 9.24 per cent of the total infections. Economy: The Index of Industrial Production (IIP) showed industrial output in India once again shrink in February, going down by 3.6%. IIP had contracted by an updated 0.9% in January after rising by 1.6% in December. The all-India general CPI inflation rose to 5.52% in March 2021 (new base 2012=100), compared with 5.03% in February 2021. The corresponding provisional inflation rate for rural area was 4.61% and urban area 6.52% in March 2021 as against 4.19% and 5.96% in February 2021. Gainers & Losers: Mahindra & Mahindra (M&M) (up 6.04%), Bajaj Finserv (up 4.47%), Maruti Suzuki India (up 3.98%), ONGC (up 3.82%) and Bajaj Finance (up 3.30%) were major gainers in Nifty 50 index. Tech Mahindra (down 5.08%), Tata Consultancy Services (TCS) (down 5.01%), Adani Ports & Special Economic Zone (APSEZ) (down 4.42%), Wipro (down 4.08%) and Dr Reddy's Laboratories (down 3.52%) were major losers in Nifty 50 index. TCS tanked 5.01%. The IT major reported a 6.3% growth in consolidated net profit to Rs 9,246 crore in Q4 March 2021 over Q3 December 2020. Consolidated revenue grew by 4% to Rs 43,705 crore in Q4 March 2021 over Q3 December 2020. On a year-on-year (YoY) basis, TCS' net profit rose 14.87% and revenues rose 9.41% in Q4 March 2021. In constant currency terms, the company's revenues grew 4.2% on a quarter-on-quarter (QoQ) basis and 5.9% on a YoY basis during the March quarter. The IT major's operating margin expanded 0.2% QoQ and 1.7% YoY to 26.8% in Q4 March 2021. TCS' order book at $9.2 billion in Q4 March 2021, was the highest ever total contract value (TCV) in a quarter, taking the total yearly order book at $31.6 billion, a 17.1% growth compared to previous financial year. All verticals showed good sequential growth, but a couple continue to lag prior year level - BFSI (+7% QoQ, +13.3% YoY), Retail and CPG (+4% QoQ, -0.9% YoY), Life Sciences and Healthcare (+3.8% QoQ, +19.3% YoY), Manufacturing (+3.9% QoQ, +1.3% YoY), Technology & Services (+2.8% QoQ, +3.9% YoY) and Communications & Media (+1.8% QoQ, -4% YoY). The company's board has proposed a final dividend of Rs 15 per share. Stocks in Spotlight: Indian Overseas Bank jumped 4.97% after the PSU bank said its board on 12 April 2021 approved issuing equity shares by the bank on preferential basis to the Government of India for the capital infusion of Rs 4,100 crore received during FY 2020-21. The bank will convene extraordinary general meeting (EGM) of shareholders on 12 May 2021. At the EGM, the bank will shareholders' approval to issue 246.54 crore equity shares at Rs 16.63 each to the Government of India on preferential basis. Inox Leisure fell 1.25%. The multiplex chain operator has commenced the commercial operations of a multiplex cinema theatre taken on lease basis in Bangalore from Tuesday, 13 April 2021. Larsen & Toubro rose 1.57% after the renewables arm of Larsen & Toubro's power transmission & distribution business has secured the go-ahead to begin constructing the 300 MW Jeddah Solar PV power plant. The turnkey EPC order has been received from the consortium of Masdar, EDF Renewables and Nesma Company. The project was awarded by Saudi Arabia's Renewable Energy Project Development Office (REPDO) to the consortium under design, finance, build and operate mode. The project has now attained financial closure after the signing of the power purchase agreement and thereby the notice to Larsen & Toubro to proceed with the construction. Global Markets: Most shares in Europe and Asia advanced on Tuesday, following a muted finish overnight on the Wall Street. China's exports in dollar terms rose by 30.6% in March from one year earlier while imports jumped 38.1% compared to the same time last year. US stocks settled near their record levels on Monday as dull trading resumed before the release of widely-watched inflation data and the start of first-quarter corporate earnings. Fed Chairman Jerome Powell on Sunday reiterated that the Fed wants to see inflation rise above its 2% for an extended period before officials move to raise interest rates. He added that amid an accelerated COVID-19 vaccine rollout and strong fiscal support, the U.S. economy appears to be at a turning point.
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The domestic equities firmed up once again in early afternoon trade. The Nifty was trading below 14,350 level. At 12:20 IST, the barometer index, the S&P BSE Sensex, rose 101.18 points or 0.21% at 47,984.56. The Nifty 50 index gained 29.85 points or 0.21% at 14,340.65. Concerns over rising covid-19 cases continued to weigh on investors sentiment. In the broader market, the S&P BSE Mid-Cap index added 0.27% while the S&P BSE Small-Cap index rose 0.26%. The market breadth was positive. On the BSE, 1,591 shares rose and 1,084 shares fell. A total of 161 shares were unchanged. Economy: The Index of Industrial Production (IIP) showed industrial output in India once again shrink in February, going down by 3.6%. IIP had contracted by an updated 0.9% in January after rising by 1.6% in December. The all-India general CPI inflation rose to 5.52% in March 2021 (new base 2012=100), compared with 5.03% in February 2021. The corresponding provisional inflation rate for rural area was 4.61% and urban area 6.52% in March 2021 as against 4.19% and 5.96% in February 2021. Coronavirus Update: Total COVID-19 confirmed cases worldwide stood at 13,66,63,803 with 29,46,124 deaths. India reported 12,64,698 active cases of COVID-19 infection and 1,71,058 deaths while 1,22,53,697 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India. India on Monday reported 1,61,736 new COVID-19 cases and 879 deaths in last 24 hours, according to data from the Union Health Ministry. Derivatives: The NSE's India VIX, a gauge of market's expectation of volatility over the near term, dropped 6.77% to 21.4375. The Nifty 29 April 2021 futures were trading at 14,351.55, at a premium of 10.9 points as compared with the spot at 14,340.65. The Nifty option chain for 29 April 2021 expiry showed maximum Call OI of 25.2 lakh contracts at the 15,000 strike price. Maximum Put OI of 33.4 lakh contracts was seen at 14,000 strike price. Buzzing Index: The Nifty IT index lost 4.21% to 25,601.90. The index skid 6.44% in two sessions. Coforge (down 8.83%), Mphasis (down 6.92%), MindTree (down 6.15%), Tata Consultancy Services (TCS) (down 4.75%) and Tech Mahindra (down 4.57%) were the top losers in IT segment. TCS dropped 4.75%. The IT major reported a 6.3% growth in consolidated net profit to Rs 9,246 crore in Q4 March 2021 over Q3 December 2020. Consolidated revenue grew by 4% to Rs 43,705 crore in Q4 March 2021 over Q3 December 2020. On a year-on-year (YoY) basis, TCS' net profit rose 14.87% and revenues rose 9.41% in Q4 March 2021. In constant currency terms, the company's revenues grew 4.2% on a quarter-on-quarter (QoQ) basis and 5.9% on a YoY basis during the March quarter. The IT major's operating margin expanded 0.2% QoQ and 1.7% YoY to 26.8% in Q4 March 2021. TCS' order book at $9.2 billion in Q4 March 2021, was the highest ever total contract value (TCV) in a quarter, taking the total yearly order book at $31.6 billion, a 17.1% growth compared to previous financial year. All verticals showed good sequential growth, but a couple continue to lag prior year level - BFSI (+7% QoQ, +13.3% YoY), Retail and CPG (+4% QoQ, -0.9% YoY), Life Sciences and Healthcare (+3.8% QoQ, +19.3% YoY), Manufacturing (+3.9% QoQ, +1.3% YoY), Technology & Services (+2.8% QoQ, +3.9% YoY) and Communications & Media (+1.8% QoQ, -4% YoY). The company's board has proposed a final dividend of Rs 15 per share. Stocks in Spotlight: Muthoot Finance gained 1.42% after the NBFC's board approved payment of an interim dividend of Rs 20 per equity share. The company has fixed 23 April 2021 as the record date for the purpose of payment of interim dividend. NBCC (India) advanced 2.42% after the company said it has been engaged as project management consultant for the construction of FCIL office building at Noida (Uttar Pradesh) on 9 April 2021. NBCC (India) is the project management consultant (PMC) for a project worth Rs 65.10 crore charging a PMC fee of 7%.
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| Barometers came off the day's high and traded with small gains in mid-morning trade. The Nifty slipped below the 14,400 mark. IT and pharma shares saw selling pressure while banks, financial and auto stocks were in demand. At 11:24 IST, the barometer index, the S&P BSE Sensex, was up 150.89 points or 0.32% at 48,034.77. The Nifty 50 index added 37.35 points or 0.26% at 14,348.30. In broader market, the S&P BSE Mid-Cap index was up 0.59% while the S&P BSE Small-Cap index was added 0.68%. The market breadth was positive. On the BSE, 1690 shares rose and 861 shares fell. A total of 153 shares were unchanged. COVID-19 Update: Total COVID-19 confirmed cases worldwide stood at 136,500,459 with 29,44,714 deaths. India reported 12,64,698 active cases of COVID-19 infection and 171,058 deaths while 122,53,697patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India. India on Monday reported 1,61,736 new COVID-19 cases and 879 deaths in last 24 hours, according to data from the Union Health Ministry. Economy: The Index of Industrial Production (IIP) showed industrial output in India once again shrink in February, going down by 3.6%. IIP had contracted by an updated 0.9% in January after rising by 1.6% in December. The all-India general CPI inflation rose to 5.52% in March 2021 (new base 2012=100), compared with 5.03% in February 2021. The corresponding provisional inflation rate for rural area was 4.61% and urban area 6.52% in March 2021 as against 4.19% and 5.96% in February 2021. Buzzing Index: The Nifty Auto index added 1.98% to 9,602.30, snapping its two day two losing run. The index slipped 5.46% in two days. Mahindra & Mahindra (up 3.63%), Motherson Sumi Systems (up 2.47%), Balkrishna Industries (up 2.26%), Maruti Suzuki India (up 2.12%), MRF (up 1.57%), Eicher Motors (up 1.52%), Exide Industries (up 1.25%), Escorts (up 1.21%), Ashok Leyland (up 1.02%) and Hero MotoCorp (up 0.88%) were top gainers in auto space. Stocks in Spotlight: Bandhan Bank gained 1.22% after the bank's total deposits jumped 37% to Rs 77,972 crore at the end of 31 March 2021 as against Rs 57,082 crore on 31 March 2020. The bank's loans & advances at the end of the March 2021 stood at Rs 87,054 crore, up by 21% from Rs 71,846 crore in the same period last year. The loan book of the private lender has increased by 8% sequentially compared with Rs 80,255 crore at the end of the 31 December 2020. Retail to Total Deposits ratio was at 79% as on 31 March 2021 as against 81% as on 31 December 2020 and 78% as on 31 March 2020. Satin Creditcare Network fell 2.58%. The company said its asset under management (AUM) stood at Rs 7,274 crore as on 31 March 2021, recording a growth of 5.3% Q-o-Q (quarter-on-quarter). For FY21, Satin Creditcare Network maintained sufficient liquidity of Rs 1,469 crore. During FY21, the company raised Rs 4,312 crore including direct assignment transactions of Rs 743 crore. Dr. Reddy's slipped 3.1%. The drug major received the permission from the Drug Controller General of India to import the Sputnik V vaccine into India for restricted use in emergency situations as per the provisions of the New Drug and Clincial Trials rules, 2019. In September 2020, Dr Reddy's Laboratories had partnered with the Russian Direct Investment Fund (RDIF) to conduct the clinical trials of Sputnik V and distribute the vaccine in India. In addition to the trials conducted in Russia by RDIF. Phase II / III clinical trials of the vaccine were carried out by Dr Reddy's Laboratories in India. Global Markets: Most Asian shares traded higher on Tuesday, following a muted finish overnight on the Wall Street. US stocks settled near their record levels on Monday as dull trading resumed before the release of widely-watched inflation data and the start of first-quarter corporate earnings. Fed Chairman Jerome Powell on Sunday reiterated that the Fed wants to see inflation rise above its 2% for an extended period before officials move to raise interest rates. He added that amid an accelerated Covid-19 vaccine rollout and strong fiscal support, the U.S. economy appears to be at a turning point.
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| Key equity indices traded near the day's high with decent gains in morning trade. The market rebounded after yesterday's rout. The Nifty scaled 14,400 mark. IT and pharma shares saw selling pressure while banks and financial stocks were in demand. At 10:25 IST, the barometer index, the S&P BSE Sensex, was up 350.54 points or 0.73% at 48,233.77. The Nifty 50 index added 105.1 points or 0.73% at 14,415.30. In broader market, the S&P BSE Mid-Cap index was up 1.24% while the S&P BSE Small-Cap index was added 1.5%. The market breadth, indicating the overall health of the market, was strong. On the BSE, 1811 shares rose and 577 shares fell. A total of 126 shares were unchanged. COVID-19 Update: Total COVID-19 confirmed cases worldwide stood at 136,500,459 with 29,44,714 deaths. India reported 12,64,698 active cases of COVID-19 infection and 171,058 deaths while 122,53,697patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India. India on Monday reported 1,61,736 new COVID-19 cases and 879 deaths in last 24 hours, according to data from the Union Health Ministry. Economy: The Index of Industrial Production (IIP) showed industrial output in India once again shrink in February, going down by 3.6%. IIP had contracted by an updated 0.9% in January after rising by 1.6% in December. The all-India general CPI inflation rose to 5.52% in March 2021 (new base 2012=100), compared with 5.03% in February 2021. The corresponding provisional inflation rate for rural area was 4.61% and urban area 6.52% in March 2021 as against 4.19% and 5.96% in February 2021. Buzzing Index: The Nifty PSU Bank index jumped 2.63% to 2,040.50, after tumbling 9.26% in yesterday's trading session. Bank of Maharashtra (up 10.28%), Indian Overseas Bank (up 6.21%), Bank of India (up 4.05%), Central Bank of India (up 3.85%), Indian Bank (up 2.91%), Bank of Baroda (up 2.8%) and Punjab National Bank (up 2.36%) were top gainers in PSU bank space. Earning Impact: TCS down 2.89%. The IT major reported a 6.3% growth in consolidated net profit to Rs 9,246 crore in Q4 March 2021 over Q3 December 2020. Consolidated revenue grew by 4% to Rs 43,705 crore in Q4 March 2021 over Q3 December 2020. On a year-on-year (YoY) basis, TCS' net profit rose 14.87% and revenues rose 9.41% in Q4 March 2021. In constant currency terms, the company's revenues grew 4.2% on a quarter-on-quarter (QoQ) basis and 5.9% on a YoY basis during the March quarter. The IT major's operating margin expanded 0.2% QoQ and 1.7% YoY to 26.8% in Q4 March 2021. TCS' order book at $9.2 billion in Q4 March 2021, was the highest ever total contract value (TCV) in a quarter, taking the total yearly order book at $31.6 billion, a 17.1% growth compared to previous financial year. All verticals showed good sequential growth, but a couple continue to lag prior year level - BFSI (+7% QoQ, +13.3% YoY), Retail and CPG (+4% QoQ, -0.9% YoY), Life Sciences and Healthcare (+3.8% QoQ, +19.3% YoY), Manufacturing (+3.9% QoQ, +1.3% YoY), Technology & Services (+2.8% QoQ, +3.9% YoY) and Communications & Media (+1.8% QoQ, -4% YoY). The company's board has proposed a final dividend of Rs 15 per share.
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Key benchmark indices are trading firm in early trade on buying demand in index pivotals. At 9:25 IST, the barometer index, the S&P BSE Sensex, was up 213.39 points or 0.45% at 48,096.77. The Nifty 50 index was up 75.50 points or 0.53% at 14,386.30. The Sensex regained the 48,000 mark in early trade. Upbeat Asian stocks boosted sentiment. The S&P BSE Mid-Cap index was up 0.68%. The S&P BSE Small-Cap index was up 1.02%. The market breadth, indicating the overall health of the market, is strong. On the BSE, 1516 shares rose and 478 shares fell. A total of 77 shares were unchanged. Economic data: On the macro front, the Index of Industrial Production (IIP) showed industrial output in India once again shrank in February, going down by 3.6%. IIP had contracted by an updated 0.9% in January after rising by 1.6% in December. The all-India general CPI inflation rose to 5.52% in March 2021 (new base 2012=100), compared with 5.03% in February 2021. The corresponding provisional inflation rate for rural area was 4.61% and urban area 6.52% in March 2021 as against 4.19% and 5.96% in February 2021. Stocks in news: TCS dropped 3.47%. TCS reported a 6.3% growth in consolidated net profit to Rs 9,246 crore in Q4 March 2021 over Q3 December 2020. Consolidated revenue grew by 4% to Rs 43,705 crore in Q4 March 2021 over Q3 December 2020. TCS' order book at $9.2 billion in Q4 March 2021, was the highest ever total contract value (TCV) in a quarter, taking the total yearly order book at $31.6 billion, a 17.1% growth compared to previous financial year. For the financial year ended March 2021, the company's consolidated revenues grew 4.6% to Rs 1,64,177 crore and net profit rose 0.28% to Rs 32,430 crore. The company's board has proposed a final dividend of Rs 15 per share. NBCC (India) advanced 3.39%. NBCC (India) said it has been awarded the work order for engagement as Project Management Consultant (PMC) for Construction of FCIL office building at Noida, Sector -1 on April 9, 2021. NBCC is the Project Management Consultant for this project value of Rs. 65.10 crore at PMC fee of 7%. Yes Bank rose 1.04%. Yes Bank said that Sebi vide its Order dated April 12, 2021 has imposed a penalty of Rs. 25 crore against the Bank under Section 15 HA of SEBI Act, 1992 for the alleged mis-selling of AT-1 Bonds in the secondary market. The bank shall be preferring an appeal before the Securities Appellate Tribunal, it said. Hindustan Copper gained 3.2% to Rs 135.50. Hindustan Copper closed its qualified institutional placement issue and approved the issue price of Rs 119.60 per equity share for the issue. Satin Creditcare Network lost 4.96%. The company's AUM stood at Rs 7,274 crores as on 31st March 2021, a growth of 5.3% QoQ. Global Markets: Asian stocks edged higher on Tuesday following a muted finish overnight on Wall Street. U.S. stocks hovered near their record levels on Monday as dull trading resumed before the release of widely-watched inflation data and the start of first-quarter corporate earnings. Fed Chairman Jerome Powell on Sunday reiterated that the Fed wants to see inflation rise above its 2% for an extended period before officials move to raise interest rates. He added that amid an accelerated Covid-19 vaccine rollout and strong fiscal support, the U.S. economy appears to be at a turning point. Back home, domestic equity indices ended with sharp losses on Monday, as surging COVID-19 cases in the country triggered fears of fresh lockdowns. The barometer index, the S&P BSE Sensex, slumped 1,707.94 points or 3.44% at 47,883.38. The Nifty 50 index tanked 524.05 points or 3.53% at 14,310.80. Foreign portfolio investors (FPIs) sold shares worth Rs 1,746.43 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 232.76 crore in the Indian equity market on 12 April, provisional data showed.
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| Equity indices were trading near the day's low with heavy losses in mid-afternoon trade. The Nifty was trading below 14,350 level. Investors sentiment was dented as COVID-19 cases continued to surge in the country. At 14:26 IST, the barometer index, the S&P BSE Sensex, slumped 1,677 points or 3.38% at 47,913.76. The Nifty 50 index tanked 507.85 points or 3.42% at 14,327.65. The broader market tanked. The S&P BSE Mid-Cap index lost 4.83% while the S&P BSE Small-Cap index tumbled 4.27%. Sellers outnumbered buyers. On the BSE, 456 shares rose and 2,249 shares fell. A total of 169 shares were unchanged. COVID-19 Update: Total COVID-19 confirmed cases worldwide stood at 13,60,56,956 with 29,36,768 deaths. India reported 12,01,009 active cases of COVID-19 infection and 1,70,179 deaths while 1,21,56,529 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India. India on Monday reported 1,68,912 new COVID-19 cases and 904 deaths in last 24 hours, according to data from the Union Health Ministry. The media reported that a total lockdown may be impending in Maharashtra. With rising COVID cases, a total lockdown is mulled by state government officials. State health minister Rajesh Tope said that a decision could happen after it is discussed during Wednesday's cabinet meeting. Numbers to Track: In the foreign exchange market, the partially convertible rupee fell to 74.9825 compared with its previous closing of 74.73. The yield on 10-year benchmark federal paper fell to 6.009% as compared to its previous close of 6.017%. MCX Gold futures for 4 June 2021 settlement shed 0.02% to Rs 46,584. The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, rose 0.11% to 92.263. In the commodities market, Brent crude for June 2021 settlement rose 20 cents to $63.15 a barrel. The contract fell 0.4% to settle at $62.95 in the previous trading session. Buzzing Index: The Nifty Media index slumped 7.45% to 1,441, snapping its three day rising run. It was the worst performing sectoral index on the NSE. Zee Entertainment (down 10.9%), Sun TV Network (down 7.39%), TV18 Broadcast (down 7.08%), DB Corp (down 6.42%), TV Today Network (down 6.21%), Inox Leisure (down 5.93%), Dish TV (down 5.56%) and PVR (down 4.94%) were top losers in media segment. Stocks in Spotlight: Tata Communications fell 2.5%. The communication company and Bahrain Internet Exchange (BIX) extended their partnership to offer high speed internet connectivity with very low latency for customers in Bahrain. Music Broadcast declined 1.85%. The board of Music Broadcast has decided not to pursue the proposed investment in Big FM and the company will be terminating the definitive transaction documents with immediate effect. The parties have not yet received the approval from the MIB and the long stop date under the definitive agreements has expired.
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Key equity barometers were hovering near the day's low in afternoon trade. The Nifty was trading below 14,350 level. Investors sentiment was dented as COVID-19 cases continued to surge in the country. At 13:20 IST, the barometer index, the S&P BSE Sensex, slumped 1,654.56 points or 3.34% at 47,936.76. The Nifty 50 index tanked 497.20 points or 3.35% at 14,337.65. Reliance Industries (down 3.86%), HDFC Bank (down 3.96%) and ICICI Bank (down 5.30%) were major drags. The broader market underperformed the benchmarks. The S&P BSE Mid-Cap index lost 5.28%. The S&P BSE Small-Cap index skid 4.78%. Sellers outnumbered buyers. On the BSE, 429 shares rose and 2,435 shares fell. A total of 184 shares were unchanged. COVID-19 Update: Total COVID-19 confirmed cases worldwide stood at 13,60,56,956 with 29,36,768 deaths. India reported 12,01,009 active cases of COVID-19 infection and 1,70,179 deaths while 1,21,56,529 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India. India on Monday reported 1,68,912 new COVID-19 cases and 904 deaths in last 24 hours, according to data from the Union Health Ministry. The media reported that a total lockdown may be impending in Maharashtra. With rising COVID cases, a total lockdown is mulled by state government officials. State health minister Rajesh Tope said that a decision could happen after it is discussed during Wednesday's cabinet meeting. Economy: India's foreign exchange reserves declined $2.415 billion to stand at $576.869 billion in the week ended 2 April 2021, RBI data showed on Friday. The reserves had touched a record high of $590.185 billion in the week ended 29 January 2021. The gold reserves dropped by $884 million to $34.023 billion in the reporting week, as per the central bank data. The special drawing rights (SDRs) with the International Monetary Fund (IMF) dipped by $4 million to $1.486 billion. Meanwhile, commercial banks in India gave almost one fourth of loans (about Rs 1.55 trillion) in the last fortnight of the financial year. The total lending was Rs 5.80 trillion in FY21 lower than about Rs 6 trillion in FY20. The outstanding credit stood at Rs 109.51 trillion as of 26 March 2021, according to Reserve Bank of India data. On a year-on-year (Y-o-Y) basis, the lending by commercial banks rose by 5.6% in the financial year (FY21), a period marked by economic contraction due to COVID-19 pandemic as against 6.1% in FY20. Gainers & Losers: Cipla (up 3.81%), Dr Reddy's Laboratories (up 3.04%), Divi's Laboratories (up 2.39%) and Britannia Industries (up 0.75%) were major gainers in Nifty 50 index. Tata Motors (down 9.27%), Adani Ports & Special Economic Zone (APSEZ) (down 8.75%), IndusInd Bank (down 8.35%), State Bank of India (SBI) (down 7.29%) and Bajaj Finance (down 6.61%) were major losers in Nifty 50 index. Nifty Result Today: IT bellwether TCS was down 1.51% ahead of its Q4 earnings today, 12 April 2021. Stocks in Spotlight: Man Industries (India) slipped 1.90%. The company said it received new order worth Rs 766 crore from domestic hydrocarbon sector. This order reflects robust business environment and also showcases the trust customers have in the company's technological and executional capabilities, Man Industries said in a statement. With this new order, the unexecuted order book as on date stands at approximately Rs 1,900 crore to be executed in the current financial year. Biocon shed 3.35%. Biocon Pharma, a wholly-owned subsidiary of Biocon, received a certificate of Good Manufacturing Practice (GMP) compliance from the Medicines & Healthcare products Regulatory Agency (MHRA), the United Kingdom (UK), for its manufacturing facility at Biocon Park in Bengaluru (Karnataka). The certificate, which includes manufacturing and packaging of tablets and capsules in the non-potent and potent blocks of the facility, was issued based on a remote inspection in the week of 22 March 2021, in the wake of travel restrictions amidst COVID-19. Balrampur Chini Mills dropped 3.12%. The board of Balrampur Chini Mills on Saturday (10 April 2021) approved the revised capex of Rs 425 crore for the 320 kilo litres per day (KLPD) distillery plant. On 4 November 2020, the company's board had approved a capex of Rs 320 crore for the aforementioned capacity addition project. The company said that the increase in capex to the tune of Rs 105 crore is mainly owing to the inclusion of 20 KLPD of extra-neutral alcohol (ENA), higher storage capacity for raw material and finished goods, sharp rise in steel prices and change in designs of equipment to bring in more efficiency and embrace automation. Global Markets: European shares declined while most Asian traded lower on Monday as global stocks continue to search for direction after record highs in several regions last week. The U.K. government is relaxing lockdown measures in England on Monday, with outdoor dining and hospitality venues, hairdressers, gyms, shops and outdoor attractions allowed to reopen. In the US, the Dow Jones Industrial Average and S&P 500 index closed at record highs Friday as investors remain cautiously optimistic about economic growth and progress against the pandemic. Stocks linked to the recovering economy led the gains again amid the accelerating vaccine rollout. On the data front, the U.S. producer-price index rose 1% in March, the U.S. Labor Department said Friday. The rate of wholesale inflation over the past 12 months climbed to 4.2% in March. That's the highest level since September 2011.
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