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Mid - Session

Market behaviours during the course of the trading session.

Barometers trade lower; Adani shares rally

21-Jun-21 12:30 Hrs IST

The benchmark indices continued trading with modest losses in early afternoon trade. The Nifty was trading above 15,600 mark. Negative global cues impacted sentiment in the domestic market.

At 12:20 IST, the barometer index, the S&P BSE Sensex, fell 207.91 points or 0.40% at 52,136.54. The Nifty 50 index lost 62.30 points or 0.40% at 15,621.05.

In the broader market, the S&P BSE Mid-Cap index rose 0.21% while the S&P BSE Small-Cap index gained 0.29%.

The market breadth was positive. On the BSE, 1,515 shares rose and 1,533 shares fell. A total of 147 shares were unchanged.

Shares of Adani Group companies rallied. Adani Ports & SEZ (up 6.81%), Adani Green Energy (up 5%), Adani Total Gas (up 5%), Adani Transmission (up 5%), Adani Power (up 4.96%) and Adani Enterprises (up 4.73%) surged.

Economy:

India's unemployment rate declined to 8.7% in the week ended 13 June 2021 from the monthly unemployment rate of 14.7% in May 2021 as COVID-19 cases continue to decline. Data from the Center for Monitoring Indian Economy (CMIE) indicate that the improvement in the unemployment rate over the past weeks is due to the easing of restrictions in various parts of the country.

According to CMIE, the monthly unemployment rate in May 2021 was 14.7%. The current urban employment rate has come down 8.18 percentage points from 17.88% in the last week of May 2021 to 9.7% in the week ended on 13 June 2021.

Rural India has also seen a decline in the unemployment rate. By the end of the second week of June 2021, this rate has come down to 8.4% as compared to 10.63% in May 2021.

Coronavirus Update:

Total COVID-19 confirmed cases worldwide stood at 17,84,36,288 with 38,64,742 deaths. India reported 7,02,887 active cases of COVID-19 infection and 3,88,135 deaths while 2,88,44,199 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.

India reported 53,256 new coronavirus infections, the lowest in 88 days, taking the total tally of COVID-19 cases to 2,99,35,221, while the active cases further reduced to 7,02,887, according to the Union Health Ministry data updated on Monday, 21 June 2021. The death toll climbed to 3,88,135 with 1,422 fresh fatalities, the lowest in 65 days.

The active cases now comprise 2.35% of the total infections, while the national COVID-19 recovery rate has improved to 96.36%, the data updated at 8 A.M. showed. A net decline of 26,356 cases has been recorded in the COVID-19 caseload in a span of 24 hours.

Derivatives:

The NSE's India VIX, a gauge of market's expectation of volatility over the near term, surged 8.31% to 16.0275. The Nifty 24 June 2021 futures were trading at 15,603, at a discount of 18.05 points as compared with the spot at 15,621.05.

The Nifty option chain for 24 June 2021 expiry showed maximum Call OI of 51.9 lakh contracts at the 16,000 strike price. Maximum Put OI of 64 lakh contracts was seen at 15,500 strike price.

Buzzing Index:

The Nifty Realty index rose 0.79% to 346.55. The index lost 4.90% in the last six sessions till Friday.

Prestige Real Estates (up 2.54%), Godrej Properties (up 1.36%), Hemisphere Properties India (up 1.14%), Brigade Enterprises (up 1.13%) and The Phoenix Mills (up 1.09%) were the top gainers in Realty segment.

Stocks in Spotlight:

NTPC rallied 2.77% after the company's consolidated net profit surged 185.3% to Rs 4,649.49 crore on 0.9% slip in net sales to Rs 30,102.60 crore in Q4 March 2021 over Q4 March 2020. Profit before tax skid 14.38% to Rs 4,017.72 crore in Q4 FY21 as against Rs 4,692.53 crore in Q4 FY20. The board of NTPC has approved the enhancement of borrowing limit of the company to Rs 2,25,000 crore from Rs 2,00,000 crore.

NTPC in notes to account said it had created an additional tax provision amounting to Rs 2,661.47 crore during previous years as it proposed to settle all pending income tax disputes. During the year, the company decided to settle its pending disputes for three years under the Vivad se Vishwas Scheme. Accordingly, excess tax provision amounting to Rs 1,889.05 crore has been written back during the quarter ended March 2021.

Bajaj Consumer Care rose 0.84%. ICICI Prudential Mutual Fund (MF) sold 2 lakh equity shares, or 0.14% stake, of Bajaj Consumer Care in the secondary market on 16 June 2021. Post transaction, ICICI Prudential MF decreased its stake in Bajaj Consumer Care to 5.93% stake from 6.07% held earlier.