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Sensex closes 164 pts lower, Nifty at 15,680; pharma, auto, FMCG top gainers

Market closing: Indian indices closed over 0.25% lower on Thursday. (REUTERS)Premium
Market closing: Indian indices closed over 0.25% lower on Thursday. (REUTERS)

  • Market closing: Benchmark Indian equity indices closed over 0.26% lower on Thursday. The Sensex closed at 52,318.60, down 164.11 points, or 0.31%, while the Nifty was at 15,680.00, down 41.50 points, or 0.26%. IT, financials, realty were top drags

Indian indices closed 0.25% lower on Thursday. The Manufacturing PMI fell below 50 for the first time since July 2020 to 48.1 in June. Unemployement in June fell to 9.17% from 11.90% in May, according to CMIE. Meanwhile, June vehicle sales data was promising, and buoyed the secor's stocks on Thursday. Asian stocks closed lower amid fears of covid resurgence and muted Chinese factory output data. All eyes will now be on the US payroll data due out on Friday.

01 Jul 2021, 03:43:57 PM IST

Market closing

Benchmark Indian equity indices closed over 0.26% lower on Thursday. The Sensex closed at 52,318.60, down 164.11 points, or 0.31%, while the Nifty was at 15,680.00, down 41.50 points, or 0.26%. IT, financials, realty were top drags.On the 30-share Sensex, Dr Reddy's, Bajaj Auto, Sun Pharma, and 11 other stocks closed in green, while Bajaj Finserv, Infosys, Tech Mahindra, and 13 other stocks closed in red.

Sensex at close
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Sensex at close
01 Jul 2021, 03:26:48 PM IST

Ashok Leyland total Jun dispatches zoom to 6,448 units

Hinduja Group flagship firm Ashok Leyland on Thursday posted two-fold increase in total sales at 6,448 units as compared with 3,199 units in May this year. Total domestic vehicle dispatches to dealerships stood at 5,851 units last month as against 2,738 units in May, Ashok Leyland said in a regulatory filing.

Medium and heavy commercial vehicles (M&HCV) sales in the domestic market stood at 2,364 units in June as against 1,513 units last month, it added.

Light commercial vehicle sales in the domestic market last month stood at 3,487 units as compared with 1,225 units in May. (PTI)

01 Jul 2021, 03:20:57 PM IST

Nissan dispatches jump to 3,503 units in June

Nissan Motor India on Thursday said its wholesales rose by about three-fold to 3,503 units in June as compared with May this year. The company had dispatched 1,235 units in May this year.

01 Jul 2021, 03:20:13 PM IST

TVS Motor's June sales rises YoY

TVS Motor’s total sales for the month of June stood at 2,51,886 units compared to 1,66,889 units in May. Total sales stood at 1,98,387 units in June 2020.

01 Jul 2021, 03:05:57 PM IST

India regains 90% of pre-virus petrol sales as demand rebounds

India’s petroleum consumption has rebounded to 90% of pre-virus levels as motorists took back to the roads with covid-19 curbs being eased, helping underpin optimism about a recovery in global energy demand. Average daily sales of the automobile fuel expanded by more than a fifth in June from the previous month, when demand was hurt by a devastating second coronavirus wave that swept the country. Sales of diesel, which accounts for more than half of oil consumption, were 13% higher than May, but remained 19% weaker than in the same period in 2019. The recovery in energy consumption in India adds to signs of a bounceback in energy demand, which has been led by China, the US and Europe, and has spurred a powerful rally in futures prices. (Bloomberg)

01 Jul 2021, 03:00:21 PM IST

Milan Desai, lead equity analyst, Angel Broking, on M&M's Jun sales

"M&M has reported a good sales numbers for June. The total units including tractors are up 95% month-on-month (m-o-m) to 81,186 units on the back of strong rebound across categories. Utility vehicles were up 109% m-o-m to 16,636 units, LCVs/pick-ups were 75% m-o-m to 12,347 units while total tractors grew by 99% m-o-m to 48,222 units. Domestic tractor sales were up 105% m-o-m to 46,875 units. In-line with commentary were expect the auto demand recovery to play out over the next few months. As for tractors, we expect the demand to remain strong as the rural incomes have been relatively unaffected from the impact of the second pandemic wave."

01 Jul 2021, 02:55:33 PM IST

Traders see RBI testing market with biggest 10-year bond

Bond traders expect India’s central bank to auction a record amount of its current benchmark 10-year bond, a measure that could give it an edge in capping yields. While selling more bonds would typically lead to higher yields, the Reserve Bank of India has better control over the sales of an existing benchmark since it already owns a majority of it. (Bloomberg)

01 Jul 2021, 02:47:56 PM IST

Flipkart launches Shopsy app for small entrepreneurs

E-commerce marketplace Flipkart has launched Shopsy, an app that will enable individuals to start their online businesses without any investment. With the ability to influence their local network and fulfill their aspirations, users of Shopsy will be able to share catalogues of a wide selection of 15 crore products offered by Flipkart sellers, across product categories with potential customers via popular social media and messaging apps.

01 Jul 2021, 02:46:26 PM IST

TCS, Royal London expand partnership

Tata Consultancy Services (TCS) has expanded its strategic partnership with UK-based mutual insurance and pensions companuy Royal London, for transformation of the latter's pensions platform estate and deliver market-leading services to members and

customers.

01 Jul 2021, 02:29:43 PM IST

Franklin Templeton's Vivek Kudva gets relief on Sebi ban

The Securities Appellate Tribunal (SAT) put on hold on Thursday a directive to ban a senior executive of US money manager Franklin Templeton (FT) after he challenged it saying the market regulator had "overstepped" its powers in taking the decision. Vivek Kudva, head of Asia Pacific distribution at FT, was barred last month by the Securities and Exchange Board of India (SEBI), which said he and his family members used non-public information to sell holdings worth about $4 million in Franklin debt funds that were shut down weeks later and caused investor panic. (Read here)

01 Jul 2021, 02:29:43 PM IST

Milan Desai, lead equity analyst, Angel Broking on Tata Motors' June sales data

Tata Motors has posted good volume recovery on MoM basis. The total Domestic Sales have grown by 78% MoM (+125% YoY) to 43,704 units. Total Domestic CV sales grew by 107% MoM/108% YoY to 19,594 units while PVs were up 59% MoM to 24,110 units. CV exports were up 23% MoM to 2,506 units, as against 856 units in May’20. Although the recent months have been impacted, we expect the scenario to gradually improve for CVs during H2 with better freight availability and pick up in construction. We have a positive view on the stock on due to factors such as focus on electrification, focus on profitability, and cash flows at JLR and rebound in overall demand, among others.


01 Jul 2021, 02:29:43 PM IST

Hyundai total dispatches jump to 54,474 units in June

Hyundai Motor India Ltd (HMIL) on Thursday reported total sales of 54,474 units in June, up 77% from 30,703 units in May, recovering from disruptions induced by the second wave of covid-19. The automaker's domestic dispatches to its dealerships stood at 40,496 units last month, as compared to 25,001 units in May this year, the automaker said in a statement. Exports rose to 13,978 units in June, as against 5,702 units in May, it added. "With markets opening up and improvement in customer sentiments, the company is committed to deliver innovative and world class quality products and services meeting and exceeding customers aspirations," HMIL director (Sales, Marketing & Service) Tarun Garg noted.

01 Jul 2021, 02:29:44 PM IST

Ashok Leyland total Jun dispatches zoom to 6,448 units

Hinduja Group flagship firm Ashok Leyland on Thursday posted two-fold increase in total sales at 6,448 units as compared with 3,199 units in May this year. Total domestic vehicle dispatches to dealerships stood at 5,851 units last month as against 2,738 units in May, Ashok Leyland said in a regulatory filing.

Medium and heavy commercial vehicles (M&HCV) sales in the domestic market stood at 2,364 units in June as against 1,513 units last month, it added.

Light commercial vehicle sales in the domestic market last month stood at 3,487 units as compared with 1,225 units in May. (PTI)

01 Jul 2021, 02:14:38 PM IST

Alembic Pharma gets USFDA nod for generic Nitrofurantoin capsules

Drug firm Alembic Pharmaceuticals on Thursday said it has received approval from the US health regulator for its generic Nitrofurantoin capsules indicated for the treatment of urinary tract infections. The company has received final approval from the US Food & Drug Administration (USFDA) for its abbreviated new drug application (ANDA) for Nitrofurantoin capsules, USP in the strengths of 25 mg, 50 mg and 100 mg, Alembic Pharma said in a regulatory filing. The product is a generic version of Alvogen Malta Operations Ltd's Macrodantin capsules in the same strengths, it added.

01 Jul 2021, 02:00:45 PM IST

Sensex heatmap

Bajaj Auto leads the index after reporting strong sales in June.
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Bajaj Auto leads the index after reporting strong sales in June.
01 Jul 2021, 02:00:46 PM IST

Larsen & Toubro bags orders across biz segments in domestic market

Infrastructure company Larsen & Toubro (L&T) on Thursday said it has secured orders from prestigious clients for its businesses in India.

The company did not provide the value of contracts but said the orders fall under the "significant" category, which ranges between 1,000 crore and 2,500 crore, according to the classification of contracts. (Read here)

01 Jul 2021, 01:57:59 PM IST

City gas distributors get a boost from govt's draft rules

The petrol and natural gas ministry has brought draft rules that will limit competition in supply of gas to commercial and idustrial segments, CNBCTV18 reported. Earlier, Petroleum and Natural Gas Regulatory Board (PNGRB)'s rules would have increasec ompetition for city gas distributors by 20%. However, the Centre's draft rules limit sale of CNG and PNG in authorised areas only to licensed entities. Even third parties designated as common carriers by PNGRB cannot supply CNG and PNG without a license, according to the rules.

01 Jul 2021, 01:47:10 PM IST

Power ministry eyes revival of gas-based power plants: report

Govt to make a jt working task force of petrol and natural gas and power ministries to work on procurement for power projects, CNBCTV18 reported citing people familiar with the matter. The objective is to avoid subsidies. Plan to bring states on board for supply assurance.

01 Jul 2021, 01:41:16 PM IST

Dr Reddy's denied approval for Phase 3 trials of Sputnik Light vaccine

The Central government's Subject Expert Committee (SEC) has denied permission to Dr Reddy's Laboratories for conducting Phase 3 trials of Russia's COVID-19 vaccine Sputnik Light in India. "The SEC has denied permission to Dr Reddy's to conduct phase-3 trials on the Russian vaccine Sputnik Light in India," people familiar with the matter said. After launching Sputnik V, Russia had introduced a new single-dose vaccine called Sputnik Light in May. Sputnik Light has also been developed by the Russian Ministry of Health, the Gamaleya National Research Centre of Epidemiology and Microbiology and the Russian Direct Investment Fund (RDIF). (ANI)

01 Jul 2021, 01:33:27 PM IST

Indian crypto exchanges flounder as banks cut ties after RBI frown

Indian cryptocurrency exchanges are scrambling to secure viable, permanent payment solutions to ensure seamless transactions after banks and payment gateways started cutting ties with them, six industry insiders said. The exchanges are struggling to cope after the central bank, the Reserve Bank of India (RBI), which has said it does not favour digital currencies, out of concern over their impact on financial stability, informally asked banks to steer clear.

Customer complaints have inundated all India's key exchanges as the pullout by major payment gateways has hit transactions, according to social media and users. (Reuters)

01 Jul 2021, 01:19:35 PM IST

Milan Desai, lead equity analyst, Angel Broking on Escorts Jun sales numbers

"Escorts Ltd monthly wholesale numbers have rebounded strongly in Jun’21, growing at 95.1% mont-on-mont (m-o-m). On a year-on-year (y-o-y) basis, the volumes grew by 15.5%. June has experienced gradual opening after situation started to normalize in the last week of May. The rural economy was impacted severely this time around but has shown strength as the economics are favourable. Domestic sales for Jun stood at 11,956 units (+12.5% y-o-y/+94.2% m-o-m) while exports stood at 577 units (+153% y-o-y/+118% m-o-m). As per the management, the dealerships which were barely operational in the past month and have mostly resumed although with limited hours of operations. Moreover, the inventory levels are normal at company and with channel and the company has announced a price hike on all tractors which will be effective 1 July. Apart from cost control measures, price hikes would aid in offsetting RM pressure. We maintain our positive view on Escorts Ltd and expect the demand to remain strong owing to favourable rural sentiments and resumption of construction activity in H2."

01 Jul 2021, 01:16:20 PM IST

Icra expects 12-14% growth for two-wheeler sales this fiscal

Ratings agency Icra on Thursday maintained its growth forecast for two-wheeler sales at 12-14% for the ongoing fiscal, despite the second wave of the coronavirus pandemic hitting non-metro and hinterlands that dampened rural consumer sentiments. A low base, healthy rural cash flows, and continued preference for personal mobility would support two-wheeler demand in the festive season, Icra said in a statement. "While the overall consumption and investment demand may take some time to recover after the devastating second wave, India's rural economy is expected to provide some support," it said.

Icra said it "expects a 12-14% year-on-year growth in two-wheeler (2W) volumes in FY2022, amid an evolving covid-19 situation".

01 Jul 2021, 01:00:10 PM IST

Prathamesh Mallya, AVP- Research, Non-Agri Commodities and Currencies, Angel Broking on crude oil

"On Wednesday, WTI crude rose over 0.7% to close at $73.5 per barrel as depleting US Crude inventories signaled towards a steady recovery in oil demand. However, worries over increase in the highly contagious Delta variant infected cases in major oil consuming nations kept the markets cautious.

As per reports from the Energy Information Administration, US crude inventories dipped by 6.7 million barrel last week surpassing the market expectation of a 4.2 million barrel drop and reporting the sixth consecutive weekly fall. Oil prices have reported significant growth in the past months as prospects of increasing global fuel demand in the coming quarters with economies reopening underpinned the prices. Global investors are expected to remain cautious ahead of the Organization of the Petroleum Exporting Countries and allies meet scheduled today. The group is returning 2.1 million barrels per day in the global markets from May to July. Markets expect that the group might continue to ease production curbs imposed in 2020 following bets on boost in fuel demand in the months ahead."


01 Jul 2021, 12:47:04 PM IST

Tata Motors' June domestic sales rise 125% YoY

Tata Motors' total sales for the month of June were up 125% to 43,704, from 19,387 a year ago. Total sales in the domestic and international market in Q1FY22 stood at 1,14,784 vehicles, compared to 24,978 units during Q1FY21.

01 Jul 2021, 12:37:43 PM IST

India conscious of responsibilities as data powerhouse; work underway on all aspects of data protection: PM Modi

01 Jul 2021, 12:29:31 PM IST

Nissan announces first UK battery gigafactory, new electric car

Japanese auto giant Nissan on Thursday announced plans to build the UK's first car-battery "gigafactory", where it will build a new electric vehicle. Prime Minister Boris Johnson hailed the post-Brexit investment totalling £1.0 billion ($1.4 billion, 1.2 billion euros), which is set to create 6,200 jobs, as "a major vote of confidence in the UK". Nissan's Chinese battery supplier Envision AESC will invest £450 million to build the battery plant that will be run on renewable energy and power up to 100,000 Nissan electric vehicles per year.

The facility will be built next to Nissan's largest European factory in Sunderland.

01 Jul 2021, 12:24:42 PM IST

Franklin fund exec says India regulator exceeded authority in banning him

A senior executive of US money manager Franklin Templeton (FT) told an Indian appeals tribunal the country's market watchdog "overstepped" its powers by banning him from the securities market for unfair trade practices, a filing showed. Vivek Kudva, head of Asia Pacific distribution at FT, was barred last month by the Securities and Exchange Board of India (Sebi), which said he and his family members used non-public information to sell holdings worth about $4 million in Franklin debt funds that were shut down weeks later and caused investor panic. In an appeal filed at the Securities Appellate Tribunal, Kudva argued that Indian law prohibits unfair trade practices, but mutual fund redemptions were not a "trade" and were akin to withdrawing one's own money from a bank. (Reuters)

01 Jul 2021, 12:14:45 PM IST

Prathamesh Mallya, AVP- Research, Non-Agri Commodities and Currencies, Angel Broking on gold

"On Wednesday, spot gold gained about 0.5% to close at $1,769.8 per ounce. The bullion metals headed towards a monthly decline following expectation of a hawkish approach by the US Federal Reserve. The yellow metal continued to trend lower ahead of the US Job data scheduled for later this week as the dollar strengthened making the greenback priced good less desirable for other currency holders. Rallying dollar and rising global equities has taken all the steam out of the bullion metals. Any developments in the US economy are expected to increase bets on a tighter monetary policy by their central bank which has dented appeal for the bullion metal. Also reports suggesting that the US central bank might soon begin to clampdown the massive asset purchase programme as soon as this year further added to the woes for gold."

01 Jul 2021, 12:12:17 PM IST

Maruti sells 1.47L units in June, up from 57,428 units a year ago

01 Jul 2021, 12:05:03 PM IST

Toyota dispatches 8,801 units in June as covid situation improves

Toyota Kirloskar Motor (TKM) on Thursday reported 13-fold increase in dispatches to dealers at 8,801 units in June with lifting of restrictions across various states due to the gradual improvement in the covid situation. The company had reported wholesales of 707 units in May this year and 3,866 units in June last year. “Having resumed production with a 50% workforce last month after the gradual unlocking in Karnataka, our immediate goal was to cater to the pending orders of our customers, said TKM Senior Vice President Naveen Soni said in a statement. He added that although dispatches only began by the third week of June, the company has been able to register a 128% growth over domestic sales in June 2020.

01 Jul 2021, 11:52:09 AM IST

Milan Desai, lead equity analyst, Angel Broking on Bajaj Auto

"Bajaj Auto reported total monthly sales of 3,46,136 units for June’21, up by 24.5% YoY and 27.3% MoM. Domestic sales were up by 7% YoY/166% MoM to 1,61,836 units while exports at 1,84,300 units, grew by 45% YoY but were down 13% MoM due to higher base. Domestic 2Ws sequential growth rebounded strongly at 158% (+6% YoY) while exports were down 14% MoM (+43% YoY). Domestic CVs (3Ws) grew by 38% YoY to 6,196 units as against 488 units in May’21 while exports grew by 59% YoY to 29,362 units but the same were down 4.7% MoM. We expect Bajaj to fare well among peers owing to high exposure to exports and believe that domestic 2Ws would take longer to recover compared PVs and CVs. We currently have a neutral rating Bajaj Auto."

01 Jul 2021, 11:35:57 AM IST

MG Motor India reports retail sales of 3,558 units in June

MG Motor India on Thursday reported retail sales of 3,558 units in June. The company had sold 1,867 units in the same month last year, when sales were impacted by the nationwide lockdown imposed to curb spread the coronavirus pandemic, although easing of restrictions had started then. In May this year sales were at 1,016 units at the peak of the second wave of COVID-19. With phased unlocking, the carmaker registered a significant increase in enquiries and bookings, the company said in a statement. In June the company sold 3,002 units of Hector SUV, 306 units of Gloster SUV and 250 units of ZS EV.

01 Jul 2021, 11:24:57 AM IST

Escorts logs tractor sales at 12,533 units for June

Farm equipment manufacturer Escorts Agri Machinery (EAM) on Thursday said its tractor sales stood at 12,533 units for June. The company sold 10,851 tractors in the corresponding month a year ago. Domestic tractor sales stood at 11,956 units as against 10,623 units in June last year, Escorts said in a BSE filing. Escorts Agri Machinery's exports increased to 577 units from 228 tractor units sold in June last year. (PTI)

01 Jul 2021, 11:09:12 AM IST

Jyoti Roy - DVP- Equity Strategist, Angel Broking Ltd on June factory PMI

"India's manufacturing PMI registered a reading of 48.1 in June as compared to 50.8 in May. This is the first reading of below 50 since July 2020 and signifies sequential contraction in the manufacturing sector due to the strict containment measures enforced to contain the second Covid wave. However the pace of contraction was much more moderate that what was witnessed during the first wave. While the impact on manufacturing was relatively mild the impact on services is expected to be higher. However gradual easing of restrictions through June has led to significant improvement in economic activities by the end of the month which should be reflected in next month’s PMI numbers. We believe that markets will largely ignore the adverse impact of the pandemic in Q1 and will take cues from the trajectory of new Covid cases in India."


01 Jul 2021, 11:04:40 AM IST

Enhanced GST revenue collections should now be 'new normal': FM

Commending taxmen for the enforcement measures in dealing with GST fraud, Finance Minister Nirmala Sitharaman on Thursday said the enhanced revenue collection in the recent months should now be the "new normal". In a message to tax officers on the fourth anniversary of historic tax reform GST, she said in the last four years the taxpayer base has almost doubled from 66.25 lakh to 1.28 crore. She said for eight months in a row, GST revenues have crossed 1 lakh crore mark and we have seen record GST revenue collection of 1.41 lakh crore in April 2021.

01 Jul 2021, 10:43:07 AM IST

Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments on Nifty trajectory

"The Nifty has a stiff resistance at the 15,900 level and until we do not get past this, we cannot move to higher levels. 16,100 is the next target for the index and that target is active as long as the market does not break the support of 15,400."

01 Jul 2021, 10:42:09 AM IST

India's manufacturing PMI falls to 48.1 in June

An intensifying pandemic and strict curbs hit demand, resulting in a negative impact India's manufacturing industry, IHS Markit said. "Registering 48.1 in June (May: 50.8), the seasonally adjustedIHS Markit India Manufacturing Purchasing Managers’ Index® (PMI®) was below the critical no-change mark of 50.0 for the first time since July 2020," according to the report.

01 Jul 2021, 10:42:09 AM IST

Domestic LPG prices hiked

The price of non-subsidised LPG cylinders has been hiked by 25 effective from July 1. A domestic cylinder weighing 14.2 kg will now cost 834.50 in Delhi. The price of a 19-kg cylinder has also been increased by 76 and will cost 1,550 in Delhi, ANI said. In Mumbai and Kolkata too, the price will be 834.50 per cylinder while in Chennai, one non-subsidised LPG cylinder will cost 850.50. LPG prices are revised at the beginning of every month and with the latest hike from July 1, LPG price now has increased by 140 per cylinder in the last six months. The price remained unchanged in June. The price hike comes along with the steep hike in petrol price which is inching towards a three-digit figure in several metro cities.

01 Jul 2021, 10:30:24 AM IST

Bajaj Auto leads gains

Nifty Auto index
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Nifty Auto index
01 Jul 2021, 10:25:29 AM IST

Rupee slips 5 paise to 74.37 against US dollar in early trade

01 Jul 2021, 10:13:24 AM IST

Oil prices edge higher ahead of Opec+ meet

Oil prices edged higher on Thursday, supported by lower U.S. inventories, as investors waited for a decision from key producers on whether they would maintain or ease supply cuts in the second half of the year. Brent crude for September gained 17 cents, 0.2%, to $74.79 a barrel by 0355 GMT while the U.S. West Texas Intermediate crude for August was at $73.68 a barrel, up 21 cents, or 0.3%, close to its highest since 2018 of $74.45.WTI rose more than 10% in June while Brent added over 8%, touching highs since 2018, as summer travel picked up and more people got vaccinated.

01 Jul 2021, 10:00:36 AM IST

Auto, PSU banks drive gains

Nifty sectoral index
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Nifty sectoral index
01 Jul 2021, 10:00:37 AM IST

Voda Idea trades lower

The telco's stock was tradign at 9.34 apice, down 6.13% at 9:57 am. On Wednesday, Vodafone Idea reported a Q4 net loss of 7,022.8 crore as compared to 4,532.4 crore in the previous quarter. It had posted a 11,643 crore net loss in the same quarter last year (YoY). Its average revenue per user (ARPU) for Q4FY21 declined to 107 compared to 121 in Q3FY21, on account of removal of IUC, adjusting for which ARPU was broadly flat this quarter, it said. Vodafone Idea had over 267.8 million subscribers as of 31 March 2021.

01 Jul 2021, 09:53:57 AM IST

India's unemployment rate falls 9.17% in June: CMIE

India’s June unemployment rate fell to 9.17% from the May figure of 11.90%, data from the Centre for Monitoring Indian Economy (CMIE) showed on Thursday. Most economic activities have resumed in the south Asian nation after state governments eased pandemic curbs following a fall in coronavirus infections, which peaked in May.

01 Jul 2021, 09:44:10 AM IST

India reports 48,786 new covid-19 cases

India reported on Thursday 48,786 new covid-19 cases in the last 24 hours, data from the health ministry showed, with the active caseload at 523,257.

01 Jul 2021, 09:32:11 AM IST

Bajaj Auto gains

Bajaj Auto's stock was trading at 4,242.65 apiece, up 2.65% at 9:31 am. The company reported that its total vehicle exports in June were at 184,300 units, up 45% from 126,908 a year ago. The company sold 161,836 units in the domestic markets up 7% year-on-year for the month of June.

01 Jul 2021, 09:25:36 AM IST

Market opening

The Sensex opened at 52,599.62, up 116.91 points, or 0.22%, while Nifty was at 15,755.05, up 33.55 points, or 0.21%. Auto, steel stocks opened in green. M&M, Bharti Airtel, ICICI Bank were top gainers on the 30-share Sensex at market opening.

Sensex at open
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Sensex at open
01 Jul 2021, 09:15:23 AM IST

Market pre-opening

The Sensex was at 52,638.50, up 155.79 points or 0.30% at market pre-opening, while the Nifty was at 15,755.05, up 33.55 points or 0.21%.

Sensex at pre-open
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Sensex at pre-open
01 Jul 2021, 09:02:44 AM IST

Petrol costs over ₹100 in seven state capitals now

Petrol and diesel rates were kept unchanged for the second day in a row on Thursday after they breached all records in sixteen hikes in June.

After the latest rate revision, petrol is retailing at an all-time high of 98.81 a litre in Delhi while diesel costs 88.18 per litre. In Mumbai, petrol is on the verge of crossing 105 and is being sold at 104.90 per litre, whereas diesel has reached 96.72 per litre.

01 Jul 2021, 08:50:54 AM IST

Govt panel recommends against allowing SII to conduct trial of Covovax on children aged 2-17 yrs

An expert panel of the country's central drug authority on Wednesday recommended against granting permission to the Serum Institute of India (SII) to conduct the phase 2/3 trial of covid-19 vaccine Covovax on children aged two to 17 years, sources said. The SII applied to the Drugs Controller General of India (DCGI) on Monday seeking permission for conducting a trial of Covovax on 920 children, 460 each in the 12-17 and 2-11 age groups, at 10 sites. (PTI)

01 Jul 2021, 08:38:29 AM IST

Twitter's website not working for some users - Downdetector

Twitter was down late on Wednesday for multiple users, with most of them reporting issues with the social media platform's website, according to outage monitoring website Downdetector. More than 6,000 user reports indicated issues with Twitter, about 93% of those being related to its website, according to Downdetector. Twitter did not immediately respond to a Reuters request for comment after business hours. Downdetector tracks outages by collating status reports from a series of sources, including user-submitted errors on its platform. (Reuters)

01 Jul 2021, 08:29:13 AM IST

Zydus applies for emergency use nod for covid-19 vaccine

Drugmaker Zydus Cadila said on Thursday it has applied to the Drugs Controller General of India for emergency use approval of its covid-19 vaccine.

01 Jul 2021, 08:16:11 AM IST

Market opening

Markets are likely to remain in consolidation phase on Thursday while trends in SGX Nifty suggest a negative opening of Indian benchmark indices. On Wednesday, the BSE Sensex ended at 52,482.71, down 66.95 points or 0.13% and the Nifty closed at 15,721.50, down 26.95 points or 0.17%.

01 Jul 2021, 08:07:59 AM IST

Stocks to Watch

Adani Green, banking stocks, Vodafone Idea, JSW Steel, among other stocks could be in focus today. (Read here)

01 Jul 2021, 07:57:28 AM IST

Gold dips on firmer dollar as market eye US jobs data

Gold prices edged lower on Thursday, as the dollar hovered near a three-month peak, with investors looking ahead to a key US jobs report due later this week for clues on what it might mean for monetary policy. Spot gold eased 0.1% to $1,769.11 per ounce, as of 0117 GMT. U.S. gold futures fell 0.2% to $1,768.10.

01 Jul 2021, 07:42:27 AM IST

Asian markest open lower

Asian stocks slipped Thursday amid a firmer dollar as traders weighed signs that Covid-19 flareups are hampering some of the region’s manufacturing and looked ahead to a US payrolls report. Japan and China were among the major equity markets posting modest losses. Purchasing managers’ indexes suggested curbs imposed to fight the virus had sapped output in parts of Asia. US equity contracts rose after the S&P 500 completed one of the best first halves since 1998 for US shares.

S&P 500 futures added 0.2% as of 10:46 a.m. in Tokyo. The index rose 0.1%

Nasdaq 100 futures rose 0.1%. The gauge fell 0.1%

Japan’s Topix index fell 0.3%

Australia’s S&P/ASX 200 index shed 0.4%

South Korea’s Kospi index dropped 0.4%

China’s Shanghai Composite gauge fell 0.3%

Hong Kong’s Hang Seng index is closed for a holiday

SGX Nifty slipped 0.29%

01 Jul 2021, 07:32:17 AM IST

Wall Street indices close higher

Wall Street closed out its fifth straight quarterly gain Wednesday, continuing its comeback from a steep drop in early 2020 at the onset of the coronavirus pandemic. The S&P 500 edged up 0.1%, bringing its advance over the past three months to 8.2% and 14.4% for the first half of the year. The benchmark index finished June with a 2.2% gain and its third straight all-time high as it extended its winning streak to a fifth day. Stocks have been pushing higher on optimism that the economy is strengthening and that the Federal Reserve will keep interest rates low for a while longer. The S&P 500 index rose 5.70 points to 4,297.50. The Dow Jones Industrial Average added 210.22 points, or 0.6%, to 34,502.51. The Nasdaq composite fell 24.38 points, or 0.2%, to 14,503.95. The tech-heavy index hit record highs on Monday and Tuesday.

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