Home / Markets / Stock Markets /  Sensex ends 848 points higher led by bank, financials and auto; Nifty tops 14900

Sensex ends 848 points higher led by bank, financials and auto; Nifty tops 14900

Market closing: Key indices ended 1.7% higher eachPremium
Market closing: Key indices ended 1.7% higher each

  • Market closing: Key benchmark indices ended with strong gains on Monday with Sensex ending nearly 850 points higher and Nifty topping 14,900. Banks, financials and auto stocks were the best gainers among sectors

Benchmark indices ended strong on Monday amid steady fall in covid-19 cases in India. Sensex gained over 850 points and Nifty crossed 14,900. While banks were the best gainers among sectors, Cipla, Bharti Airtel and L&T were the biggest laggards among stocks.

17 May 2021, 03:33:48 PM IST

Sensex ends around 850 points higher; Nifty above 14,900

Benchmark indices ended 1.7% higher on Monday amid steady fall in covid-19 cases in India. Sensex gained over 850 points to 49,580and Nifty crossed 14,900. While banks were the best gainers among sectors, Cipla, Bharti Airtel and L&T were the biggest laggards among stocks

Sensex at close
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Sensex at close
17 May 2021, 03:27:03 PM IST

Dr Reddy’s to supply Sputnik V to Centre only after domestic production starts in July

The wait for India’s third covid-19 vaccine may get longer as Dr Reddy’s Laboratories plans to supply Sputnik V only when the domestic production begins around July, an official from the Hyderabad-based drugmaker said on Monday.

Meanwhile, Apollo Hospitals and Dr Reddy's said they are collaborating to initiate a COVID-19 vaccination programme with Sputnik V.

17 May 2021, 03:21:46 PM IST

Global stocks steady

Stocks fluctuated and US equity futures slipped on Monday as investors weighed risks to the outlook including inflation and a spike in covid-19 cases in some parts of the world.

The Stoxx Europe 600 Index was little changed.

The MSCI Asia Pacific Index was little changed.

The MSCI Emerging Market Index gained 0.1%.

17 May 2021, 03:14:03 PM IST

Oil steady near $65

Oil was steady as a demand recovery in key regions raised optimism about rising fuel consumption, despite a Covid-19 flare-up in parts of Asia.

Futures in New York traded near $65 a barrel while Brent was just under $69 in London.

17 May 2021, 03:06:17 PM IST

Sensex zooms 850 points

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17 May 2021, 02:52:47 PM IST

WhatsApp privacy policy not conforming to Indian IT laws: Centre to HC

The Centre on Monday told the Delhi High Court that it views the new privacy policy of WhatsApp as a violation of the Indian Information Technology (IT) law and rules, and sought directions to the social media platform to make it clear whether it was confirming to the same.

The central government's claim was made before a bench of Chief Justice D N Patel and Justice Jyoti Singh during hearing of several pleas challenging WhatsApp's new privacy policy, which according to the platform has come into effect from May 15 and has not been deferred.

WhatsApp told the bench that while its new privacy policy has come into effect from May 15, it would not start deleting accounts of those users who have not accepted it and would try to encourage them to get on board. (PTI)

17 May 2021, 02:39:57 PM IST

India's electricity use falls in May due to COVID-19 lockdowns

India's electricity use fell 6.2% during the first half of May compared with the second half of April, government data showed, as coronavirus lockdowns imposed by states across the country stifled power demand.

Total daily average electricity supply to states fell to 3,666 billion units during the first sixteen days of May, compared with 3,910 billion units during the second half of April, data from federal grid regulator POSOCO showed.

Industries and offices account for half the country's annual electricity consumption. Power generation in India generally starts rising from April and peaks in May due to a higher air-conditioning load. (Reuters)

17 May 2021, 02:32:11 PM IST

Ten states account for over 75% of India's total active cases

India's total COVID-19 active cases have decreased to 35,16,997 with a net decline of 1,01,461 cases in the active caseload in a span of 24 hours, the Union Health Ministry said on Monday.

It said Karnataka, Maharashtra, Kerala, Tamil Nadu, Andhra Pradesh, Rajasthan, Uttar Pradesh, West Bengal, Gujarat and Chhattisgarh cumulatively account for 75.04 per cent of India's total active cases.

The daily new COVID cases being registered in India was less than 3 lakh after 26 days, the ministry said. (PTI)

17 May 2021, 02:23:49 PM IST

Federal Bank Q4 net profit rises 58.6% to ₹478 crore; NII up 17% YoY

Federal Bank on Monday reported a 58.6% rise in net profit at 477.8 crore for the quarter ended March as compared to 301.2 crore in the same quarter last year. The bank's net interest income (NII) stood at 1,420.4 crore, up 16.8% from 1,216 crore on a yearly basis. The bank's asset quality deteriorated as gross non-performing assets (NPA) came at 3.41% versus 2.71% on a quarterly basis while net NPAs stood at 1.19% against 0.90% quarter-on-quarter (QoQ). Provisions & contingencies stood at 242.3 crore, down 42.3% QoQ and 57.3% YoY. (Read here)

17 May 2021, 02:14:14 PM IST

AirAsia announces free cancellation, rescheduling for flights to and from West Bengal amid lockdown

Budget carrier AirAsia India on Monday announced free cancellation and rescheduling for flights to and from West Bengal in the wake of a 15-day lockdown in the state.

A 15-day lockdown came into force in Bengal on Sunday, with the government putting in place a host of stringent measures to curb the spread of COVID-19.

Further, the Bangalore-based private carrier said it was extending the similar facility, announced earlier for flights to and from Karnataka, Delhi, Maharashtra and Tamil Nadu as well for the current duration of the respective state lockdowns. (PTI)

17 May 2021, 01:59:21 PM IST

SBI top gainer, Cipla down nearly 3%

NSE Gainers/ Losers
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NSE Gainers/ Losers
17 May 2021, 01:55:26 PM IST

NEFT to remain unavailable for 14 hrs on Sunday due to technical upgrade

The popular National Electronic Funds Transfer (NEFT) system for online transfer of funds will remain unavailable for 14 hours from Saturday mid-night till Sunday afternoon due technical upgrade, the Reserve Bank of India said on Monday. A technical upgrade of NEFT, targeted to enhance the performance and resilience, is scheduled after the close of business of 22 May 2021, RBI said in a statement. "Accordingly, NEFT service will not be available from 00:01 hrs to 14:00 hrs on Sunday, 23 May 2021. The RTGS system will continue to be operational as usual during this period," the RBI said. (PTI)

17 May 2021, 01:46:11 PM IST

Ryanair posts $1 bn loss, says profits are distant prospect

Ryanair Holdings Plc posted a record annual loss and said it’s unlikely to do much better than break even this year, even if vaccination programs allow a widespread easing of travel curbs.

While bookings have increased significantly since April 1, pointing to a strong recovery in the second half, forward visibility remains “close to zero," making it impossible to provide more meaningful financial guidance, the Irish company said in a statement Monday. (Bloomberg)

17 May 2021, 01:37:16 PM IST

Sensex heatmap

Sensex post noon
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Sensex post noon
17 May 2021, 01:26:15 PM IST

Balkrishna industries gains nearly 10%

Shares of Balkrishna Industries Ltd increased by nearly 10% on Monday on the National Stock Exchange, touching a new 52-week high. Balkrishna Industries’ March quarter earnings are higher than expectations and that has cheered investors. Earnings before interest, tax, depreciation and amortization (Ebitda) increased by a robust 37% year-on-year to 558 crore.

17 May 2021, 01:13:48 PM IST

Bitcoin hits 3-month low, then rallies, on Musk tweets

Bitcoin rallied from three-month low on Monday in a volatile session that saw investors initially selling and then buying cryptocurrencies in the wake of Tesla boss Elon Musk's tweets about the carmaker's bitcoin holdings.

In his latest tweet, Musk said "Tesla has not sold any bitcoin". That seeming clarification came after his weekend tweets that hinted Tesla is considering or may have already sold some of its massive holdings. (Reuters)

17 May 2021, 12:52:34 PM IST

Sensex rallies 600 points led by HDFC Bank, ICICI Bank, SBI

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17 May 2021, 12:41:05 PM IST

Kolte-Patil up 2%; signs two new realty projects in Pune

Real estate major Kolte-Patil Developers said on Monday it has signed two new projects with a combined saleable area of 13 lakh square feet under the development management model.

The company will lend its brand and jointly collaborate with land owners to oversee product design, sales and marketing, project quality and cash flow management, leading to time-bound handover to buyers.

17 May 2021, 12:29:43 PM IST

Dr Reddy’s Q4 a mixed bag: Covid portfolio and Sputnik to drive forward prospects

Dr Reddy’s Laboratories Ltd's Q4 revenue growth remained soft with growth in various geographies being a mixed bag. The North American sales contributing 37% to overall earnings fell 3%. This nevertheless was on a large base of last year. Q4 FY20 had seen much higher volumes due to covid-19 related stocking.

The sequential growth of 1% despite new product launches, however, also failed to impress. The company attributed the same to price erosion. And, hence, the street will be watchful on the impact of price erosion moving forward too. (Full report)

17 May 2021, 12:15:29 PM IST

Sensex at day's high, up 550 points

Sensex at noon
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Sensex at noon
17 May 2021, 12:04:53 PM IST

WPI Inflation at 10.49% in April against 7.39% in March

17 May 2021, 11:48:48 AM IST

Sanofi, GSK report positive interim results for their covid-19 shot

An experimental covid-19 vaccine developed by Sanofi and GlaxoSmithKline showed a robust immune response in early-stage clinical trial results, enabling them to move to a late-stage study, the French drugmaker said on Monday.

Sanofi and Britain's GSK said a global phase III trial would start in the coming weeks and involve more than 35,000 adults, with the hope of seeing the vaccine approved by the fourth quarter after having initially targeted the first half of this year before a setback.

17 May 2021, 11:46:27 AM IST

Indigo Paints stock down on lackluster Q4 operating performance

Shares of Indigo Paints Ltd, which listed in February, slipped nearly 6% on the NSE in Monday's opening trade reacting to the company's March quarter earnings. While it's volumes growth at 41% year-on-year, was in-line with analysts' estimates, net profit and Ebitda declined by around 9% and 8% y-o-y, respectively.

Akin to peers, elevated raw material prices are seen as threat to the company's margins. But the hit on margins for Indigo Paints has been higher than peers. The company's gross and Ebitda margins declined by 570 basis points (bps) and 890bps, compared to the year ago period, respectively. One basis point is one hundredeth of a percentage point. The consolidated gross margin of Asian Paints declined by 270bps y-o-y in the March quarter, however its Ebitda margin expanded in Q4FY21.

17 May 2021, 11:22:48 AM IST

BSE SmallCap up 1%

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17 May 2021, 11:18:57 AM IST

Cyclone Tauktae : Mumbai airport to shut operations between 11 am and 2 pm

The country's second busiest airport at Mumbai will close down all flight operations between 11 am and 2 pm on Monday as a precautionary measure due to the approaching cyclone Tauktae.

"With the approach of the impending Cyclone Tauktae, Chhatrapati Shivaji Maharaj International Airport (CSMIA) is closing down all flight operations from 1100-1400 hrs of 17th May 2021 as a precaution. The airport has so far witnessed 1 diversion," Mumbai International Airport Limited (MIAL), which operates the airport said in a statement.

17 May 2021, 11:07:08 AM IST

Cipla down as March quarter earnings disappointment

Drug manufacturer Cipla Ltd disappointed with its weaker-than-expected March quarter performance. The biggest dampener was the tepid 4% year-on-year growth in domestic business. The domestic market contributes 40% to the overall earnings and is a key driver for Cipla’s growth. Analysts at ICICI Securities Ltd said that Cipla's “Q4 results were below I-direct estimates on all fronts amid lower-than-expected formulations sales across geographies (ex-South Africa) and operational performance."

17 May 2021, 10:57:49 AM IST

Larsen & Toubro down 1.3%

Engineering and construction giant Larsen & Toubro reported 11.3 % rise in consolidated net profit at 3,820.16 crore for March quarter 2020-21. Income during the quarter under review increased to 49,116.16 crore, over 44,905.76 crore in the year-ago period.

17 May 2021, 10:48:46 AM IST

Gold bond opens for subscription, issue price at discount to market rates

The Sovereign Gold Bond Scheme 2021-22 Series-I or first tranche of gold bonds of this fiscal opened for subscription today. The issue will close on May 21. The government has fixed the issue price at 4,777 per gram of gold while investors who apply online and make the payment online will get a discount of 50 per gram

17 May 2021, 10:37:16 AM IST

Bharti Airtel down 1%

The telecom company will report its March quarter earnings on Monday. Meanwhile, Airtel has announced to offer a recharge pack of 49 for free to as many as 5.5 crore low-income customers to help them stay connected during the pandemic.

17 May 2021, 10:26:10 AM IST

Indian rupee rises 5 paise to 73.24 against US dollar in early trade

17 May 2021, 10:12:17 AM IST

Shilpa Medicare jumps 10%; ties up with Dr Reddy's for production of Sputnik V vaccine

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17 May 2021, 10:02:11 AM IST

Covid update: India reports daily cases below 3 lakh for first time in weeks

India reported 2,81,386 new covid-19 cases and 3,78,741 recoveries in the last 24 hours, the Union Health Ministry informed on Monday.

While new cases continued to decrease, 4,106 covid-related deaths were reported across the country. The death toll stands at 2,74,390.

The total positive cases in the country stands at 2,49,65,463, including 2,11,74,076 recoveries and 35,16,997 active cases.

17 May 2021, 09:52:51 AM IST

Nifty Financial Services up 1.5%

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17 May 2021, 09:41:15 AM IST

Among sectors, banks & financials shine; IT in red

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17 May 2021, 09:30:27 AM IST

Nifty above 14,750 at open; UPL top gainer, while Cipla, L&T, Airtel lag

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17 May 2021, 09:26:45 AM IST

Sensex at open: Up 250 points at around 49,000

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17 May 2021, 09:18:42 AM IST

Sensex, Nifty open higher

17 May 2021, 09:05:23 AM IST

Sensex nearly 250 points higher at pre-open

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17 May 2021, 09:02:23 AM IST

Markets in the green at pre-open

17 May 2021, 08:53:52 AM IST

Govt issues guidelines to set up health infra in rural areas

The Union health ministry on Sunday recommended building health infrastructure in peri-urban and rural areas to tackle rising cases of coronavirus infections in villages.

The health infrastructure planned for peri-urban, rural and tribal areas shall be aligned to the already mentioned 3-tier structure—Covid Care Centre to manage mild or asymptomatic cases, Dedicated Covid Health Centre to manage moderate cases and Dedicated Covid Hospital to manage severe cases.

17 May 2021, 08:47:28 AM IST

Why CEO changes are such a big deal in the FMCG sector

Shares of Godrej Consumer Products Ltd rose 21% in a single trading session last week. The company’s market capitalization increased by more than 15,000 crore. The reason for the steep rise in the stock was an announcement of a change in leadership.

But should a mere announcement of leadership change usher in so much euphoria? Is it another case of investors putting the cart before the horse? (Read here)

17 May 2021, 08:32:06 AM IST

Stocks to Watch: Adani Green, Bharti Airtel, Cipla, Hero Moto

Besides, Adani Green, Bharti Airtel, Cipla, and Hero Moto, stocks that will be in focus today are L&T, Wipro, PNB. Besides, Bharti Airtel, companies like Federal Bank, Gland Pharma, Mangalore Refinery and Sun Pharma Advanced will announced their March quarter earnings today.

17 May 2021, 08:27:04 AM IST

Indian shares may consolidate on Monday

Markets are likely to be consolidate on Monday while trends in SGX Nifty suggest a flat-to-green opening for Indian benchmark indices. On Friday, the BSE Sensex closed at 48,732.55, up 41.75 points and the Nifty settled at 14,677.80, down 18.70 points.

17 May 2021, 08:02:47 AM IST

Asian equities mixed

Asian share markets turned mixed on Monday as data on Chinese retail sales missed expectations though industrial output stayed solid, while more evidence of global inflation pressures helped gold to a three-month peak.

MSCI's broadest index of Asia-Pacific shares outside Japan eked out a rise of 0.2%. Japan's Nikkei lost 0.7%.

17 May 2021, 07:29:02 AM IST

Wall Street ends higher on Friday

US stocks rallied in a sharp rebound on Friday as investors set aside inflation worries and bought shares hammered by the week's volatility.

The Dow Jones Industrial Average climbed 1%, the S&P 500 jumped 1.5%, the most on any day since March 26, and the Nasdaq Composite leaped 2.3%, its biggest one-day rise in about two months.

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