The domestic equity barometers were trading with strong gains in morning trade. The Nifty traded above the 15,000 mark. Metal shares rose for the second day.
At 10:28 IST, the barometer index, the S&P BSE Sensex, was up 505.89 points or 1.02% to 50,086.62. The Nifty 50 index added 156.30 points or 1.05% to 15,079.45.
In broader market, the S&P BSE Mid-Cap index gained 1.45% while the S&P BSE Small-Cap index rose 1.15%.
The market breadth was strong. On the BSE, 1863 shares rose and 770 shares fell. A total of 149 shares were unchanged.
COVID-19 Update:
Total COVID-19 confirmed cases worldwide stood at 163,413,904 with 3,386,457 global deaths.
India reported 33,53,765 active cases of COVID-19 infection and 278,719 deaths, according to the data from the Ministry of Health and Family Welfare, Government of India.
The country recorded 2,63,533 fresh cases of coronavirus in last 24 hours taking the total tally of Covid-19 infections to 2,52,28,996, according to the Union health ministry data updated on Tuesday.
Meanwhile, the government has dropped plasma therapy from Covid treatment protocol. Covid National Task Force released new clinical guidelines for management of mild, moderate and severe Covid cases. Plasma therapy does not find a mention under the new guidelines. The decision came on the basis of recommendations of experts from AIIMS, ICMR-COVID-19 National Task Force, and Joint Monitoring Group of Union Health Ministry.
The plasma therapy, which includes transfusion of COVID-19 antibodies from the blood of a recovered patient to the one being treated, has not been found effective in reducing the progression to severe disease nor has a decrease in the fatality rate been observed.
Buzzing Index:
The Nifty Metal index rose 2.43% to 5,334.55, extending gains for second day. The index has added 4.78% in two sessions.
Hindustan Zinc (up 8.25%), Hindustan Copper (up 7.88%), Hindalco Industries (up 3.58%), Tata Steel (up 3.19%) and SAIL (up 3.10%) were the top index gainers while APL Apollo Tubes (down 0.43%) and Ratnamani Metals Tubes Ltd (down 0.25%) lagged behind.
Results Today:
Tata Motors was up 2.62% ahead of Q4 results today.
Aarti Industries (up 2.47%), Abbott India (down 0.15%), Astral (up 1.60%), Brigade Enterprises (up 1.89%), Canara Bank (up 0.55%), Chalet Hotels (up 2.19%), GlaxoSmithKline Pharmaceuticals (up 0.53%), Gujarat Alkalies & Chemicals (up 1.63%), Jyothy Labs (up 0.77%), Manappuram Finance (up 3%), Minda Corp (up 1.35%), PI Industries (up 1.31%) and Torrent Pharmaceuticals (down 1.31%) will also announce their quarterly earnings today.
Earnings Impact:
Gujarat Narmada Valley Fertilizers & Chemicals (GNFC) gained 2.04% to Rs 408.60 after the company reported a 29.4% rise in consolidated net profit to Rs 308.91 crore in Q4 FY21 as against Rs 238.77 crore in Q4 FY20. Net sales rose 29.1% to Rs 1733 crore in Q4 FY21 over Q4 FY20 aided by better realisation of industrial chemicals.
Wabco India tumbled 4.25% to Rs 6,437.75. The automotive parts manufacturer's standalone net profit rose 51.2% to Rs 47.63 crore on 75.9% surge in net sales to Rs 712.32 crore in Q4 March 2021 over Q4 March 2020.
Sun Pharma Advanced Research Company (SPARC) declined 2.14% to Rs 222.15. SPARC reported a net loss of Rs 56.72 crore in Q4 FY21, lower than net loss of Rs 99.54 crore in Q4 FY20. Net sales jumped 23.6% to Rs 28.06 crore in Q4 FY21 over Q4 FY20.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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