Benchmarks came off the day's low and traded with tiny losses in mid-morning trade. The Nifty firmly traded above the 15,700 mark. Traders booked profits after indices hit record high level in early trade.
At 11:23 IST, the barometer index, the S&P BSE Sensex, was down 52.64 points or 0.1% at 52,275.06. The Nifty 50 index was down 22.34 points or 0.14% at 15,729.90. The Nifty hit record high of 15,778.80 in early trade.
In broader market, the S&P BSE Mid-Cap index was up 0.15% while the S&P BSE Small-Cap index gained 0.52%.
The market breadth once again turned positive. On the BSE, 1,579 shares rose and 1417 shares fell. A total of 122 shares were unchanged.
COVID-19 Update:
Total COVID-19 confirmed cases worldwide stood at 173,541,613 with 3,734,768 global deaths.
India reported 13,03,702 active cases of COVID-19 infection and 351,309 deaths, according to the data from the Ministry of Health and Family Welfare, Government of India.
Prime Minister Narendra Modi on Monday announced that the Government of India will provide free vaccines to states for all people above 18 years, starting 21st June. Modi said no state government of the country will have to spend anything on the vaccine and the Government of India will provide free vaccines to all the countrymen. The government has decided that 25% of the vaccine responsibilities that were looked after by the state governments, will now be looked after by the Centre.
Modi said though the government will provide free vaccines to all the countrymen, those who want to pay for the same can get vaccinated at private hospitals. He said, 25% of vaccines can be purchased by the private hospitals.
He added that private hospitals will be able to charge a maximum service charge of Rs 150 for a single dose after the fixed price of the vaccine.
Modi said seven companies are working on developing vaccines and three trials are underway. He said research is also underway on nasal vaccines.
The Prime Minister informed that Pradhan Mantri Garib Kalyan Anna Yojana has been extended till Diwali. He said, in this time of pandemic, the government is standing with the poor. Modi said free food grains will be available in fixed quantity every month to more than 80 crore countrymen till November.
Buzzing Index:
The Nifty Metal index slipped 1.57% to 5,232.25, slipping for second trading session. The metal index has lost 2% in two days.
Hindalco Industries (down 2.67%), National Aluminium Company (down 2.16%), Tata Steel (down 2.01%), JSW Steel (down 1.82%) and Jindal Steel & Power (down 1.38%) were the top losers. Among the other losers were Vedanta (down 1.19%), NMDC (down 1.04%), Coal India (down 0.96%), Hindustan Zinc (down 0.94%) and Steel Authority of India (down 0.89%) declined.
Earnings Impact:
Mrs Bectors Food Specialities rose 2.34% to Rs 442.05 after the company's consolidated net profit surged 40.99% to Rs 12.76 crore on 15.26% rise in revenue from operations to Rs 223.98 crore in Q4 March 2021 over Q4 March 2020. Profit before tax soared 43.68% to Rs 17.30 crore in Q4 FY21 as against Rs 12.04 crore in Q4 FY20. The board has recommended a final dividend of Rs 2.40 per equity share for the FY 2020-2021.
Seamec fell 2.39% to Rs 461.35 after the company's consolidated net profit skid 21.89% to Rs 17.77 crore on 0.68% rise in revenue from operations to Rs 96.87 crore in Q4 March 2021 over Q4 March 2020. Profit before tax dropped 25.41% to Rs 18.69 crore in Q4 FY21 as against Rs 25.06 crore in Q4 FY20.
Global Markets:
Asian markets were trading lower on Tuesday, as investors reacted to the release of Japan's revised first-quarter gross domestic product figures.
Revised government data released Tuesday showed Japan's economy shrank 3.9% in the first quarter, an improvement from the initial estimate of a 5.1% contraction.
US stocks clawed back much of their early losses and ended mixed on Monday. Investors are focused on inflation data in the week ahead, with May's Consumer Price Index (CPI) scheduled to be released Thursday.
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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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