The benchmark indices bounced back in positive terrain in afternoon trade, tracking firm global cues. At 13:20 IST, the barometer index, the S&P BSE Sensex, rose 74.95 points or 0.14% at 52,012.39. The Nifty 50 index gained 13.35 points or 0.09% at 15,596.15.
Housing Development Finance Corporation (HDFC) (up 1.18%), Bajaj Finance (up 1.78%) and State Bank of India (SBI) (up 1.74%) boosted the indices.
The broader market traded lower. The S&P BSE Mid-Cap index lost 0.11%. The S&P BSE Small-Cap index fell 0.28%.
Sellers outnumbered buyers. On the BSE, 1,211 shares rose and 1,812 shares fell. A total of 133 shares were unchanged.
Foreign portfolio investors (FPIs) bought shares worth Rs 2,412.39 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 179.78 crore in the Indian equity market on 31 May 2021, provisional data showed.
Read more about Benchmarks end almost flat; ONGC jumps 3.5% on Business Standard. The domestic equity benchmarks ended almost flat after a volatile session on Tuesday. While selling was wide spread, most IT and pharma stocks managed to end in the green. Adani Group stocks were in demand.
Office of Economic Adviser, Department for Promotion of Industry and Internal Trade released Index of Eight Core Industries (ICI) for the Month of April, 2021. The combined ICI stood at 126.7 in April 2021, which increased by 56.1% (provisional) as compared to the Index of April 2020. This high growth rate in April 2021 is largely due to low Index base in April 2020 consequent to the low industrial production across all sectors caused by nationwide lockdown imposed to contain spread of Covid-19 last year.
The month over month production of eight core industries, as captured by ICI, declined by 15.1% (P) in April 2021 compared to March 2021 (P) due to emergence of second wave of infectious COVID-19. Final growth rate of Index of Eight Core Industries for January 2021 is revised to 1.3% from its provisional level 0.1 %. The growth rate of ICI during April-March 2020-21 was (-) 6.5% (P) as compared to the corresponding period of last FY.
The Office of the Economic Adviser, Department for Promotion of Industry and Internal Trade released Index of Eight Core Industries for the Month of March, 2021. The combined Index of Eight Core Industries stood at 143.1 in March, 2021, which increased by 6.8% (provisional) as compared to the Index of March, 2020. However, its cumulative growth during April to March, 2020-21 has been (-) 7.0%. Final growth rate of Index of Eight Core Industries for December 2020 is revised to 0.4% from its provisional level (-) 1.3%.
The summary of the Index of Eight Core Industries:
Coal - Coal production (weight: 10.33 per cent) declined by 21.9 per cent in March, 2021 over March, 2020. Its cumulative index declined by 4.8 per cent during April to March, 2020-21 over corresponding period of the previous year.
The main equity indices traded with modest gains in morning trade amid positive global cues. The Nifty traded above the 14,750 level. All the sectoral indices on the NSE were in the green. Metal stocks extended rally for the fifth session.
At 10:25 IST, the barometer index, the S&P BSE Sensex, was up 233.81 points or 0.47% at 49,742.51. The Nifty 50 index added 73.15 points or 0.5% at 14,763.25.
In broader market, the S&P BSE Mid-Cap index gained 0.83% while the S&P BSE Small-Cap index added 1.54%.
The market breadth was strong. On the BSE, 1840 shares rose and 521 shares fell. A total of 111 shares were unchanged.
The buying was supported by positive cues from other Asian stock markets, supported by surveys showing higher production across Asia s factories last month, and the the U. S. government s $2 trillion spending plan.