End-Session

Key equity indices ended with small gains after a volatile session on Tuesday. The Nifty closed just shy of the 14,700 mark. Gains were capped amid a spike in COVID-19 cases in the country. Metal and pharma stocks were in demand while banks shares extended losses.

The barometer index, the S&P BSE Sensex, advanced 42.07 points or 0.09% to 49,201.39. The Nifty 50 index added 45.70 points or 0.31% to 14,683.50. It hit an intraday low of 14,573.90 and an intraday high of 14,779.10.

Asian Paints (up 4.07%), Hindustan Unilever (up 1.44%) and HDFC (up 1.10%) supported the indices.

ICICI Bank (down 0.91%), HDFC Bank (down 0.56%) and Reliance Industries (down 0.46%) were major drags.

The broader market ended firm. The BSE Mid-Cap index rose 1% and the BSE Small-Cap index gained 0.84%.

The market breadth was positive. On the BSE, 1664 shares rose and 1217 shares fell. A total of 190 shares were unchanged.

COVID-19 Update:

Total COVID-19 confirmed cases worldwide stood at 13,18,28,728 with 28,61,100 deaths. India reported 7,88,223 active cases of COVID-19 infection and 1,65,547 deaths while 1,17,32,279 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.

India, on Monday, reported 96,982 fresh coronavirus cases and 446 related deaths. Of these, 47,288 cases were reported in Maharashtra. While cases in Chhattisgarh scaled a new high of 7,302, and the count in Karnataka crossed the 5,000-mark. The country's active case tally now stands at 7,88,223. While 164 people died in Maharashtra, 72 deceased in Punjab. Over 43 lakh people were also inoculated on Monday, pushing the vaccination count up to 8,31,10,926.

Meanwhile, the Delhi government has imposed a night curfew from 10 pm to 5 am till April 30 in the wake of rising cases. This comes a day after Maharashtra imposed full lockdown on weekends and fresh restrictions to last through April.

Economy:

RBI Governor Shaktikanta Das-led rate-setting panel Monetary Policy Committee (MPC) started its three-day deliberation on the next monetary policy on Monday. The Reserve Bank will announce the resolution of the MPC on Wednesday, 7 April 2021.

Numbers to Watch:

The yield on 10-year benchmark federal paper fell to 6.122% as compared with 6.123% at close in the previous trading session.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 73.42, compared with its close of 73.30 during the previous trading session.

MCX Gold futures for 4 June 2021 settlement rose 0.48% to Rs 45,566.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, fell 0.31% to 92.73.

In the commodities market, Brent crude for June 2021 settlement rose $1.04 at $63.19 a barrel. The contract fell $2.71, or 4.18% to settle at $62.15 a barrel in the previous trading session.

Foreign Markets:

European shares advanced on Tuesday as trading resumed after the Easter holiday. Most Asian indices rose on Tuesday, 6 April 2021. Markets in Hong Kong were closed today for a holiday.

China's services sector activity grew in March, according to a private sector survey released Tuesday. The Caixin/Markit services Purchasing Managers' Index for March came in at 54.3, as compared to February's reading of 51.5.

U.S. stocks rallied on Monday with the Dow and S&P 500 closing at record levels, as a round of strong economic data buoyed investor optimism for the economic reopening.

The Dow Jones Industrial Average rose 373.98 points to 33,527.19, a record closing high. The S&P 500 gained 1.4% to 4,077.91, also hitting a new record close. The tech-heavy Nasdaq Composite also climbed 1.7% to 13,705.59.

Treasury Secretary Janet Yellen on Monday pushed for a global minimum corporate tax in an effort to keep companies from relocating to find lower rates.

Meanwhile, a measure of U.S. services industry activity soared to a record high in March. The Institute for Supply Management's non-manufacturing activity index jumped to a reading of 63.7 last month. That was the highest in the survey's history and followed 55.3 in February.

Buzzing Segment:

The Nifty Pharma index rose 1.76% to 12,548.60. The index declined 0.37% yesterday.

Cadila Healthcare, Divis Laboratories, Biocon, Cipla, Sun Pharmaceutical Industries, Torrent Pharmaceuticals, Dr. Reddy's Laboratories, Lupin, Aurobindo Pharma and Alkem Laboratories rose by 0.83% to 4.43%.

Stocks in Spotlight:

Adani Ports & Special Economic Zone (APSEZ) surged 12.84%. The company handled cargo volume of 73 MMT (million metric tonnes) in Q4 FY21, registering a growth of 27% on Y-o-Y (year-on-year) basis. APSEZ handled cargo volume of 247 MMT in FY21, registering a growth of 11% on Y-o-Y basis.

Sobha spurted 16.05% after the company's total new sales jumped 47.69% to 13,37,707 square feet in Q4 FY21 over 9,05,710 sq ft. in Q4 FY20. Total sales value grew 54.35% to Rs 1,072 crore in Q4 FY21 as against Rs 694.50 crore in Q4 FY20. Sobha's share of sales value soared 57.91% to Rs 874.20 crore in Q4 FY21 compared with Rs 553.60 crore in Q4 FY20. Total average price realisation rose 4.51% to Rs 8,014 per sq ft. in Q4 FY21 over Rs 7,668 per sq ft. in Q4 FY20.

Bajaj Finance added 0.58% after the company's customer franchise as of 31 March 2021 stood at 48.6 million, up by 14.08% from 42.6 million as of 31 March 2020. The company acquired 2.3 million new customers in Q4 FY21 compared with 1.9 million in Q4 FY20. New loans booked during Q4 FY21 were 5.5 million as against 6 million in Q4 FY20.

Panacea Biotec hit an upper circuit of 20% at Rs 220.85 after the company announced cooperation with the Russian Direct Investment Fund (RDIF) to produce 100 million doses per year of Sputnik-V vaccine. Production of Sputnik-V at Panacea Biotec sites will help facilitate global supply of Sputnik V to international partners of RDIF. Sputnik-V, the world's first registered vaccine against the novel coronavirus infection, has been registered in 59 countries globally with total population of over 1.5 billion people.

IRCON International rose 1.85%. The company said that its board of directors approved and recommended the issuance of one bonus share for each share held as on the date of record date.

Avenue Supermarts shed 0.12%. The supermarket chain operator said its standalone revenue from operations in Q4 March 2021 stood at Rs 7,303.13 crore compared with Rs 6,193.53 crore in the same period last year, recording a growth of 17.91% Y-o-Y. As of 31 March 2021, the total number of stores stood at 234. During FY 2020-21, Avenue Supermarts opened 22 new stores and converted 2 stores into fulfilment centers for Avenue E-commerce.

Jindal Steel & Power (JSPL) added 1.66%. The steel maker reported a 34.4% jump in production to 2.07 million tonnes in Q4 March 2021 from 1.54 million tonne reported in Q4 March 2020. Sales for Q4 March 2021 grew by 37.4% to 1.91 million tonnes from 1.39 million tonnes in Q4 March 2020. Exports accounted for 27% of sales in Q4 March 2021 compared with 15% in Q4 March 2020.

Mahindra Logistics slipped 1.32%. The company announced that it has partnered with Flipkart as one of its key logistics partners to help fast track deployment of electric vehicles across its logistics fleet in the country. Flipkart committed to 100% electric mobility in its logistics fleet and will deploy more than 25,000 electric vehicles (EVs) by 2030. Mahindra Logistics will play a significant role in working with various OEMs and help Flipkart's sustainable transition to EVs.

RBL Bank advanced 2.76%. The bank's total deposits jumped 26% to Rs 73,123 crore as on 31 March 2021 as against Rs 57,812 crore as on 31 March 2020. Gross advances rose 2% to Rs 60,012 crore as on 31 March 2020 as against Rs 58,966 crore as on 31 March 2020. Current Account-Savings Account (CASA) soared 36% to Rs 23,264 crore in 31 March 2021 from Rs 17,116 crore in 31 March 2020. CASA ratio stood at 31.8% as on 31 March 2021 as against 29.6% as on 31 March 2020.

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