The key barometers further continued trading with modest losses in afternoon trade. At 13:20 IST, the barometer index, the S&P BSE Sensex, fell 351.61 points or 0.67% at 51,971.72. The Nifty 50 index lost 124.60 points or 0.79% at 15,566.80.
ICICI Bank (down 1.41%), State Bank of India (down 3.34%) and HDFC (down 1.11%) were major drags.
The broader market outperformed the benchmarks. The S&P BSE Mid-Cap index skid 1.60%. The S&P BSE Small-Cap index slipped 1.63%.
Sellers outnumbered buyers. On the BSE, 823 shares rose and 2,303 shares fell. A total of 129 shares were unchanged.
Foreign portfolio investors (FPIs) sold shares worth Rs 879.73 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 45.24 crore in the Indian equity market on 17 June 2021, provisional data showed.
COVID-19 Update:
Total COVID-19 confirmed cases worldwide stood at 17,74,38,001 with 38,42,377 deaths. India reported 7,98,656 active cases of COVID-19 infection and 3,83,490 deaths while 2,85,80,647 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.
India, in the last 24 hours, reported 62,480 new coronavirus cases and 1,587 deaths. With this, the country's active caseload has dropped below the 8-lakh mark. Kerala, which had 12,469 cases, was the only state to report more than 10,000 infections.
Gainers & Losers:
Adani Ports & Special Economic Zones (APSEZ) (up 4.88%), Bajaj Auto (up 1.58%), Hindustan Unilever (HUL) (up 1.54%), Divi's Laboratories (up 0.81%) and Cipla (up 0.79%) were major gainers in Nifty 50 index.
JSW Steel (down 4.65%), UPL (down 4.48%), Tata Steel (down 3.95%), Coal India (down 3.71%) and ONGC (down 3.48%) were major losers in Nifty 50 index.
Earnings Impact:
Power Grid Corporation of India declined 3.21%. On a consolidated basis, the company's net profit rose 6.42% to Rs 3,526.23 crore on 3.57% increase in revenue from operations to Rs 10,510.23 crore in Q4 March 2021 over Q4 March 2020. The board has recommended a final dividend of Rs 3 per share for the FY 2020-21. It has also recommended issue of bonus shares in the ratio of 3:1 (one bonus share for every three existing equity share).
Healthcare Global Enterprises lost 3.35% after the company's consolidated net loss widened to Rs 113.76 crore in Q4 FY21 compared with net loss of Rs 50.44 crore in Q4 FY20. Net sales rose 10.2% to Rs 297.04 crore in Q4 FY21 from Rs 269.50 crore in Q4 FY20. Pre-tax loss was at Rs 104.35 crore in Q4 FY21 as against a pre-tax loss of Rs 41.68 crore in Q4 FY20. EBITDA grew 16% to Rs 43.80 crore in Q4 FY21 as against Rs 37.70 crore in Q4 FY20. EBITDA margin improved to 14.5% during the quarter compared with 13.9% during the corresponding quarter, last year.
Stock in Spotlight:
5Paisa Capital fell 1.93%. The company said that it has appointed Ankit Fitkariwala as the chief business officer and product head of the company. Fitkariwala would be responsible for handling product development and alternate investment products with 5paisa Capital.
Global Markets:
European shares fell across the board while most Asian stocks declined on Friday, 18 June 2021.
On the data front, May's U.K. retail sales fell 1.4% month on month, official statistics revealed Friday.
Meanwhile, the German Producer Price Index (PPI) rose 1.5% month on month in May. On an annual basis, the PPI was 7.2% against a projection of 6.4%.
The Bank of Japan on Friday announced its decision to hold steady on monetary policy as well as an extension of the duration of its pandemic relief program. For the time being, the Bank will closely monitor the impact of COVID-19 and will not hesitate to take additional easing measures if necessary, and also it expects short- and long-term policy interest rates to remain at their present or lower levels, the Japanese central bank said in its monetary policy statement.
In US, the Dow Jones Industrial Average fell for a second day as investors digested the Federal Reserve's latest policy update, in which it moved up its timeline for interest rate hikes and forecast higher inflation. A fresh bout of rotation from cyclical stocks pushed the tech-heavy Nasdaq gauge to another record.
The number of Americans applying for unemployment benefits rose last week for the first time since April despite widespread evidence that the economy and the job market are rebounding steadily from the pandemic recession.
The Labor Department said on Thursday that jobless claims rose 37,000 from the week before to 412,000.
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