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Domestic Stocks Markets closed with decent gains; Sensex rose 0.75% & Nifty surged 112 points
Domestic Stocks Markets closed with decent gains; Sensex rose 0.75% & Nifty surged 112 points
The main indices ended at the day's high with decent gains on Monday, July 5, 2021.
The main indices ended at the day's high with decent gains on Monday, July 5, 2021. The S&P BSE Sensex rallied 395.33 points or 0.75 per cent to settle at 52,880. The Nifty 50 index gained 112.15 points or 0.71 per cent to close at 15,834.35. The Nifty Bank index surged 402.10 points or 1.16 per cent to end at 35,212.
In the broader market, S&P BSE MidCap gained 0.35 per cent while S&P BSE SmallCap rose 0.78 per cent.
Buyers outpaced sellers. On the BSE, 2,225 shares rose and 1,114 shares fell. On the Nifty 50 index on the NSE, 36 shares advanced and 14 shares declined. The top five gainers on Nifty 50 includes Hindalco (up 3.80 per cent), ONGC (up 2.36 per cent), State Bank of India (up 2.19 per cent), Tata Steel (up 1.98 per cent) and Coal India (up 1.93 per cent). The top five losers were Tech Mahindra (down 1.58 per cent), HDFC Life (down 1.40 per cent), BPCL (down 0.64 per cent), Dr Reddy's (down 0.62 per cent) and HCL Technologies (down 0.32 per cent).
COVID-19 Update
Total COVID-19 confirmed cases worldwide were at 18,37,88,043 with 39,77,121 deaths. India reported 4,82,071 active cases of COVID-19 infection and 4,02,728 deaths while 2,97,00,430 patients have been discharged, data showed.
India Services PMI
The seasonally adjusted India Services Business Activity Index (India Services PMI) was at 41.2 in June 2021, highlighting a further contraction in output. Moreover, falling from 46.4 in May 2021, the latest reading pointed to the fastest rate of reduction since July 2020. Monitored companies commonly indicated that the intensification of the COVID-19 crisis and tight restrictions curbed demand for services. Subdued demand conditions resulted in a second successive monthly drop in new business received by services firms.
The pace of contraction was sharp and the quickest since July 2020. India's merchandise exports in June 2021 was at $32.46 billion, up 47.34 per cent over $22.03 billion in June 2020 and an increase of 29.7 per cent over $25.03 billion in June 2019.
Merchandise imports in June 2021 were $41.86 billion, up 96.33 per cent over $21.32 billion in June 2020 and an increase of 2.03 per cent over $41.03 billion in June 2019.
China's services sector activity
A private survey on China's services sector activity in June showed growth slowing sharply in June to a 14-month low. The Caixin/Markit services PMI for June came in at 50.3, a significant decline from May's reading of 55.1.
