Domestic markets closed at new highs; Sensex ends at a new peak of 52,232 & Nifty 50 at 15,690

Domestic equity benchmarks ended with strong gains on Thursday, May 3, 2021. The S&P BSE Sensex advanced 382.95 points or 0.74 per cent to end at a fresh closing peak at 52,232.43. The Nifty 50 index gained 114.15 points or 0.73 per cent higher at 15,690.35. The Nifty Bank index rose 275.25 points or 0.78 per cent to end higher at 35,649.

The broader markets, meanwhile, outperformed the Sensex. The BSE MidCap and SamllCap indices ended 1.4 per cent higher each.

The market breadth favoured the buyers. On the BSE, 2190 shares rose and 979 shares fell. On the Nifty 50 index on NSE, 35 stocks advanced and 14 shares declined, while one stock remained unchanged. The top five gainers on the Nifty were Titan (up 6.83 per cent), ONGC (up 5.01 per cent), Eicher Motors (up 3.37 per cent), Larsen & Turbo (up 2.78 per cent) and Axis Bank (up 2.07 per cent). The top five losers were IndusInd Bank (down 2.15 per cent), Wipro (down 0.74 per cent), Dr Reddy's Laboratories (down 0.61 per cent), Tata Steel (down 0.58 per cent) and Bajaj Auto (down 0,56 per cent).

COVID-19 Update

Total COVID-19 confirmed cases worldwide were at 17,16,80,288 with 36,91,773 deaths. India reported 17,13,413 active cases of COVID-19 infection and 3,37,989 deaths while 2,63,90,584 patients have been discharged, data showed.

India's IHS Markit India Services PMI

IHS Markit India Services PMI was at 46.4 in May 2021, down from 54.0 in April 2021. The figure contracted for the first time in eight months. India's merchandise exports in the last month recorded a steep rise of over 67 per cent compared to the corresponding period last year.

Merchandise imports in the first two months of the current financial year were at 5.41 per cent less than that of the corresponding period in 2019.

Chinese services activity growth

A private survey released Thursday showed slowing Chinese services activity growth in May. China's Caixin/Markit services Purchasing Managers' Index for May came in at 55.1 on Thursday, lower than the reading of 56.3 in April.

Beige Book report

The US Federal Reserve published its "Beige Book" report, which pointed to labour shortages and inflation pressures. Philadelphia Fed President Patrick Harker said it's appropriate to slowly, carefully move back on bond purchases at the appropriate time.