Equity Markets closes with small gains; Sensex rose 152 points & Nifty closes at 16,280 level

Domestic equity barometers ended the volatile session with small gains on Tuesday, August 10, 2021. The S&P BSE Sensex added 151.81 points or 0.28 per cent to 54,554.66. The Nifty 50 index advanced 21.85 points or 0.13 per cent to 16,280.10. The Nifty Bank index grew marginally by 5.15 points or 0.01 per cent and settled at 36,034.10.

Meanwhile, the broader markets underperformed the markets with S&P BSE MidCap dropping 0.85 per cent and S&P BSE SmallCap falling 2.05 per cent.

Sellers outnumbered buyers. On the BSE, 771 shares rose and 2488 shares fell. On the Nifty 50 index at the NSE, 20 shares rose, 29 shares fell and one share remains unchanged. The top five gainers on Nifty 50 were Bharti Airtel (up 3.78 per cent), Tech Mahindra (up 2.76 per cent), HDFC (up 1.80 per cent), Kotak Bank (up 1.63 per cent) and M&M (up 1.38 per cent). The top five losers were Shree Cement (down 4.05 per cent), JSW Steel (down 3.59 per cent), Tata Steel (down 2.84 per cent), Hindalco (down 2.22 per cent) and Power Grid (down 2.07 per cent).

COVID-19 Update

Total COVID-19 confirmed cases worldwide were at 20,33,91,279 with 43,03,090 deaths. India reported 3,88,508 active cases of COVID-19 infection and 4,28,682 deaths while 3,11,80,968 patients have been discharged, data showed.

Economy

Two Federal Reserve officials said on Monday that the US economy is growing rapidly and that while the labour market still has room for improvement, inflation is already at a level that could satisfy one leg of a key test for the beginning of interest rate hikes.

The Philippine economy grew at its fastest annual pace in over three decades in the second quarter, rebounding from a Covid-induced slump a year ago, but tighter curbs are clouding the outlook, reinforcing an accommodative monetary stance. GDP rose 11.8 per cent in the June quarter.