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The BSE Sensex bounced back in positive terrain while the NSE Nifty continued to trade with losses in afternoon trade. At 13:20 IST, the barometer index, the S&P BSE Sensex, rose 17.63 points or 0.04% at 48,708.43. The Nifty 50 index lost 13.75 points or 0.09% at 14,682.75. Asian Paints (up 9.04%), ITC (up 3.99%) and Reliance Industries (up 0.87%) supported the recovery. The broader markets slipped. The S&P BSE Mid-Cap index fell 0.63%. The S&P BSE Small-Cap index skid 0.74%. Sellers outnumbered buyers. On the BSE, 1,323 shares rose and 1,636 shares fell. A total of 171 shares were unchanged. Foreign portfolio investors (FPIs) sold shares worth Rs 1,260.59 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 704.36 crore in the Indian equity market on 12 May 2021, provisional data showed. COVID-19 Update: Total COVID-19 confirmed cases worldwide stood at 16,11,88,177 with 33,44,737 deaths. India reported 37,04,893 active cases of COVID-19 infection and 2,62,317 deaths while 2,00,79,599 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India. Economy: India's retail inflation as measured by the Consumer Price Index (CPI) slowed to 4.29% in the month of April from 5.52% in March, mainly due to easing food prices, government data showed on Wednesday. While industrial output as measured by the Index of Industrial Production (IIP) grew 22.4% in the month of March 2021 as compared to 16.7% in the year-ago period. Gainers & Losers: UPL (up 8.14%), ITC (up 3.99%), Nestle India (up 2.11%) and Britannia Industries (up 1.95%) were major gainers in Nifty 50 index. Hindalco Industries (down 4.18%), Coal India (down 3.42%), Grasim Industries (down 3.13%), Tata Motors (down 2.88%) and Wipro (down 2.63%) were major losers in Nifty 50 index. Nifty Result Today: Larsen & Toubro (L&T) (up 0.63%) will announce its quarterly result today. The construction arm of Larsen & Toubro (L&T) has secured large orders for its heavy civil infrastructure business in India. The business has secured an order from Chennai Metro Rail Corporation (CMRC) to construct nearly 12 km twin bored tunnels from Kellys station to Taramani Road Junction station. It also involves construction of diaphragm walls of station box and entry/exit structures of Chetpet Metro, Royapettah Govt. Hospital, Thiruvanmiyur Metro Stations and part diaphragm wall of Greenways Road Metro Station, including launching and retrieval shafts in these stations. The business has also secured another order from CMRC to construct approx 8 Km of elevated viaduct with 9 elevated metro stations starting from Power House to Porur Junction including other associated works. These projects are the first packages of Phase-II which have been awarded by CMRC. Stocks in Spotlight: Alembic Pharmaceuticals slipped 0.62%. The drug maker has received final approval from the US drug regulator for its abbreviated new drug application for lurasidone hydrochloride tablets, 20 mg, 40 mg, 60 mg, 80 mg and 120 mg. The approved Abbreviated New Drug Application (ANDA) is therapeutically equivalent to the reference listed drug product (RLD), Latuda tablets of Sunovion Pharmaceuticals Inc. The drug is indicated for monotherapy treatment of adult and pediatric patients (10 to 17 years) with major depressive episode associated with bipolar I disorder (bipolar depression). Lurasidone hydrochloride tablets are also indicated for adjunctive treatment with lithium or valproate in adult patients with major depressive episode associated with bipolar I disorder. Great Eastern Shipping Company (G E Shipping) fell 0.29%. The company took delivery of a 2013 built Japanese secondhand supramax bulk carrier Jag Rajiv of about 56,103 deadweight tonnage (dwt). The company had contracted to buy the vessel in Q4 FY21. Including this vessel, G E Shipping's current fleet stands at 47 vessels, comprising 33 tankers (9 crude carriers, 18 product tankers, 6 LPG carrier) and 14 dry bulk carriers with an average age of 11.98 years aggregating 3.72 million dwt. Global Markets: Shares in Europe and Asia advanced on Friday, 14 May 2021, following overnight gains in the US stock market. Wall Street ended sharply higher at the close of a broad rally on Thursday, bouncing back from three straight days of selling on upbeat labor market data. Powered by Capital Market - Live News
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