Read more about Nifty slips below 15,000 mark on Business Standard. The key equity barometers were trading with minor cuts in mid-morning trade. The Nifty failed to hold above the 15,000 mark. Metal shares declined for the second consecutive session.
Read more about Indices trade in range; breadth remains positive on Business Standard. Key barometers were trading in a narrow range with small losses in afternoon trade. At 13:20 IST, the barometer index, the S&P BSE Sensex, declined 64.45 points or 0.13% at 49,838.19. The Nifty 50 index lost 45 points or 0.30% at 14,985.15.
Sequential growth slackening driven by the second wave of Covid-19 in India has emerged as a concern, ratings agency ICRA said.
ICRA also cautioned that bruised sentiment, high healthcare and fuel expenses will limit discretionary purchases in the immediate term. Furthermore, the agency expects a cut-back in spending on contact-intensive services. As expected, the shrunken base of the nationwide lockdown in April 2020 has boosted the pace of year-on-year (YoY) expansion of several high-frequency indicators in April 2021, resulting in a widespread improvement compared to the performance in March 2021, ICRA Chief Economist Aditi Nayar said. However, the optimism generated by this trend is limited, as eight of the 13 non-financial indicators in April 2021 remained below their pre-Covid levels.
Colgate-Palmolive (India) rose 2.76% to Rs 1610.40 after the FMCG company s net profit jumped by 54.1% to Rs 314.66 crore in Q4 FY21 as against Rs 204.15 crore in Q4 FY20.The company s revenue from operations increased 20% year on year to Rs 1275.01 crore in Q4 FY21 compared with Rs 1062.35 crore in Q4 FY20.
The company s domestic net sales for the quarter reported a strong momentum of 20.2% growth. Profit before tax grew by 62.7% to Rs 381.36 in Q4 FY21 as against Rs 234.36 crore in Q4 FY20.
The oral hygiene product maker s net profit surged by 26.8% to Rs 1035.39 crore for the year ended March 2021 (FY21) from Rs 816.47 crore posted in the year ended March 2020 (FY20). Revenue from operations rose 7.2% to Rs 4,810.48 crore in FY21 over FY20.
The Australian share market rose for the first time in four sessions Friday, 14 May 2021, with investors stepping up bargain buying following an overnight Wall Street rally. At closing bell, the benchmark S&P/ASX200 advanced 31.52 points, or 0.45%, to 7,014.24. The broader All Ordinaries added 30.35 points, or 0.42%, to 7,239.37.
Energy stocks rose as oil prices dropped amid concerns about demand from India and as the hacked Colonial Pipeline in the U. S. restarted.
Sector heavyweight Whitehaven Coal jumped 8.8%, followed by Washington H Soul Pattinson and Company, gaining 2.3%.
Australia s heavyweight financials ended higher, with top lender Commonwealth Bank of Australia hitting a record high. Westpac, Australia and New Zealand Banking Group and National Australia Bank ended up between 0.9% and 1%.