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Domestic equity indices extended gains to fourth consecutive trading session on Monday. The Nifty ended near the 14,950 level. All sectoral indices on the NSE ended in the green.
As per the provisional closing data, the S&P BSE Sensex, rose 295.94 points or 0.6% to 49,502.50. The Nifty 50 index rallied 119.2 points or 0.8% at 14,942.65.
In the broader market, the S&P BSE Mid-Cap index added 0.97% while the S&P BSE Small-Cap index rose 0.94%.
The market breadth was strong. On the BSE, 2,079 shares rose and 1027 shares fell. A total of 224 shares were unchanged.
Coronavirus Update:
Total COVID-19 confirmed cases worldwide stood at 15,83,34,639 with 32,93,120 deaths. India reported 37,45,237 active cases of COVID-19 infection and 2,46,116 deaths while 1,86,71,222 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.
Total income during the quarter increased by 5.6% year-on-year (YoY) to Rs 4,834.01 crore.
Net Interest Income (NII) improved by 15% to Rs 1,960 crore in Q4 FY21 from Rs 1,700 crore in Q4 FY20. Net Interest Margin (NIM) rose to 5.09% as on 31 March 2021 from 4.61% as on 31 March 2020.
Pre-Provisioning Operating Profit (PPOP) declined by 18% to Rs 646 crore in the fourth quarter from Rs 787 crore in the same period last year.
The provision for Q4 FY21 was at Rs 603 crore as compared to Rs 679 crore for Q4 FY20. In Q4 FY21, the bank released Rs 324 crore from provisions made for one Telecom Account based on mark to market value of the instruments and made additional provisions of Rs 375 crore for COVID-19 which is carried forward to the next financial year for the unprecedented situation arising due to COVID-19 second wave in India.
Equity indices traded sideways with gains in morning trade. The Nifty held above the crucial 14,900 mark. Metal, pharma and PSU bank stocks advanced while IT stocks were under pressure.
At 10:27 IST, the barometer index, the S&P BSE Sensex, was up 330.15 points or 0.67% at 49,536.21. The Nifty 50 index was up 108.85 points or 0.73% at 14,932.95.
In broader market, the S&P BSE Mid-Cap index was up 0.74% while the S&P BSE Small-Cap index gained up 0.84%.
The market breadth was strong. On the BSE, 1845 shares rose and 878 shares fell. A total of 189 shares were unchanged.
COVID-19 Update:
Total COVID-19 confirmed cases worldwide stood at 157,954,082 with 3,288,812 global deaths.
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TUCSON, Ariz., May 7, 2021 /PRNewswire/ CBOA Financial, Inc. (OTCMKTS:CBOF) (the Company ), parent company of Commerce Bank of Arizona (the Bank or CBAZ ), announced that consolidated after tax net income for quarter ending March 31, 2021 increased 46% to $543,000, from $371,000 year-over-year.
Chris Webster, Bank President and Chief Executive Officer commented, Our year over year performance validates our current operating strategy; successful pursuit of quality loan opportunities combined with disciplined loan pricing. We also continue to steadily decrease the bank s nonperforming assets which is critical in the current environment. On top of this strong performance, our lending staff processed another $27 million of Paycheck Protection Program (PPP) loans, providing much needed support to Arizona businesses.