India Reports 42,640 New COVID-19 Cases, 1,167 Deaths
India reported on Tuesday 42,640 new COVID-19 infections over the past 24 hours, data from the health ministry showed.
The South Asian country s total COVID-19 case load now stands at 29.98 million, while total fatalities are at 389,302, the data showed. India s coronavirus-related deaths rose by 1,167 overnight.
A record daily surge in COVID-19 vaccinations powered India’s benchmark stock index on Tuesday past the 53,000-level for the first time ever, with the blue-chip Nifty 50 also hovering close to its all-time high.
The S&P BSE Sensex was up 0.82% at 53,013.20 by 0509 GMT, while the NSE Nifty 50 index (.NSEI) rose 0.87% to 15,883.95.
Domestic shares end lower on financials drag, profit taking
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In a week where the trading range stayed narrower than the previous week, Indian equities saw a corrective decline. This was also a truncated week with just four trading sessions, and saw the headline index oscillate in a 375-point range.
While the trading range remained narrow, intraday volatility and ranged oscillations remained high. Nifty remained in the falling channel that it has formed, but refused to take any directional cue through the week.
In a volatile trading week, the benchmark index finally ended with a net loss of 276 points, or 1.89 per cent, on a weekly basis.
Despite having a narrow trading range, Nifty’s most recent move was a bit technically damaging on the weekly charts. In the previous weekly note, we had mentioned that Nifty had violated the rising trendline pattern support, but managed to bounce off that trendline. This trendline is a major pattern support, drawn from the lows made in March 2020, which joins the subsequent higher bottoms until today.
Motherson Sumi Systems Ltd is quoting at Rs 224, up 1.06% on the day as on 12:49 IST on the NSE. The stock is up 263.64% in last one year as compared to a 75.1% jump in NIFTY and a 85.93% jump in the Nifty Auto index.
Motherson Sumi Systems Ltd gained for a third straight session today. The stock is quoting at Rs 224, up 1.06% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is down around 0.55% on the day, quoting at 14828.85. The Sensex is at 50155.78, down 0.41%. Motherson Sumi Systems Ltd has gained around 1.5% in last one month.
Meanwhile, Nifty Auto index of which Motherson Sumi Systems Ltd is a constituent, has gained around 5.26% in last one month and is currently quoting at 10350.8, down 0.91% on the day. The volume in the stock stood at 70.05 lakh shares today, compared to the daily average of 184.87 lakh shares in last one month.
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