Equities Gain For Second Straight Day; Nifty Tops 14653 Levels

Indian equities continued to gain ground for the second straight day even as the fatalities and coronavirus positive cases continue to come above 3,00,000 mark on a daily basis. Broader markets in fact outperformed the headline indices with gains of over 1.4 percent.

At the close, Sensex ended higher by 557 points, while Nifty gained 168 points or 1.16 percent to top 14650 levels.

Sectorally, all of the Nifty indices traded in the green led by metal and PSB pack. Top Nifty gainers include stocks like Hindalco, Larsen, Tata Steel, Reliance and Divis Labs. Top laggards have however been HdfC Life, Sbi life Insurance, Maruti, Kotak Mahindra Bank among others.

Maruti Suzuki posted 10% YoY decline in net profit to Rs. 1166 crore, revenue however reported a growth of 32 percent in the quarter ended March of FY21. The fall in profits came owing to lower than expected operating performance as well as due to a sharp fall in other income.

Shares of JSPL hit 52-week high as the board approves divestment of Jindal Power.

Meanwhile, European indices at the time of writing this copy, traded mixed with French CAC up by a margin

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