Domestic Markets closes with Strong Gains; Sensex climbs 364 points & Nifty settles at 15,885

The equity stock markets on Monday, August 2, 2021, gained more than half a per cent. Both equity indices appreciated amid positive global cues. The BSE Sensex climbed 363.79 points, or 0.69 per cent, to close at 52,950.63. The NSE Nifty 50 also surged 122.10 points, or 0.77 per cent, to settle at 15,885.15. The Nifty Bank index closed 125.65 points or 0.36 per cent higher at 34,710.

In the broader markets, both, the BSE MidCap and SmallCap indices hit record highs of 23,344.49 and 27,106.46, respectively earlier in the and ended more than 1 per cent higher at 23,331 and 27,072.

The market breadth was strong. On the BSE, 2,178 shares rose and 1,158 shares fell. On the Nifty 50 index at NSE, 37 shares rose and 13 shares fell. The top five gainers on the Nifty 50 index were Titan (up 3.58 per cent), Shree Cement (up 3.52 per cent), BPCL (up 3.05 per cent), Adani Ports (up 2.93 per cent) and Eicher Motors (up 2.89 per cent). The top five losers on the index were UPL (down 2.25 per cent), Tata Steel (down 1.49 per cent), Bajaj Finserv (down 0.62 per cent), Bajaj Finance (0.41 per cent) and Tech Mahindra (down 0.20 per cent).

COVID Update

Total COVID-19 confirmed cases worldwide stood at 19,83,35,925 with 42,24,492 deaths. India reported 4,13,718 active cases of COVID-19 infection and 4,24,773 deaths while 3,08,57,467 patients have been discharged, data showed.

Economy

Prime Minister Narendra Modi has launched e-RUPI, a cashless and contactless instrument for digital payment today. e-RUPI, a person and purpose-specific digital payment solution, is a QR code or SMS string-based e-Voucher, which is delivered to the mobile of the beneficiaries.

Gross GST revenue collected in July 2021 was at Rs 1,16,393 crore of which CGST was Rs 22,197 crore, SGST was Rs 28,541 crore, IGST was Rs 57,864 crore (including Rs 27,900 crore collected on import of goods) and cess was Rs 7,790 crore (including Rs 815 crore collected on import of goods). The above figure includes GST collection received from GSTR-3B returns filed between July 1, 2021, and July 31, 2021, as well as IGST and cess, collected from imports for the same period. With the easing of Covid restrictions, GST collection for July 2021 has again crossed Rs 1 lakh crore, which clearly indicates that the economy is recovering at a fast pace.

India's unemployment rate fell to a four-month low of 6.95 per cent in July 2021 [Urban (8.30 per cent) and Rural (6.34 per cent)] compared to 9.17 per cent in June 2021 [Urban (10.07 per cent) and Rural (8.75 per cent)]. Total COVID-19 confirmed cases worldwide were at 19,83,33,053 with 42,24,441 deaths.

German retail sales increased much more than expected in June following an easing of COVID-19 restrictions, supporting a consumer-driven recovery in the German economy. The Federal Statistics Office said retail sales rose 4.2 per cent on the month in real terms after an upwardly revised increase of 4.6 per cent in May. The June reading was more than double a forecast for a rise of 2.0 per cent.