India’s Covid19 trajectory seems to be on the decline. In the past 24 hours, the country has reported 2.40 lakh new cases, along with 3,741 deaths. This has led the total case count in the country to 2.65cr, while the number of deaths has crossed 2.99 lakh, according to the data shared by the Union Ministry of Health and Family Welfare on Sunday. The active cases in the country stand at 28.05 lakh currently, while the total number of recovered cases stand at 2.34cr. Over the past few days, the country has been recording a steady decline in the number of daily cases, even as the daily number of COVID-19 tests are at a record high of 20 lakh for a few days. Amid cases of coronavirus variants, black fungus cases are also being reported from several states. The mucormycosis cases are on the rise, with the country reporting 8,848 cases of the black fungus, observed in those recovering from Covid19.
COVID-19 vaccination drive is underway for all adults across most parts of India. As India’s cumulative vaccination coverage crossed the 19-cr,10 states accounted for over 66% of the doses even as the daily positivity rate declined to 12.599%. According to the health ministry, in terms of vaccinations, Maharashtra tops the list with 10.6% doses which comes to 2,04,65,193, followed by 1,58,13,654 (8.24%) doses in Uttar Pradesh and 1,57,08,235 doses (8.19%) in Rajasthan. The remaining seven states are Gujarat (7.91%), West Bengal (6.74%), (6.15%), Madhya Pradesh (4.97%), (4.88%), Kerala (4.48%) and Andhra Pradesh (4.09%).
The fourth-quarter earnings season will come to an end this week. Eicher Motors, Sun Pharma, Mahindra & Mahindra, Grasim Industries, BPCL, Bank of Baroda, and Divis Laboratories will close out the results season. Apart from these, Barbeque-Nation Hospitality, India Cements, JK Paper, Alkem Laboratories, AstraZeneca Pharma, Bajaj Electricals, Emami, Berger Paints, Burger King India, Cummins India, Cadila Healthcare, IRB Infrastructure Developers, Metropolis Healthcare, Page Industries, Strides Pharma Science, UCO Bank, Wockhardt, Dilip Buildcon, Glenmark Pharmaceuticals, Indian Bank, Ipca Laboratories, REC, and Ujjivan Financial Services will also announce their numbers in the next few days.
FPIs net sellers
Overseas investors withdrew Rs4,444cr from Indian markets in May so far amid concerns over the second wave of the coronavirus pandemic and its possible impact on the Indian economy. As per depositories data, foreign portfolio investors (FPIs) took out ₹6,370 crore from equities but pumped in Rs1,926cr in the debt segment between May 1-21. In April, the total net outflow from the Indian capital markets stood at Rs9,435cr.
U.S. stocks ended mostly lower as concerns of inflation weighed in investors’ minds. Friday as inspite of weaker than expected retail sales for the month of April. The Dow Jones Industrial Average rose 123.69 points, or 0.36%, to 34,207.84, the S&P 500 lost 3.26 points, or 0.08%, to 4,155.86 and the Nasdaq Composite dropped 64.75 points, or 0.48%, to 13,470.99.
Rising US inflationary risks have spooked markets, and minutes on Wednesday from the last Federal Reserve meeting suggested some policymakers were ready to talk about reducing stimulus by tapering bond purchases. Strong economic data has put pressure on growth stocks, which are more likely to be impacted by potential interest hike.
Helping sentiment Friday was a gauge for U.S. manufacturing activity that surged to a record high this month. Data firm IHS Markit said its flash U.S. manufacturing PMI increased to 61.5 in the first half of this month. That was the highest reading since October 2009 and followed a final reading of 60.5 in April.