Markets rose in today's trade. Nifty 50 closed at 15,688.90 (112.7, 0.7%) , BSE Sensex closed at 52,232.43 (383.0, 0.7%) while the broader Nifty 500 closed at 13,379.15 (104.9, 0.8%)
Market breadth is highly positive. Of the 1757 stocks traded today, 1213 showed gains, and 514 showed losses.
Crisil, Tasty Bite Eatables, Abbott India, and Schaeffler India are trading with higher delivery volumes compared to Wednesday.
Ratnamani Metals & Tubestrades higher following a domestic order win worth Rs 81.8 crore for carbon steel pipes from the oil and gas sector.
MTAR Technologies trades higher as its Q4 revenue rises 7.7% YoY to Rs 69.8 crore and net profit nearly doubles to Rs 18 crore.
General Insurance Corporation of India, APL Apollo Tubes, and Gujarat State Petronet are trading higher ahead of their Q4 earnings update later today.
Asahi India Glass is trading with 15 times the weekly average trading volume. Mazagon Dock Shipbuilders and Crisil are trading in the green with more than six times their average weekly trading volume.
ICICI Securities upgrades its rating on Shoppers Stop to ‘Buy’ from ’Hold’ with a target price upside of 16.6%, citing a stable liquidity position and increase in revenues of private labels.
Rossari Biotech trades higher following the acquisition of Unitop Chemicals, a manufacturer of surfactants and specialty chemicals for Rs 421 crore.
Axis Securities maintains a ‘Buy’ rating on Dixon Technologies with a target price upside of 10%, citing growth in LED lighting and consumer electronics segments due to extension of PLI scheme.
Wipro sells its 33.3% stake in cyber security company Denim Group for $22.4 million (Rs 160 crore), and acquires a minority stake of less than 20% in Squadcast, an IT Services company, for $1.2 million (Rs 8.7 crore).
Spandana Sphoorty Financial is rising and trading with 16 times the weekly average trading volume.
Ashish Kacholia reduces his stake in Paushak by 0.1%, selling 17,461 shares for Rs 12.9 crore on Wednesday. He now holds 1.3% of the company worth Rs 29.5 Crore.
Snowman Logistics is rising as it will provide cold-storage transport solutions to Dr. Reddy's Laboratories for the delivery of the Sputnik V Covid-19 vaccine.
PVR’s Q4FY21 net loss rises four-fold YoY to Rs 289 crore and revenues fall by 60% to Rs 263 crore.
Upbeat trading today, as Nifty 50 was trading at 15,670.95 (94.8, 0.6%) , BSE Sensex was trading at 52,206.74 (357.3, 0.7%) while the broader Nifty 500 was trading at 13,361.20 (87.0, 0.7%)
Market breadth is overwhelmingly positive. Of the 1655 stocks traded today, 1329 showed gains, and 291 showed losses.
Riding High:
Largecap and midcap gainers today include Motherson Sumi Systems Ltd. (269.10, 13.40%), Adani Total Gas Ltd. (1584.60, 10.00%) and Adani Enterprises Ltd. (1553.65, 9.70%).
Downers:
Largecap and midcap losers today include ITC Ltd. (209.00, -2.90%), Aarti Industries Ltd. (1670.00, -2.38%) and Relaxo Footwears Ltd. (1061.85, -2.35%).
Volume Shockers
26 stocks in BSE 500 are trading on high volumes today.
Top high volume gainers on BSE included Sumitomo Chemical India Ltd. (365.80, 14.51%), Motherson Sumi Systems Ltd. (269.10, 13.40%) and IRB Infrastructure Developers Ltd. (130.75, 12.67%).
Top high volume loser on BSE was Responsive Industries Ltd. (148.00, -5.13%).
Nilkamal Ltd. (2470.00, 11.46%) was trading at 18.1 times of weekly average. Heritage Foods Ltd. (371.30, 5.99%) and Gujarat Gas Ltd. (566.55, 4.84%) were trading with volumes 10.5 and 8.8 times weekly average respectively on BSE at the time of posting this article.
BSE 500: highs, lows and moving averages
31 stocks overperformed with 52 week highs,
Stocks touching their year highs included - Aegis Logistics Ltd. (374.90, 5.35%), Avanti Feeds Ltd. (607.90, 0.74%) and Bharat Forge Ltd. (699.35, 4.91%).
9 stocks climbed above their 200 day SMA including EPL Ltd. (249.35, 3.64%) and Gulf Oil Lubricants India Ltd. (703.00, 2.73%). 2 stocks slipped below their 200 SMA including Responsive Industries Ltd. (148.00, -5.13%) and PVR Ltd. (1323.05, 1.20%).
