Markets closed higher. Nifty 50 closed at 14941.80 (180.3, 1.2%) , BSE Sensex closed at 50296.89 (447.1, 0.9%) while the broader Nifty 500 closed at 12536.20 (167.9, 1.4%)
Market breadth is in the green. Of the 1710 stocks traded today, 1023 were in the positive territory and 617 were negative.
ICICI Prudential Mutual Fund trims its stake in the Great Eastern Shipping Company selling 1.5 lakh shares via a market sale.
The promoter of Asian Paints creates a pledge on 1.1 lakh shares worth Rs 26.1 crore. As of December 2020, 10.6% of the paints company's promoter holding was pledged.
Garden Reach Shipbuilders & Engineers, JSW Energy, Jai Corp, and ICRA are trading with volume six times the average weekly trading volume.
TVS Motor Company reports a 21% YoY jump in two-wheeler sales for February at 2.8 lakh units with domestic sales up by 15% and exports up by 35% YoY.
Shipping Corporation of India hits a 52-week high as the Department of Investment and Public Asset Management (DIPAM) states it has received multiple bids for the disinvestment of its 63.7% stake in the shipbuilder.
Eicher Motors report Royal Enfield sales for February at 69,659 units, a 10% rise on a YoY basis with exports rising by 94% to 4,545 units.
Nirmal Bang, in a report on the automobile space expects heavy commercial vehicles to recover in February due to demand from the infrastructure and mining sector.
Hero MotoCorp, the largest domestic two-wheelers maker, reports total sales for February at 5 lakh units, a marginal rise of 1.4% YoY, with scooter sales more than doubling to 41,744 units in the month.
Power Grid Corporation of India's board approves an interim dividend of Rs 4 per share to be paid on March 30.
Bharat Petroleum Corporation will sell its 61.6% stake in Numaligarh Refinery for Rs 9,878 crore as part of the privatization process.
Markets opened high. Nifty 50 was trading at 14882.50 (121.0, 0.8%) , BSE Sensex was trading at 50308.20 (458.4, 0.9%) while the broader Nifty 500 was trading at 12475.45 (107.2, 0.9%)
Market breadth is overwhelmingly positive. Of the 1602 stocks traded today, 1288 were in the positive territory and 266 were negative.
Riding High:
Largecap and midcap gainers today include JSW Energy Ltd. (86.20, 16.02%), Adani Power Ltd. (61.30, 9.96%) and Adani Total Gas Ltd. (574.30, 9.30%).
Downers:
Largecap and midcap losers today include Indian Overseas Bank (17.20, -3.37%), Union Bank of India (38.80, -3.12%) and Oil And Natural Gas Corporation Ltd. (113.50, -3.03%).
Volume Shockers
37 stocks in BSE 500 are trading on high volumes today.
Top high volume gainers on BSE included Shipping Corporation of India Ltd. (124.50, 20.00%), Symphony Ltd. (1446.40, 20.00%) and IOL Chemicals and Pharmaceuticals Ltd. (658.05, 19.99%).
Top high volume losers on BSE were Metropolis Healthcare Ltd. (1932.20, -1.41%), Thyrocare Technologies Ltd. (911.60, -0.99%) and Orient Refractories Ltd. (228.55, -0.52%).
JSW Energy Ltd. (86.20, 16.02%) was trading at 14.6 times of weekly average. Jai Corp Ltd. (105.50, 14.30%) and Garden Reach Shipbuilders & Engineers Ltd. (211.00, 5.82%) were trading with volumes 11.7 and 10.6 times weekly average respectively on BSE at the time of posting this article.
BSE 500: highs, lows and moving averages
78 stocks overperformed with 52 week highs,
Stocks touching their year highs included - 3M India Ltd. (25068.65, 3.81%), Adani Ports & Special Economic Zone Ltd. (720.50, 3.98%) and Aegis Logistics Ltd. (323.60, 0.43%).
12 stocks climbed above their 200 day SMA including IRB Infrastructure Developers Ltd. (112.75, 5.28%) and Himadri Speciality Chemical Ltd. (47.85, 4.82%). 1 stock slipped below their 200 SMA including Natco Pharma Ltd. (802.20, -2.26%).
