Markets rose in today's trading. Nifty 50 closed at 8653.55 (335.7, 4.0%) , BSE Sensex closed at 29946.77 (1411.0, 4.9%) while the broader Nifty 500 closed at 7002.40 (278.4, 4.1%)
Market breadth is ticking up strongly. Of the 1644 stocks traded today, 1147 were on the uptick, and 402 were down.
- Steel companies have been among the hardest hit by the coronavirus pandemic, with demand falling across countries and to remain significantly lower compared to past projections. JSW Steel is among the latest to announce production cuts.
- The FM announced relief measures across the spectrum - for farmers, self-help groups (women), migrant workers, as well as EPF relief for SMEs and organized sector workers.
- The Finance Minister has announced a press conference at 1 pm, and speculation is rife about a potential stimulus.
- The passage of a $2 trillion stimulus bill by the US Senate, which will now go to the House for signing on Friday, has boosted markets worldwide.
- Caplin Point Labs has been granted final approval from the USFDA for its Abbreviated New Drug Application (ANDA) Verapamil Hydrochloride injection USP. The product had US sales data of approximately US$28 million in a year.
- IndusInd Bank shares have jumped today, hitting the upper circuit. The stock has still lost 77% of its share price over the past year.
- Upbeat trading in the morning today, as Nifty 50 was trading at 8490.10 (172.3, 2.1%) , BSE Sensex was trading at 29219.74 (684.0, 2.4%) while the broader Nifty 500 was trading at 6871.80 (147.8, 2.2%)
Riding High:
Largecap and midcap gainers today include IndusInd Bank Ltd. (440.00, 46.03%), Bandhan Bank Ltd. (220.00, 42.16%) and Ashok Leyland Ltd. (44.15, 28.16%).
Downers:
Largecap and midcap losers today include L&T Technology Services Ltd. (1096.00, -5.55%), MphasiS Ltd. (689.00, -5.27%) and Future Retail Ltd. (91.25, -5.00%).
Crowd Puller Stocks
12 stocks in BSE 500 are trading on high volumes today.
Top high volume gainers on BSE included Piramal Enterprises Ltd. (816.00, 19.67%), The New India Assurance Company Ltd. (95.90, 16.24%) and Rallis India Ltd. (163.95, 6.50%).
Top high volume losers on BSE were Shankara Building Products Ltd. (230.20, -4.99%), Indiabulls Integrated Services Ltd. (49.70, -4.97%) and Minda Corporation Ltd. (59.70, -0.58%).
Max India Ltd. (62.50, 5.04%) was trading at 5.5 times of weekly average. Dewan Housing Finance Corporation Ltd. (9.00, -0.55%) and Gujarat Narmada Valley Fertilizers & Chemicals Ltd. (107.70, 5.33%) were trading with volumes 5.2 and 4.4 times weekly average respectively on BSE at the time of posting this article.
BSE 500: highs, lows and moving averages
43 stocks tanked below their 52 week lows.
Stocks making new 52 weeks lows included - Aegis Logistics Ltd. (127.10, 10.00%) and Ambuja Cements Ltd. (143.20, 2.76%).
17 stocks climbed above their 200 day SMA including Johnson Controls-Hitachi Air Conditioning India Ltd. (2199.00, 15.69%) and Relaxo Footwears Ltd. (580.00, 13.08%). 2 stocks slipped below their 200 SMA including FDC Ltd. (186.20, -5.02%) and MindTree Ltd. (837.00, 1.80%).
