Markets recovered from the day's low but closed lower today. Nifty 50 closed at 12007.70 (-38.1, -0.3%) , BSE Sensex closed at 40894.38 (-161.3, -0.4%) while the broader Nifty 500 closed at 9856.65 (-34.4, -0.4%). Market breadth is moving down. Of the 1652 stocks traded today, 510 were on the uptick, and 1044 were down.
- Rakesh Jhunjhunwala backed Barbeque Nation Hospitality (BHNL) has refiled a fresh draft of its red herring prospectus (DRHP) with Sebi for its initial public offer (IPO). The issue size is expected to be around Rs 1,000-1,200 crore.
- Huhtamaki PPL is sharply up today after strong Q3 results, showing 9.8% revenue growth YoY, and 279%+ net profit growth.
- Fresh share pledges created today by promoters of Max Financial Services.
- IRDAI Chairman said today that while the agency will not make it mandatory to do a public listing, it will encourage insurance firms above a certain size to list on stock exchanges.
- Vodafone Idea continues to fall today on concerns on its ability to meet its debt payments.
- New Earnings Call Transcripts available include Balkrishna Industries, Astral Poly, Wonderla and Dr Lal PathLabs.
- Gloom in markets in early trading. Nifty 50 was trading at 11976.55 (-69.3, -0.6%) , BSE Sensex was trading at 40803.87 (-251.8, -0.6%) while the broader Nifty 500 was trading at 9830.90 (-60.1, -0.6%). Market breadth is sharply down. Of the 1410 stocks traded today, 341 were on the uptick, and 980 were down.
Riding High:
Largecap and midcap gainers today include Abbott India Ltd. (15632.00, 6.70%), Edelweiss Financial Services Ltd. (89.60, 5.23%) and Whirlpool of India Ltd. (2295.00, 4.24%).
Downers:
Largecap and midcap losers today include Bharti Infratel Ltd. (208.40, -11.32%), Vodafone Idea Ltd. (3.05, -10.29%) and Union Bank of India (43.30, -7.38%).
Crowd Puller Stocks
22 stocks in BSE 500 are trading on high volumes today.
Top high volume gainers on BSE included Hathway Cable & Datacom Ltd. (23.10, 20.00%), TV18 Broadcast Ltd. (28.75, 14.77%) and La Opala RG Ltd. (213.25, 10.35%).
Top high volume losers on BSE were Bharti Infratel Ltd. (208.40, -11.32%), Sundram Fasteners Ltd. (447.70, -2.46%) and Finolex Cables Ltd. (362.90, -2.18%).
Solar Industries India Ltd. (1200.00, 3.00%) was trading at 18.1 times of weekly average. JSW Energy Ltd. (65.75, 4.12%) and VST Industries Ltd. (4321.05, -0.33%) were trading with volumes 12.8 and 6.3 times weekly average respectively on BSE at the time of posting this article.
BSE 500: highs, lows and moving averages
17 stocks overperformed with 52 week highs, while 39 stocks hit their 52 week lows.
Stocks touching their year highs included - Abbott India Ltd. (15632.00, 6.70%), Aegis Logistics Ltd. (256.00, 1.25%) and Apollo Hospitals Enterprise Ltd. (1775.00, 3.50%).
Stocks making new 52 weeks lows included - Allahabad Bank (14.00, -4.44%) and Andhra Bank (14.85, -1.98%).
7 stocks climbed above their 200 day SMA including Hathway Cable & Datacom Ltd. (23.10, 20.00%) and Meghmani Organics Ltd. (58.00, 4.04%). 28 stocks slipped below their 200 SMA including NMDC Ltd. (99.80, -6.07%) and BEML Ltd. (872.00, -5.24%).
