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Trendlyne Marketwatch
Trendlyne Marketwatch
29 Dec 2017

Upbeat trading today, as markets closed 0.62% higher.

Market breadth is balanced. Of the 2877 stocks traded today, 1488 showed gains, and 1193 showed losses.

Riding High:

Largecap and midcap gainers today include Reliance Communications Limited (36.40 17.57%), Jaiprakash Associates Limited (26.20 12.93%) and Reliance Power Limited (50.30 12.03%).

Downers:

Largecap and midcap losers today include Central Bank of India (73.00 -2.86%), AIA Engineering Limited (1538.00 -2.66%) and Alembic Pharmaceuticals Limited (528.50 -2.47%).

Movers and Shakers

37 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included Unitech Limited (9.79 19.98%), Jaiprakash Power Ventures Limited (9.52 19.90%) and Housing Development and Infrastructure Limited (65.45 10.74%).

Top high volume losers on BSE were Central Bank of India (73.00 -2.86%), AIA Engineering Limited (1538.00 -2.66%) and UCO Bank (29.50 -1.99%).

Swan Energy Limited (189.80 -0.55%) was trading at 33.1 times of weekly average. Power Grid Corporation of India Limited (199.85 0.43%) and Bharat Financial Inclusion Limited(SKS) (995.20 -0.08%) were trading with volumes 30.4 and 19.2 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

46 stocks overperformed with 52 week highs,

Stocks touching their year highs included - Axis Bank Limited (560.00 2.30%), Bombay Burmah Trading Corporation Limited (1699.95 4.77%) and Century Textiles & Industries Limited (1430.00 0.56%).

11 stocks climbed above their 200 day SMA including Castex Technologies Limited (7.38 20.00%) and Bhushan Steel Limited (70.10 7.27%). 4 stocks slipped below their 200 SMA including Vijaya Bank (68.60 -2.49%) and Alembic Pharmaceuticals Limited (528.50 -2.47%).

 
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The Baseline
29 Dec 2017
Ups and downs in tax collection has government breaching its fiscal target

The Comptroller General of Accounts has released data today indicating that the Indian government has breached its fiscal deficit target for the current year in the April-November period, with several months to go. The deficit is at 112% the budgeted gap for the year - compared to 85.8% of the cap at this time last year. Analysts are expecting the fiscal deficit this year to come to 3.5%-3.7% of GDP, compared to the target of 3.2%. Lower tax collections post GST and tax cuts has led to the money deficit.

The government has already said that it plans to borrow more money, upto Rs. 50,000 crores via the securities route, so no severe belt-tightening is as yet on the horizon. While government spending has jumped this year compared to the previous year, the move to GST has also upended tax revenue. December returns are seeing a massive 14% drop from the collections in August, the first month of tax collection and return filing under the new indirect system.  Weak implementation and additional tax cuts with an eye to state elections, have driven the lower revenues. 

 
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The Baseline
28 Dec 2017
High Volume Gainers: Companies in RBI's defaulters list, JP Associates, Amtek Auto, Bhushan Steel, see gains

RBI had ordered lenders to find a resolution for the 29 defaulters on the central bank's list by the end of the calendar year, now just three days away. The restructuring of JP Associates is expected to be completed soon according to media reports.  This may be one reason why JP Associates and related firms are seeing a significant rise in share price today. Amtek Auto and Bhushan Steel, also on the defauters list, are among the top gainers on high volumes as well. For the full high volume high gain screener, click here. 

 
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The Baseline
27 Dec 2017, 02:10PM
Volume Shockers today: Bajaj stocks see large movement, as markets rise