The market closed on an upbeat note. Nifty 50 closed at 15240.50 (321.4, 2.2%) , BSE Sensex closed at 51444.65 (1147.8, 2.3%) while the broader Nifty 500 closed at 12761.05 (241.7, 1.9%)
Market breadth is in the green. Of the 1713 stocks traded today, 1045 were gainers and 609 were losers.
MTAR Technologies' Rs 600 crore IPO subscribed 2.2 times with the retail portion booked 3.1 times on day 1 of the bidding process.
Shoppers Stop is trading with 25 times the average weekly volume. The retail company's stock is up by 18% in two weeks reaching a 10-month high.
ICICI Securities in a report on the automobile space expects commercial vehicles to recover in the coming months with passenger vehicle (PV) and tractor sales to sustain as well.
The promoter group of FMCG company Emami creates a pledge on 2.8 lakh shares worth Rs 12.9 crore. As of December 2020, 39% of promoter holding was pledged.
The central government will sell 7.5 crore shares of Railway PSU Ircon International divesting its 16% stake for Rs 88 per share. The stock is down by 14% in two weeks.
Tata Motors reports a 54% YoY growth in domestic sales at 58,473 units in February 2021. The passenger vehicle (PV) segment's sales rose 119% YoY to 27,225 units, the highest monthly sales in nine years.
Ashish Kacholia decreases his stake in Acrysil by 2% selling 5.3 lakh shares. He now holds a 3.7% stake in the company.
Yes Bank's shareholders approve a proposal to raise Rs 10,000 crore through the issuance of equity shares on a QIP basis.
Rakesh Jhunjhunwala sells 1.5 lakh shares in Ion Exchange via a bulk deal, decreasing his stake in the water supply company by 1.06%.
The market opened on an upbeat note. Nifty 50 was trading at 15030.85 (111.8, 0.8%) , BSE Sensex was trading at 50638.39 (341.5, 0.7%) while the broader Nifty 500 was trading at 12622.55 (103.2, 0.8%)
Market breadth is overwhelmingly positive. Of the 1596 stocks traded today, 1198 were gainers and 330 were losers.
Riding High:
Largecap and midcap gainers today include Adani Total Gas Ltd. (662.75, 15.40%), IDBI Bank Ltd. (35.40, 12.56%) and HDFC Asset Management Company Ltd. (3188.90, 8.68%).
Downers:
Largecap and midcap losers today include Thermax Ltd. (1381.45, -2.55%), Alkem Laboratories Ltd. (2842.10, -2.49%) and JSW Energy Ltd. (84.15, -2.38%).
Crowd Puller Stocks
48 stocks in BSE 500 are trading on high volumes today.
Top high volume gainers on BSE included IFCI Ltd. (12.80, 19.63%), Adani Total Gas Ltd. (662.75, 15.40%) and IDBI Bank Ltd. (35.40, 12.56%).
Top high volume losers on BSE were Ircon International Ltd. (91.10, -6.95%), L&T Technology Services Ltd. (2712.35, -0.64%) and TCI Express Ltd. (909.35, -0.62%).
Shoppers Stop Ltd. (233.30, 10.00%) was trading at 34.7 times of weekly average. AIA Engineering Ltd. (1834.65, 0.85%) and Jindal Stainless Ltd. (77.60, 10.78%) were trading with volumes 17.0 and 11.1 times weekly average respectively on BSE at the time of posting this article.
BSE 500: highs, lows and moving averages
82 stocks took off, crossing 52 week highs,
Stocks touching their year highs included - 3M India Ltd. (25962.20, 3.56%), Adani Ports & Special Economic Zone Ltd. (729.85, 1.30%) and Adani Power Ltd. (64.90, 5.87%).
15 stocks climbed above their 200 day SMA including IDBI Bank Ltd. (35.40, 12.56%) and Rallis India Ltd. (279.65, 8.39%). 1 stock slipped below their 200 SMA including Mishra Dhatu Nigam Ltd. (198.05, -1.61%).