Nifty 50 closed at 15317.95 (3.3, 0.0%) , BSE Sensex closed at 52104.17 (-50.0, -0.1%) while the broader Nifty 500 closed at 12651.05 (19, 0.2%)
Market breadth is in the red. Of the 1695 stocks traded today, 680 were on the uptick, and 952 were down.
Tata Communication, Mahindra CIE Automotive, Central Bank of India, and Indian Overseas Bank are trading in the green with 7 times the average weekly trading volume.
Railtel Corporation of India's Rs 820 crore initial public offering (IPO) receives 35% subscription in the first 40 minutes of the bidding. The state-run telecom company raised Rs 243 crore from anchor investors on February 15.
Tata Communications is rising as the telecom company announces a partnership with Google Cloud to increase cloud adoption among domestic companies.
HDFC Securities preferred picks in the IT sector are Infosys, HCL Technologies, Persistent Systems, Mphasis and Sonata Software.
Apollo Hospitals Enterprises reports net profits for Q3 at Rs 134.1 crore, a 49% YoY jump and total revenue of Rs 2,759.8 crore, a fall of 5.1% against the year-ago period.
Jet Airways reports a standalone net loss of Rs 2,841 crore and a total income of Rs 354 crore for Q3. The airline has been grounded since April 2019.
Axis Direct signals a 'Hold' rating on Embassy Office Parks Real Estate Investment Trust (REIT) with a target price of Rs 375.
Malabar India Fund trims its stake in Affle by 2.25%, disposing 5.8 lakh shares. The mobile marketing company's stock has surged by 38% in two weeks.
AstraZeneca Pharma India is rising as the pharmaceutical company's Covid-19 vaccine is approved by the World Health Organization for emergency use.
Markets opened high. Nifty 50 was trading at 15420.50 (105.8, 0.7%) , BSE Sensex was trading at 52450.36 (296.2, 0.6%) while the broader Nifty 500 was trading at 12717.50 (85.5, 0.7%)
Market breadth is highly positive. Of the 1587 stocks traded today, 1069 were gainers and 432 were losers.
Riding High:
Largecap and midcap gainers today include Bank of India (70.60, 19.97%), Indian Overseas Bank (13.10, 19.63%) and Adani Total Gas Ltd. (502.50, 17.70%).
Downers:
Largecap and midcap losers today include Info Edge (India) Ltd. (5100.00, -7.62%), Varun Beverages Ltd. (901.60, -4.59%) and Indian Hotels Company Ltd. (126.80, -3.90%).
Movers and Shakers
31 stocks in BSE 500 are trading on high volumes today.
Top high volume gainers on BSE included Bank of India (70.60, 19.97%), Bank of Maharashtra (19.05, 19.81%) and Central Bank of India (16.70, 19.71%).
Top high volume losers on BSE were Varun Beverages Ltd. (901.60, -4.59%), Metropolis Healthcare Ltd. (1935.45, -3.85%) and Engineers India Ltd. (71.30, -3.52%).
Tata Communications Ltd. (1051.50, 5.73%) was trading at 16.8 times of weekly average. Solar Industries India Ltd. (1294.00, 3.67%) and Mahindra CIE Automotive Ltd. (198.75, -1.44%) were trading with volumes 14.6 and 13.2 times weekly average respectively on BSE at the time of posting this article.
BSE 500: highs, lows and moving averages
65 stocks made 52 week highs,
Stocks touching their year highs included - ACC Ltd. (1820.00, 1.79%), Adani Ports & Special Economic Zone Ltd. (637.50, 1.55%) and Adani Transmission Ltd. (766.80, 12.29%).
7 stocks climbed above their 200 day SMA including Central Bank of India (16.70, 19.71%) and AstraZeneca Pharma India Ltd. (3768.85, 3.80%). 4 stocks slipped below their 200 SMA including Alembic Pharmaceuticals Ltd. (960.35, -1.83%) and IOL Chemicals and Pharmaceuticals Ltd. (652.10, -1.11%).