Markets closed on a low note. Nifty 50 closed at 15206.75 (-106.7, -0.7%) , BSE Sensex closed at 51703.83 (-400.3, -0.8%) while the broader Nifty 500 closed at 12592.90 (-54.3, -0.4%)
Market breadth is horizontal. Of the 1699 stocks traded today, 818 showed gains, and 821 showed losses.
Garware Technical Fibres and Tata Consumer Products hit new lifetime highs. Indian Overseas Bank and PNB Housing Finance hit new 52-week highs.
TCNS Clothing Co is trading with volume 180 times the weekly average trading volume. UCO Bank and Dr. Lal Pathlabs are trading with volume 10 times the weekly average.
Info Edge receives a rating downgrade from 'Buy' to 'Hold' from ICICI Securities. The stock's average broker target price is 31.2% lower than the market price.
Commerical vehicle manufacturer Ashok Leyland picks up a 26% stake in Prathama Solarconnect Energy a solar power generation company for Rs 18.6 crore.
ICICI Securities downgrades its rating on LIC Housing Finance from 'Buy' to 'Hold' citing the stock's recent rally. The PSU housing finance company's stock is up by 18% since the beginning of the month.
Small Cap World Fund acquires 8.5 lakh shares in APL Apollo Tubes for Rs 83 crore, taking a 0.7% stake in the company.
Nestle India reports Q3 net profits at Rs 483.3 crore, a 2.2% rise on a YoY basis with total revenues of Rs 3,432.6 crore, a 9% increase against the year ago period. The FMCG company's board approves a dividend of Rs 65 per share.
Adani Ports and Special Economic Zone acquires Dighi Port for Rs 705 crore with an aim to invest an additional Rs 10,000 crore to make it an alternative gateway to the Jawaharlal Nehru Port Trust (JNPT).
KEC International, the construction engineering company, wins four orders worth Rs 1,680 crore in the domestic and overseas market.
ICICI Bank will acquire a 5.4% stake in CityCash, a transit payments company for Rs 4.9 crore, and a 9.6% stake in Thillais Analytical Solutions, a neobank for Rs 1.1 crore.
Gloom in markets in early trading. Nifty 50 was trading at 15266.30 (-47.2, -0.3%) , BSE Sensex was trading at 51802.25 (-301.9, -0.6%) while the broader Nifty 500 was trading at 12634.60 (-12.6, -0.1%)
Market breadth is in the green. Of the 1568 stocks traded today, 839 were on the uptick, and 650 were down.
Riding High:
Largecap and midcap gainers today include Bank of India (84.70, 19.97%), Indian Overseas Bank (15.70, 19.85%) and Union Bank of India (38.25, 10.55%).
Downers:
Largecap and midcap losers today include Supreme Industries Ltd. (1905.00, -3.44%), Info Edge (India) Ltd. (4928.25, -3.28%) and Page Industries Ltd. (28400.00, -3.21%).
Movers and Shakers
34 stocks in BSE 500 are trading on high volumes today.
Top high volume gainers on BSE included Bank of India (84.70, 19.97%), Bank of Maharashtra (22.85, 19.95%) and Indian Overseas Bank (15.70, 19.85%).
Top high volume losers on BSE were Nestle India Ltd. (16729.45, -2.83%) and Sonata Software Ltd. (388.15, -1.65%).
TCNS Clothing Co. Ltd. (444.85, 10.15%) was trading at 195.5 times of weekly average. ITI Ltd. (133.50, 9.61%) and UCO Bank (14.20, 7.98%) were trading with volumes 37.6 and 29.8 times weekly average respectively on BSE at the time of posting this article.
BSE 500: highs, lows and moving averages
49 stocks made 52 week highs,
Stocks touching their year highs included - Adani Ports & Special Economic Zone Ltd. (655.90, 3.04%), Adani Transmission Ltd. (744.50, -2.49%) and Ambuja Cements Ltd. (286.95, 1.02%).
6 stocks climbed above their 200 day SMA including Central Bank of India (20.00, 19.76%) and UCO Bank (14.20, 7.98%). 4 stocks slipped below their 200 SMA including Nestle India Ltd. (16729.45, -2.83%) and CESC Ltd. (606.70, -1.84%).