Markets rose in today's trading. Nifty 50 closed at 14335.45 (700.9, 5.1%) , BSE Sensex closed at 48600.61 (2314.8, 5%) while the broader Nifty 500 closed at 11805.10 (502.7, 4.5%)
Market breadth is surging up. Of the 1712 stocks traded today, 1198 were on the uptick, and 459 were down.
Budgetwatch:
Dividend income payments to real estate investment trusts (REITs) and infrastructure investment trusts (InvITs) exempt from TDS.
Fiscal deficit for FY21 pegged at 9.5% of GDP. Fiscal deficit for FY22 expected at 6.8%. FY22 gross borrowing target at Rs 12 lakh crore.
Tax audit limits increased from Rs 5 crore to Rs 10 crore.
Incentives worth Rs 1,500 crore earmarked to promote digital modes of payment.
Agriculture credit target increased to Rs 16.5 lakh crore and Rs 40,000 crore proposed for the rural infrastructure fund.
Public sector banks' recapitalization provided at Rs 20,000 crore.
Disinvestment target of Rs 1.7 lakh crore. Two public sector banks and one general insurance company will be privatized.
Strategic disinvestment in Air India, BPCL, Pawan Hans, Neelachal Ispat Nigam, Shipping Corporation of India, and Container Corporation would be completed in FY22.
Life Insurance Corporation (LIC) IPO to be in FY22.
Foreign Direct Investment in insurance companies increased to 74% from 49%.
Hydrogen energy mission to be launched in FY22.
Framework for consumers to be given the choice of more than one power distribution company.
Ministry of Road Transport & Highways to receive Rs 1.1 lakh crore. New road infrastructure projects in Tamil Nadu, Kerala, Assam, and West Bengal.
Seven textile investment parks over the next three years in addition to the PLI schemes.
Vehicles to undergo pollution 'fitness test' - 20 years for passenger vehicles and 15 years for commercial vehicles.
Total outlay for health and well-being initiatives stands at Rs 2.2 lakh crore. Atmanirbhar Health Yojana introduced with an outlay of Rs 64,000 crore over 6 years.
Six pillars of the Budget: Heath and well-being, infrastructure, inclusive development, development of human capital, research and development, and minimum government - maximum government.
Nifty Bank, Nifty PSU Bank, and Nifty Realty are trading higher while Nifty Pharma trades lower.
Marketwatch:
Maruti Suzuki India, the market leader in the PV market, reports a 4% YoY rise in total monthly sales at 1.6 lakh units for January 2021.
Nifty Auto trades higher led by gains in - Mahindra & Mahindra, MRF, Ashok Leyland, Bajaj Auto, and Tata Motors.
Sectoral indices trading in the green - Nifty Financial Services, Nifty Realty, Nifty Bank, Nifty Energy, and Nifty Metal.
Banking and NBFC NIfty 50 stocks trading higher - IndusInd Bank, ICICI Bank, HDFC, HDFC Bank, and State Bank of India.
KNR Constructions, Ashok Buildcon, and Dilip Buildcon rise as infrastructure stocks trade higher.
ICICI Prudential Mutual Fund increases its stake in Inox Leisure and Cholamandalam Financial Holdings through bulk deals.
Pharmaceutical company Cipla reports a YoY revenue increase of 18% to Rs 5,168 crore with net profits at Rs 748 crore in Q3.
Indian Oil Corporation reports a two-fold YoY rise in Q3 net profits to Rs 4,916 crore, with revenue for the quarter at Rs 1.5 lakh crore.
Markets are up today morning. Nifty 50 was trading at 13711.10 (76.5, 0.6%) , BSE Sensex was trading at 46541.90 (256.1, 0.6%) while the broader Nifty 500 was trading at 11339.70 (37.3, 0.3%)
Market breadth is in the green. Of the 1583 stocks traded today, 814 showed gains, and 706 showed losses.
Riding High:
Largecap and midcap gainers today include IndusInd Bank Ltd. (970.60, 14.71%), ICICI Bank Ltd. (603.80, 12.44%) and IDBI Bank Ltd. (30.95, 11.53%).
Downers:
Largecap and midcap losers today include UPL Ltd. (534.10, -4.74%), Dr. Reddy's Laboratories Ltd. (4428.15, -3.79%) and Gujarat Gas Ltd. (359.35, -2.94%).
Volume Shockers
28 stocks in BSE 500 are trading on high volumes today.
Top high volume gainers on BSE included NCC Ltd. (67.05, 13.74%), Shriram City Union Finance Ltd. (1152.10, 13.10%) and HEG Ltd. (1048.00, 11.94%).
Top high volume losers on BSE were KRBL Ltd. (202.40, -14.65%), Jindal Stainless (Hisar) Ltd. (123.50, -9.62%) and Jindal Stainless Ltd. (74.15, -8.68%).
General Insurance Corporation of India (138.65, 5.12%) was trading at 10.1 times of weekly average. The New India Assurance Company Ltd. (138.40, 8.98%) and Dilip Buildcon Ltd. (440.60, 4.19%) were trading with volumes 8.9 and 6.8 times weekly average respectively on BSE at the time of posting this article.
BSE 500: highs, lows and moving averages
12 stocks hit their 52 week highs,
Stocks touching their year highs included - Adani Transmission Ltd. (481.50, 4.64%), Carborundum Universal Ltd. (429.25, 6.28%) and Cummins India Ltd. (730.00, 9.55%).
7 stocks climbed above their 200 day SMA including General Insurance Corporation of India (138.65, 5.12%) and Manappuram Finance Ltd. (164.05, 5.09%). 7 stocks slipped below their 200 SMA including Dr. Reddy's Laboratories Ltd. (4428.15, -3.79%) and Pfizer Ltd. (4537.65, -2.14%).