The market closed on an upbeat note. Nifty 50 closed at 14807.30 (70.9, 0.5%) , BSE Sensex closed at 50051.44 (280.2, 0.6%) while the broader Nifty 500 closed at 12410.95 (72.4, 0.6%)
Market breadth is in the green. Of the 1717 stocks traded today, 960 were gainers and 690 were losers.
Alembic is trading with 12 times the average weekly trading volume. KSB, Cera Sanitaryware, and Emami are trading with three times the average weekly trading volume.
ICICI Securities expects Wabco India, MM Forging, JK Tyre, and Apollo Tyre to see tailwinds from the recently announced vehicle scrappage policy.
The promoter group of Westlife Development sells 7.7 lakh shares in the quick-service restaurant operator for Rs 37 crore in two insider trades.
Nifty PSU Bank is in the green, led by strong gains in Bank of Maharashtra, Indian Overseas Bank, Central Bank of India, and Bank of India.
Motilal Oswal maintains a 'Buy' rating on United Spirits with a target price at a 35% upside against the market price.
Construction engineering company KEC International wins orders worth Rs 1,429 crore across the civil, cables, railways, and transmission and distribution businesses.
Real estate company Aurum Ventures will acquire a 14.7% stake in IT-services company Majesco at Rs 77 per share.
Passenger vehicle market leader Maruti Suzuki India will undertake a price hike for various models in Q1FY22.
Goldman Sachs India trims its stake in Kolte-Patil Developers by 1.6% selling 12.7 lakh shares in the realty company via a bulk deal.
Nifty 50 was trading at 14834.30 (97.9, 0.7%) , BSE Sensex was trading at 49997.99 (226.7, 0.5%) while the broader Nifty 500 was trading at 12431.75 (93.2, 0.8%)
Market breadth is highly positive. Of the 1596 stocks traded today, 1292 were gainers and 247 were losers.
Riding High:
Largecap and midcap gainers today include Indian Overseas Bank (16.50, 10.00%), Bank of India (75.20, 9.94%) and Adani Total Gas Ltd. (895.15, 9.28%).
Downers:
Largecap and midcap losers today include Tata Communications Ltd. (1113.20, -4.09%), The New India Assurance Company Ltd. (164.30, -2.84%) and Hindustan Zinc Ltd. (270.45, -2.80%).
Volume Shockers
16 stocks in BSE 500 are trading on high volumes today.
Top high volume gainers on BSE included Sterling and Wilson Solar Ltd. (315.15, 18.95%), Alkyl Amines Chemicals Ltd. (5833.35, 9.44%) and Tata Coffee Ltd. (126.10, 8.24%).
Top high volume losers on BSE were Aster DM Healthcare Ltd. (137.25, -4.29%), Cera Sanitaryware Ltd. (3758.75, -2.62%) and Emami Ltd. (479.75, -1.16%).
KSB Ltd. (840.20, 5.37%) was trading at 9.8 times of weekly average. Adani Green Energy Ltd. (1313.65, 4.91%) and Godfrey Phillips India Ltd. (895.95, 1.05%) were trading with volumes 4.8 and 4.7 times weekly average respectively on BSE at the time of posting this article.
BSE 500: highs, lows and moving averages
17 stocks overperformed with 52 week highs,
Stocks touching their year highs included - ACC Ltd. (1913.75, 2.89%), Adani Power Ltd. (101.60, 4.96%) and Adani Transmission Ltd. (847.50, 6.99%).
5 stocks climbed above their 200 day SMA including Thyrocare Technologies Ltd. (866.30, 3.06%) and Heritage Foods Ltd. (308.70, 2.58%). 4 stocks slipped below their 200 SMA including Aster DM Healthcare Ltd. (137.25, -4.29%) and Multi Commodity Exchange of India Ltd. (1555.10, -3.56%).