Gloom in markets in today's trading. Nifty 50 closed at 14349.60 (-485.3, -3.3%) , BSE Sensex closed at 47883.38 (-1707.9, -3.4%) while the broader Nifty 500 closed at 12052.45 (-475.0, -3.8%)
Market breadth is overwhelmingly negative. Of the 1764 stocks traded today, 144 showed gains, and 1596 showed losses.
Nifty Financial Services (FINNIFTY) trades in the red, pulled down by losses in Mahindra & Mahindra Financial Services, Shriram Transport Finance Company, Piramal Enterprises, and Power Finance Corporation.
JMC Projects, a construction engineering company under Kalpataru Power Transmission wins domestic and foreign orders worth Rs 1,262 crore
Tata Power falls 10% after terminating its $2 billion (Rs 15,000 crore) investment deal with Malaysian state-owned oil and gas company Petroliam Nasional (Petronas).
Life Insurance Corporation of India increases its stake in JSW Steel in Q4FY21 to 4.8% from 4%.
Nifty 50 pharma stocks - Cipla, Dr. Reddy's Laboratories, and Sun Pharmaceutical Industries are trading higher despite the declining market.
UTI Mutual Fund acquires 2.5 lakh shares of newly listed Barbeque-Nation Hospitality for Rs 14.5 crore.
Porinju Veliyath's Equity Intelligence India Fund increases its stake in Zee Media Corporation to 2.6% in Q4FY21 from 1.5% in the previous quarter.
Axis Securities in a report on consumer durables expects the government's PLI scheme for room ACs, LED Lights, and laptops to be tailwinds for Dixon Technologies, Amber Enterprises, and Polycab India.
Infosys will consider a buyback of equity shares in the reported range of Rs 10,000-12,000 crore priced at Rs 1,650-1,670 per share. The IT major will announce its Q4FY21 results on 14 April.
Rakesh Jhunjhunwala lowers his stake in VIP Industries to 2.3% and Firstsource Solutions to below 1% in Q4FY21.
Markets fell in early trading. Nifty 50 was trading at 14454.75 (-380.1, -2.6%) , BSE Sensex was trading at 48417.05 (-1174.3, -2.4%) while the broader Nifty 500 was trading at 12154.40 (-373, -3.0%)
Market breadth is overwhelmingly negative. Of the 1669 stocks traded today, 148 were gainers and 1492 were losers.
Riding High:
Largecap and midcap gainers today include Dr. Lal Pathlabs Ltd. (3314.50, 5.66%), Dr. Reddy's Laboratories Ltd. (4989.20, 4.81%) and Ipca Laboratories Ltd. (2159.15, 3.51%).
Downers:
Largecap and midcap losers today include Bharat Heavy Electricals Ltd. (45.05, -12.52%), DLF Ltd. (246.60, -11.79%) and Tata Power Company Ltd. (92.20, -11.43%).
Volume Rockets
19 stocks in BSE 500 are trading on high volumes today.
Top high volume gainers on BSE included Dr. Reddy's Laboratories Ltd. (4989.20, 4.81%), Solara Active Pharma Sciences Ltd. (1420.00, 3.07%) and Cipla Ltd. (907.50, 2.77%).
Top high volume losers on BSE were RBL Bank Ltd. (188.60, -10.64%), Ashoka Buildcon Ltd. (87.20, -10.06%) and Aavas Financiers Ltd. (2135.00, -8.26%).
Brigade Enterprises Ltd. (254.70, -4.30%) was trading at 7.7 times of weekly average. Strides Pharma Science Ltd. (874.65, 1.37%) and TTK Prestige Ltd. (7305.00, -2.29%) were trading with volumes 5.8 and 5.7 times weekly average respectively on BSE at the time of posting this article.
BSE 500: highs, lows and moving averages
14 stocks made 52 week highs,
Stocks touching their year highs included - Cadila Healthcare Ltd. (499.95, -2.82%), Cipla Ltd. (907.50, 2.77%) and eClerx Services Ltd. (1215.00, -0.48%).
3 stocks climbed above their 200 day SMA including Dr. Reddy's Laboratories Ltd. (4989.20, 4.81%) and Torrent Pharmaceuticals Ltd. (2579.15, 0.17%). 49 stocks slipped below their 200 SMA including RBL Bank Ltd. (188.60, -10.64%) and Zee Entertainment Enterprises Ltd. (184.20, -10.60%).