Markets fell in today's trading. Nifty 50 closed at 14920.90 (-110.1, -0.7%) , BSE Sensex closed at 50395.08 (-397, -0.8%) while the broader Nifty 500 closed at 12505.25 (-88.7, -0.7%)
Market breadth is in the red. Of the 1761 stocks traded today, 573 showed gains, and 1140 showed losses.
Laxmi Organics' Rs 600 crore IPO is subscribed 1.23 times with the retail portion booked 2.3 times on day one of the bidding process.
UCO Bank, Sundram Fasteners, Linde India, and Uflex are trading in the green with three times the average weekly trading volume.
Nifty Financial Services is in the red pulled down by losses in Shriram Transport Finance Company, Axis Bank, ICICI Prudential Life Insurance Company, and Piramal Enterprises.
Tech Mahindra acquires a 70% stake in Perigord Asset Holdings a BPO services firm that will boost the IT-major's life-sciences offering.
MTAR Technologies lists at Rs 1,063, an 82% premium against its IPO issue price of Rs 575 per share.
The board of real estate major DLF will meet on March 17 to consider a fundraise of Rs 500 crore via debt securities.
Craftsman Automation, the auto-components company, raises Rs 247 crore from anchor investors at Rs 1,490 per share.
State-owned oil & gas company Oil And Natural Gas Corporation's contribution to the national production of crude oil and natural gas jumps to 70%.
Specialty chemicals company Atul's promoters create a pledge on 50,000 shares worth Rs 34 crore. At the close of the December 2020 quarter, 44% of promoter shareholding was pledged.
Nirmal Bang downgrades its target price to Rs 286 per share on Prestige Estates Projects following the real-estate company's deal with Blackstone Group.
Laxmi Organics raises Rs 180 crore at Rs 130 per share to anchor investors. The agrochemical company's Rs 600 crore IPO opens on March 15.
Indian markets slumped today. Nifty 50 was trading at 14917.55 (-113.4, -0.8%) , BSE Sensex was trading at 50109.24 (-682.8, -1.3%) while the broader Nifty 500 was trading at 12510.90 (-83, -0.7%)
Market breadth is in the red. Of the 1655 stocks traded today, 563 showed gains, and 992 showed losses.
Riding High:
Largecap and midcap gainers today include Oberoi Realty Ltd. (596.60, 6.80%), Steel Authority of India (SAIL) Ltd. (76.70, 5.28%) and Adani Power Ltd. (79.30, 4.96%).
Downers:
Largecap and midcap losers today include Au Small Finance Bank Ltd. (1188.55, -5.33%), Hindustan Aeronautics Ltd. (1016.00, -4.26%) and IDBI Bank Ltd. (40.35, -3.93%).
Volume Rockets
8 stocks in BSE 500 are trading on high volumes today.
Top high volume gainers on BSE included Meghmani Organics Ltd. (123.55, 19.03%), Indostar Capital Finance Ltd. (366.00, 8.83%) and Uflex Ltd. (439.00, 5.47%).
Top high volume loser on BSE was Bliss GVS Pharma Ltd. (129.80, -20.00%).
UCO Bank (14.05, 4.85%) was trading at 5.4 times of weekly average. Linde India Ltd. (1832.35, 3.41%) and Sundram Fasteners Ltd. (758.30, 1.67%) were trading with volumes 3.8 and 3.2 times weekly average respectively on BSE at the time of posting this article.
BSE 500: highs, lows and moving averages
30 stocks hit their 52 week highs,
Stocks touching their year highs included - 3M India Ltd. (27450.70, 0.42%), Blue Dart Express Ltd. (5507.65, -0.90%) and Cyient Ltd. (668.20, -1.68%).
2 stocks climbed above their 200 day SMA including UCO Bank (14.05, 4.85%) and VST Industries Ltd. (3477.35, 1.53%). 16 stocks slipped below their 200 SMA including Bliss GVS Pharma Ltd. (129.80, -20.00%) and Sumitomo Chemical India Ltd. (272.50, -3.45%).