Markets fell in today's trading, buffetted by global markets reacting to rising tensions between US and China, weak earnings growth for US companies, and lockdown extensions in major Indian cities.. Nifty 50 closed at 9305.70 (-554.2, -5.6%) , BSE Sensex closed at 31715.35 (-2002.3, -5.9%) while the broader Nifty 500 closed at 7605.45 (-407.5, -5.1%)
Market breadth is highly negative. Of the 1624 stocks traded today, 271 showed gains, and 1278 showed losses.
Goldman Sachs has raised its 2021 forecast for global benchmark Brent crude prices to $55.63 per barrel from $52.50 earlier. The bank has also raised its estimate for U.S. West Texas Intermediate (WTI) crude to $51.38 a barrel from $48.50 previously.
Bajaj Auto followed Maruti Suzuki in announcing zero sales for April, saying that it did not sell any two-wheelers or commercial vehicles in the domestic market that month.
ICICI Lombard and Tech Mahindra among stocks sharply lower today post Q4FY20 results.
Markets are lower in morning trading as tensions rise between the US and China, with the US administration saying that COVID19 emerged out of a Wuhan lab. The lockdown extensions in India have also hurt market sentiment. Nifty 50 was trading at 9454.80 (-405.1, -4.1%) , BSE Sensex was trading at 32209.14 (-1508.5, -4.5%) while the broader Nifty 500 was trading at 7712.65 (-300.3, -3.8%). Market breadth is sharply down. Of the 1507 stocks traded today, 191 were in the positive territory and 1224 were negative.
Riding High:
Largecap and midcap gainers today include Bharat Heavy Electricals Ltd. (23.50, 4.68%), Aurobindo Pharma Ltd. (653.30, 4.39%) and Cipla Ltd. (611.85, 3.77%).
Downers:
Largecap and midcap losers today include Bharat Forge Ltd. (269.80, -12.74%), Motherson Sumi Systems Ltd. (76.60, -12.51%) and L&T Finance Holdings Ltd. (58.00, -11.59%).
Volume Rockets
11 stocks in BSE 500 are trading on high volumes today.
Top high volume gainers on BSE included Radico Khaitan Ltd. (316.35, 7.57%), Shankara Building Products Ltd. (269.15, 4.99%) and Gayatri Projects Ltd. (14.80, 4.96%).
Top high volume losers on BSE were Kalpataru Power Transmissions Ltd. (219.45, -4.00%) and Adani Green Energy Ltd. (209.55, -0.43%).
Sadbhav Engineering Ltd. (49.10, 4.91%) was trading at 10.2 times of weekly average. Ircon International Ltd. (89.05, 4.21%) and Shriram City Union Finance Ltd. (738.10, 0.74%) were trading with volumes 7.3 and 6.8 times weekly average respectively on BSE at the time of posting this article.
BSE 500: highs, lows and moving averages
3 stocks hit their 52 week highs, while 7 stocks hit their 52 week lows.
Stocks touching their year highs included - Abbott India Ltd. (18195.35, 2.62%), Torrent Power Ltd. (330.75, 0.14%) and AstraZeneca Pharma India Ltd. (3242.55, 6.79%).
Stocks making new 52 weeks lows included - Bank of Baroda (45.85, -6.81%) and DCB Bank Ltd. (72.75, -9.74%).
7 stocks climbed above their 200 day SMA including MOIL Ltd. (134.20, 3.63%) and Swan Energy Ltd. (103.55, 3.39%). 13 stocks slipped below their 200 SMA including La Opala RG Ltd. (161.20, -8.44%) and ICICI Lombard General Insurance Company Ltd. (1208.85, -6.33%).