Markets closed upbeat today. The Nifty 50 closed at 12082.75 (111.0, 0.9%) , BSE Sensex closed at 41009.71 (428, 1.1%) while the broader Nifty 500 closed at 9780.70 (89.6, 0.9%). Market breadth is surging up. Of the 1648 stocks traded today, 1036 were on the uptick, and 498 were down.
- Dr. Reddy's sharp fall in share price happened today after a competitor beat Dr.Reddy's to the punch in the race to launch a generic Nuvaring in the US. The birth control drug has a $800 million market size.
- HDFC hit a record high in share price. The stock is in 21 stock screeners.
- Sharekhan is bullish on Ultratech Cement, saying that the stock will benefit from government spending and falling input prices. All Reports
- Axis Bank, Balkrishna Industries among stocks seeing positive breakouts past the second resistance.
- Finance Minister Nirmala Sitharaman is having a press conference today at 315 pm, likely aiming to address weak sentiment around the economy. Speculation is rife that new tax decisions are on the horizon.
- Asian market recovery have been helped by exit polls in the UK indicating a clear victory for Boris Johnson's Tories, suggesting a way out of the Brexit deadlock.
- Navin Flourine is up after the company announced a fresh Rs 450-crore investment in a new project in Gujarat’s Dahej.
- Simplex Infrastructures is lower in share price today after CARE Ratings revised its ratings for banking facilities and NCDs aggregating to Rs 10,995 crore to ‘Default (CARE D)’.
- VIP Industries Chief Financial Office Jogendra Sethi has resigned.
- DLF, ICICI Bank, SRF hit fresh highs.
- Markets opened high in morning trade. Nifty 50 crossed 12,000, trading at 12033.70 (61.9, 0.5%) , BSE Sensex was trading at 40857.20 (275.5, 0.7%) while the broader Nifty 500 was trading at 9746.95 (55.8, 0.6%). Market breadth is overwhelmingly positive. Of the 1376 stocks traded today, 982 were in the positive territory and 321 were negative.
Riding High:
Largecap and midcap gainers today include Union Bank of India (59.75, 7.08%), Punjab National Bank (64.50, 6.09%) and Indiabulls Housing Finance Ltd. (307.15, 5.46%).
Downers:
Largecap and midcap losers today include Dr. Reddy's Laboratories Ltd. (2822.70, -2.85%), Jindal Steel & Power Ltd. (138.20, -2.85%) and Graphite India Ltd. (306.80, -2.43%).
Crowd Puller Stocks
26 stocks in BSE 500 are trading on high volumes today.
Top high volume gainers on BSE included UCO Bank (16.95, 11.88%), Corporation Bank (25.60, 7.79%) and Shipping Corporation of India Ltd. (63.80, 7.41%).
Top high volume losers on BSE were Jain Irrigation Systems Ltd. (7.60, -4.40%), Bajaj Consumer Care Ltd. (225.65, -1.72%) and DCB Bank Ltd. (172.10, -1.01%).
Motilal Oswal Financial Services Ltd. (766.90, 0.42%) was trading at 11.5 times of weekly average. Redington (India) Ltd. (115.65, 0.92%) and Blue Dart Express Ltd. (2181.00, -0.86%) were trading with volumes 7.1 and 6.6 times weekly average respectively on BSE at the time of posting this article.
BSE 500: highs, lows and moving averages
9 stocks hit their 52 week highs, while 5 stocks hit their 52 week lows.
Stocks touching their year highs included - Divi's Laboratories Ltd. (1841.00, 0.65%), DLF Ltd. (228.65, 1.67%) and Gujarat Gas Ltd. (232.00, 1.84%).
Stocks making new 52 weeks lows included - CCL Products India Ltd. (183.00, -1.19%) and Dewan Housing Finance Corporation Ltd. (14.70, 5.00%).
19 stocks climbed above their 200 day SMA including UCO Bank (16.95, 11.88%) and ITI Ltd. (93.30, 5.01%). 1 stock slipped below their 200 SMA including Jindal Steel & Power Ltd. (138.20, -2.85%).
Photo by Appaiah