Trendlyne Analysis
Indian markets slumped today. Nifty 50 closed at 18,266.60 (-152.2, -0.8%) , BSE Sensex closed at 61,259.96 (-456.1, -0.7%) while the broader Nifty 500 closed at 15,568.65 (-189.2, -1.2%)
Market breadth is highly negative. Of the 1,800 stocks traded today, 315 were gainers and 1,451 were losers.
Varroc Engineering, eClerx Services, Emami, and RHI Magnesita India are trading with higher delivery volumes compared to Tuesday.
ICICI Securities maintains an ‘Add’ rating on Hindustan Unilever, with a target price upside of 6%. The brokerage expects double-digit volume growth in the nutrition business to boost revenues in H2FY22.
ICICI Securities' Q2FY22 revenue increases by 25.8% YoY to Rs 856.4 crore, with net profits up by 26.2% to Rs 351 crore.
Nomura India buys 13.5 lakh shares of Clean Science & Technology taking a 1.3% stake in the chemicals maker in Q2FY22.
Cement major ACC's revenue grows by 5% YoY to Rs 3,653 crore in the September quarter, with net profits of 450 crore, up by 24% YoY.
Sunil Singhania's Abakkus Fund sells 18 lakh shares of IIFL Securities, lowing its stake in the company to 3.1% in Q2FY22 from 3.7% in Q1FY22.
Vijay Kedia sells 0.65% stake (1.3 lakh shares) in Lykis, decreasing his stake in the company to 9.3% (1.8 lakh shares) worth ? 6.1 Cr in Q2FY22.
PNB Housing Finance, Navin Fluorine International, ACC, and Indus Towers are trading with more than four times their weekly average trading volume.
Reliance Industries’ subsidiary Reliance Retail Ventures acquires 52% stake in Ritu Kumar’s Ritika Pvt. The company also acquired a 40% stake in Manish Malhotra’s MM Styles earlier this week.
Nestle India's revenue in the September quarter rose by 9.6% YoY to Rs 3,865 crore, with net profits up by 5.2% to Rs 617.8 crore.
ICICI Mutual Fund buys 5.5 lakh shares of Krsnaa Diagnostics, 22 lakh shares of Chemplast Sanmar, and 23 lakh shares of G R Infraprojects in Q2FY22.
HDFC Asset Management Company’s Chief Financial Officer (CFO) Piyush Surana submits his resignation. He will step down in January 2022. Navin Fluorine International’s CFO Ketan Sablok resigns with immediate effect.
Bharti Airtel launches Airtel IQ Video, a platform that allows companies to build video streaming products. The management expects this platform to generate revenues of $1 million (Rs 750 crore) in its first phase.
L&T Technology Services’ Q2FY22 revenue grows by 5.9% QoQ to Rs 1,607.7 crore, with net profits up by 6.3% to Rs 230 crore.
Nifty 50 was trading at 18,372.25 (-46.5, -0.3%) , BSE Sensexwas trading at 61,707.49 (-8.6, -0.0%) while the broader Nifty 500 was trading at 15,648.50 (-109.4, -0.7%)
Market breadth is highly negative. Of the 1,729 stocks traded today, 232 were on the uptick, and 1,450 were down.
Riding High:
Largecap and midcap gainers today include Vodafone Idea Ltd. (10.60, 6.00%), Union Bank of India (47.70, 5.07%) and Bharat Heavy Electricals Ltd. (72.90, 4.74%).
Downers:
Largecap and midcap losers today include Indian Railway Catering & Tourism Corporation Ltd. (4434.35, -18.71%), Jubilant Foodworks Ltd. (3965.20, -8.45%) and Aarti Industries Ltd. (1013.25, -8.07%).
Volume Shockers
16 stocks in BSE 500 are trading on high volumes today.
Top high volume gainers on BSE included Mahindra Lifespace Developers Ltd. (289.30, 7.13%), Metropolis Healthcare Ltd. (2907.55, 5.73%) and Balmer Lawrie & Company Ltd. (133.15, 2.78%).
Top high volume losers on BSE were Deepak Nitrite Ltd. (2555.10, -12.67%), Navin Fluorine International Ltd. (3502.40, -9.33%) and Jubilant Foodworks Ltd. (3965.20, -8.45%).
Indus Towers Ltd. (303.00, 2.73%) was trading at 5.9 times of weekly average. PNB Housing Finance Ltd. (547.65, -5.00%) and ACC Ltd. (2263.60, 0.93%) were trading with volumes 5.8 and 5.3 times weekly average respectively on BSE at the time of posting this article.
BSE 500: highs, lows and moving averages
12 stocks hit their 52 week highs, while 1 stock tanked below their 52 week lows.
Stocks touching their year highs included - Bata India Ltd. (2085.40, -1.58%), ICICI Bank Ltd. (745.85, -0.21%) and Mahindra Lifespace Developers Ltd. (289.30, 7.13%).
Stock making new 52 weeks lows included - Strides Pharma Science Ltd. (542.70, -2.95%).
4 stocks climbed above their 200 day SMA including Balmer Lawrie & Company Ltd. (133.15, 2.78%) and Shree Cements Ltd. (27457.40, -0.86%). 25 stocks slipped below their 200 SMA including Rallis India Ltd. (282.45, -7.12%) and Graphite India Ltd. (579.70, -4.09%).