Gloom in markets in today's trading.
Nifty 50 closed at 15,755.70 (-113.6, -0.7%) ,
BSE Sensex closed at 52,501.98 (-271.1, -0.5%) while the broader
Nifty 500 closed at 13,496.40 (-111.4, -0.8%).
Market breadth is in the red. Of the 1,754 stocks traded today, 617 were in the positive territory and 1,112 were negative.
AIA Engineering, Godrej Agrovet, Prism Johnson and Bajaj Holdings & Investment are trading in the green with higher delivery volumes compared to Tuesday.
Axis Securities maintains a ‘Buy’ rating on JK Cement with a target price upside of 11% citing the company's expansion of its grey cement plant to cater to the volume requirement of central India.
Dodla Dairy's Rs 520 crore IPO is subscribed 71% with the retail portion booked 1.38 times on day 1 of the bidding process.
L&T Infotech trades higher following the acquisition of Cuelogic Technologies, a Pune based digital engineering company for $8.4 million (Rs 61.6 crore).
Franklin Templeton Mutual Fund lowers its stake in Jagran Prakashan by 0.58% selling 16.2 lakh shares via a bulk deal. Rajasthan Global Securities also acquired 12.9 lakh shares (0.46% stake) in Jagran Prakashan for Rs 7.9 crore via other bulk deals.
WABCO India is trading in green with 61 times its average weekly trading volume. BASF India, IIFL Wealth Management and General Insurance Corporation of India are trading with more than five times their average weekly trading volume.
Sona Comstar's Rs 5,550 crore IPO subscribed 62% with the retail portion booked 1.2 times on the final day of bidding process.
CESC and Rites are trading higher ahead of their Q4FY21 earnings update later today.
Shyam Metalics and Energy's Rs 909 crore IPO is subscribed 6.2 times with the retail portion booked 7.7 times on the final day of bidding process.
Easy Trip Planners' Q4FY21 revenues jump 82% YoY to Rs 57.4 crore with a 9x jump in net profits to Rs 30.4 crore. The online travel agency listed on exchanges in March 2021.
Morgan Stanley Singapore purchases 2.2 lakh shares in Newgen Software Technologies for Rs 10 crore via a bulk deal. The IT software company's stock is up by 58% in one month.
Dodla Dairy raises Rs 156 crore at Rs 428 per share from - SBI Mutual Fund, Aditya Birla Sun Life Mutual Fund, Edelweiss MF, etc. The IPO is worth up to Rs 520 crore, divided between a fresh issue of Rs 50 crore and an OFS of Rs 470 crore.
Lemon Tree Hotels' revenues dip by 46% YoY to Rs 95 crore in Q4FY21 but were higher by 37% sequentially, with net losses lower by 6% YoY to Rs 16.8 crore.
Porinju Veliyath's Equity Intelligence India reduces his stake in Va Tech Wabag by 1.23% selling 7.6 lakh shares in the water treatment company via an insider trade. The fund now holds 3.9 lakh shares for a 0.6% stake.
LIC Housing Finance's Q4FY21 net profits drop 5% YoY to Rs 399 crore with a 33% growth in net interest income to Rs 1,505 crore and a net interest margin of 2.6%.
Mohnish Pabrai's investment fund lowers its stake in real estate company Kolte-Patil Developers by 2.1% selling 16 lakh shares via an insider trade. Last month, the fund sold 16.7 lakh shares (2.2% stake) in the company.
Krishna Institute of Medical Sciences (KIMS) raises Rs 955 crore from 43 anchor investors at Rs 825 per share. The investors include Nomura, Goldman Sachs, HDFC Trustee, Axis Mutual Fund and ICICI Prudential Mutual Fund.
Nifty 50 was trading at 15,864.20 (-5.1, -0.0%) , BSE Sensex was trading at 52,768.91 (-4.1, -0.0%) while the broader Nifty 500 was trading at 13,606.65 (-1.2, -0.0%).
Market breadth is overwhelmingly positive. Of the 1,674 stocks traded today, 1,089 showed gains, and 544 showed losses.
Riding High:
Largecap and midcap gainers today include JSW Energy Ltd. (165.00, 7.46%), The New India Assurance Company Ltd. (174.25, 5.03%) and Tata Power Company Ltd. (125.95, 3.11%).
Downers:
Largecap and midcap losers today include Adani Enterprises Ltd. (1,426.00, -7.33%), Adani Ports & Special Economic Zone Ltd. (706.85, -7.22%) and Adani Transmission Ltd. (1,369.35, -5.33%).
Movers and Shakers
25 stocks in BSE 500 are trading on high volumes today.
Top high volume gainers on BSE included Jai Corp Ltd. (163.75, 15.20%), BASF India Ltd. (2,776.55, 8.89%) and Chambal Fertilisers & Chemicals Ltd. (310.00, 6.84%).
Top high volume losers on BSE were Suprajit Engineering Ltd. (282.70, -8.89%), Mas Financial Services Ltd. (873.10, -2.81%) and IIFL Wealth Management Ltd. (1,147.75, -0.89%).
WABCO India Ltd. (7,298.95, 5.77%) was trading at 90.6 times of weekly average. Jammu & Kashmir Bank Ltd. (30.55, 4.09%) and General Insurance Corporation of India (200.20, 2.75%) were trading with volumes 10.1 and 7.8 times weekly average respectively on BSE at the time of posting this article.
BSE 500: highs, lows and moving averages
42 stocks hit their 52 week highs,
Stocks touching their year highs included - BASF India Ltd. (2,776.55, 8.89%), Bombay Dyeing & Manufacturing Company Ltd. (92.50, 6.94%) and Chambal Fertilisers & Chemicals Ltd. (310.00, 6.84%).
2 stocks climbed above their 200 day SMA including KRBL Ltd. (234.70, -0.51%) and Whirlpool of India Ltd. (2,272.95, -3.33%). 6 stocks slipped below their 200 SMA including Future Retail Ltd. (69.05, -4.96%) and Mas Financial Services Ltd. (873.10, -2.81%).