Gloom in markets in today's trading. Nifty 50 closed at 15,640.25 (-99.9, -0.6%) , BSE Sensex closed at 51,941.64 (-333.9, -0.6%) while the broader Nifty 500 closed at 13,404.95 (-91.6, -0.7%)
Market breadth is in the red. Of the 1,752 stocks traded today, 621 were gainers and 1,106 were losers.
Abbott India, Dalmia Bharat, Elgi Equipments and Supreme Petrochem are trading with higher delivery volumes compared to Tuesday.
HDFC Securities maintains an ‘Add’ rating on Mahindra & Mahindra with a target price upside of 10%, citing an expected rise in replacement demand for tractors in FY22 from farm owners.
Welspun Corp trades higher following order wins worth Rs 1,725 crore which includes reinstatement of an offshore sour pipe supply in Australia as a part of its Barossa Offshore Development Project.
Engineers India's Q4FY21 revenue rises by 31% YoY to Rs 1,132 crore, with net profits down by nearly 80% to Rs 25 crore due to an exceptional loss of Rs 155 crore.
Dhanuka Agritech is trading with 24 times its average weekly trading volume. TeamLease Services,Responsive Industries and Caplin Point Laboratories are trading in the green with more than six times their average weekly trading volume.
Petronet LNG's consolidated revenues falls by 12% YoY to Rs 7,575 crore in Q4FY21, with net profits up by 71% to Rs 637 crore due to lower raw materials cost.
Birlasoft trades higher as it partners with Regulativ.ai to co-develop an AI-led cybersecurity assessment platform for global banking, financial services and insurance customers. The stock is up by 28% in one week.
Bata India, TeamLease Services and Star Cement are trading higher while GAIL India is trading lower ahead of their Q4 earnings update later today.
Max Financial Services' Q4FY21 revenues rise by 130% YoY to Rs 9,760 crore due to a 22% growth in its life insurance subsidiary's premiums, with net profits up by 10.6x to Rs 70 crore.
Porinju Veliyath's Equity Intelligence India reduces its stake in Va Tech Wabag by 0.02%, selling 14,800 shares on Monday. He now holds 3.01% of the company.
ICICI Bank cuts its stake in Den Networks by 0.5%, selling 24.5 lakh shares worth Rs 142 crore via a bulk deal on Tuesday.
Religare Enterprises proposes to raise Rs 570 crore by issuing 5.4 crore shares at Rs 105.2 per share via a preferential issue. The funds will be used by its broking, housing finance, health insurance, and SME finance subsidiaries.
Prestige Estates Projects’ Q4 net profit jumps 86x YoY to Rs 1,336 crore due to an exceptional profit from monetisation of commercial assets, revenues rise by 14% to Rs 2,268 crore.
Nifty 50 was trading at 15756.50 (16.4, 0.1%) , BSE Sensex was trading at 52371.35 (95.8, 0.2%) while the broader Nifty 500 was trading at 13530.00 (33.5, 0.3%)
Market breadth is ticking up strongly. Of the 1553 stocks traded today, 1170 were on the uptrend, and 365 went down.
Riding High:
Largecap and midcap gainers today include Tata Power Company Ltd. (124.65, 6.49%), REC Ltd. (164.00, 6.05%) and Crompton Greaves Consumer Electricals Ltd. (429.00, 5.52%).
Downers:
Largecap and midcap losers today include Petronet LNG Ltd. (228.55, -7.90%), Indian Overseas Bank (20.55, -5.95%) and The New India Assurance Company Ltd. (167.05, -4.24%).
Volume Rockets
36 stocks in BSE 500 are trading on high volumes today.
Top high volume gainers on BSE included Responsive Industries Ltd. (156.50, 6.57%), Tata Power Company Ltd. (124.65, 6.49%) and REC Ltd. (164.00, 6.05%).
Top high volume losers on BSE were Petronet LNG Ltd. (228.55, -7.90%), DB Corp Ltd. (108.40, -7.51%) and VRL Logistics Ltd. (257.65, -3.68%).
TeamLease Services Ltd. (3,637.20, 5.11%) was trading at 39.5 times of weekly average. Dhanuka Agritech Ltd. (929.80, -1.07%) and Allcargo Logistics Ltd. (137.10, 0.55%) were trading with volumes 27.5 and 12.8 times weekly average respectively on BSE at the time of posting this article.
BSE 500: highs, lows and moving averages
69 stocks made 52 week highs,
Stocks touching their year highs included - Adani Ports & Special Economic Zone Ltd. (852.55, -2.48%), Adani Power Ltd. (152.35, 0.40%) and Astral Ltd. (1,949.00, 1.05%).
3 stocks climbed above their 200 day SMA including Responsive Industries Ltd. (156.50, 6.57%) and Force Motors Ltd. (1,196.30, -0.89%). 11 stocks slipped below their 200 SMA including Petronet LNG Ltd. (228.55, -7.90%) and Vodafone Idea Ltd. (9.66, -3.88%).