Trendlyne Analysis
Nifty 50 closed at 17,003.75 (-68.9, -0.4%) , BSE Sensex closed at 57,124.31 (-191.0, -0.3%) while the broader Nifty 500 closed at 14,664.80 (-86.7, -0.6%)
Market breadth is overwhelmingly negative. Of the 1,832 stocks traded today, 586 showed gains, and 1,202 showed losses.
Zydus Wellness, Emami, Alkem Laboratories, and KEC International are trading with higher volumes as compared to Thursday.
Radico Khaitan rises for the fourth day in a row and touch all-time highs of Rs 1,234 on the bourses. The stock gained nearly 12% in the past one month owing to robust growth outlook for Q3FY22.
Mphasis rises as the company sets up a joint venture, Mrald, with Ardonagh Service. The 51:49 joint venture's aims at application development and maintenance, with the aim to expand in insurance operations and technologies.
Axis Direct maintains ‘Buy’ on Welspun India with a target price upside of 23% to Rs 173, as the new segment of flooring products will be crucial in driving growth in H2FY22. With rising demand for home comfort products, the company's market share in the US is up to 20%. The brokerage expects revenue growth up to 19% CAGR over FY22-FY24.
Hero MotoCorp rises as the company announces price hikes of upto Rs 2,000 on its motorcycles and scooters effective January 4, 2022 to offset the impact of high commodity prices.
Ajanta Pharma surges in trade as its Board mulls a buy-back of equity shares in the board meeting to be held on December 28
Sharda Cropchem is trading with more than 22 times its weekly average trading volumes. Johnson Controls, United Breweries, HCL Technologies, and Caplin Point Laboratories are trading with more than three times their weekly average trading volumes.
Tech stocks like Infosys, Birlasoft, and Tech Mahindra rise for the fourth day in a row and touch all-time highs on the bourses. The continuous rise is owing to the robust growth outlook for FY22 given by IT giant Accenture.
GAIL approves an interim dividend of Rs 4 per share. The total dividend outgo for the company will be Rs 1,760.7 crore out of which Government of India will receive Rs 913.8 crore in its kitty. The record date is December 31, 2021
Data Patterns’ shares list at 47% premium to the issue price of Rs 585 on the bourses after getting bids for 120X of total shares on offer.
Adani Enterprises forms a new arm, Adani Data Networks, for Rs 2.5 crore to provide domestic and international network connectivity services and develop optical fiber infrastructure.
L&T Finance signs an agreement to sell its mutual fund business, L&T Investment Management, by selling 100% equity shares, to HSBC AMC for Rs 3,191 crore. This divestment decision stems from L&T Finance’s strategy of strengthening its balance sheet. The proposed transaction is subject to regulatory approvals.
Markets are trading on a low note. Nifty 50 was trading at 16,943.50 (-129.1, -0.8%) , BSE Sensex was trading at 56,970.51 (-344.8, -0.6%) while the broader Nifty 500 was trading at 14627.45 (-124, -0.8%)
Market breadth is moving down. Of the 1,818 stocks traded today, 575 were gainers and 1,205 were losers.
Riding High:
Largecap and midcap gainers today include Ajanta Pharma Ltd. (2,122.70, 3.16%), HCL Technologies Ltd. (1,265.20, 3.08%) and Indian Overseas Bank (20.80, 2.97%).
Downers:
Largecap and midcap losers today include L&T Finance Holdings Ltd. (76.90, -6.90%), Biocon Ltd. (354.45, -5.32%) and Torrent Pharmaceuticals Ltd. (3,046.20, -3.68%).
Movers and Shakers
13 stocks in BSE 500 are trading on high volumes today.
Top high volume gainers on BSE included Vakrangee Ltd. (42.00, 12.60%), Firstsource Solutions Ltd. (183.45, 4.80%) and Central Bank of India (21.95, 3.78%).
Top high volume losers on BSE were L&T Finance Holdings Ltd. (76.90, -6.90%), Johnson Controls-Hitachi Air Conditioning India Ltd. (2066.75, -2.87%) and United Breweries Ltd. (1,568.75, -1.34%).
Dhanuka Agritech Ltd. (734.55, 0.80%) was trading at 12.2 times of weekly average. Swan Energy Ltd. (147.30, -0.61%) and Allcargo Logistics Ltd. (375.90, 0.45%) were trading with volumes 11.2 and 5.2 times weekly average respectively on BSE at the time of posting this article.
BSE 500: highs, lows and moving averages
10 stocks made 52-week highs, while 2 stocks tanked below their 52-week lows.
Stocks touching their year highs included - Allcargo Logistics Ltd. (375.90, 0.45%), Persistent Systems Ltd. (4,618.05, -0.25%) and Radico Khaitan Ltd. (1,198.95, 1.64%).
Stocks making new 52 weeks lows included - Indostar Capital Finance Ltd. (233.30, -1.91%) and Indigo Paints Ltd. (1,914.15, -2.04%).
16 stocks climbed above their 200 day SMA including Firstsource Solutions Ltd. (183.45, 4.80%) and Ajanta Pharma Ltd. (2,122.70, 3.16%). 12 stocks slipped below their 200 SMA including Aster DM Healthcare Ltd. (172.30, -3.45%) and Jubilant Foodworks Ltd. (3,434.25, -2.83%).