Markets closed up today. Nifty 50 closed at 14949.40 (126.3, 0.9%) , BSE Sensex closed at 49502.41 (295.9, 0.6%) while the broader Nifty 500 closed at 12677.65 (114.6, 0.9%)
Market breadth is highly positive. Of the 1773 stocks traded today, 1169 were on the uptrend, and 561 went down.
IDFC First Bank reports a 79% jump YoY in consolidated net profits to Rs 128 crore, with net interest income growing by 15% YoY to Rs 1,960 crore.
HDFC Securities maintains an ‘Add’ on Hero Motocorp with a target price at an upside of 14.1%, expecting an improvement in exports, aided by a low base and a revamped strategy in Bangladesh and Latin America.
IDBI Bank cuts its stake in 3i Infotech by 2.2% selling 3.5 crore shares in the IT consulting company via an insider trade.
Geojit BNP Paribas upgrades its rating on Mahindra CIE Automotive to 'Buy' from 'Accumulate' due to the company's cost control initiatives and growing European business.
ICICI Prudential Mutual Fund acquires 90 lakh shares in SBI Life Insurance Company via a bulk deal. The mutual fund now holds 1.7% of the life insurer.
GMM Pfaudler is trading with 13 times the weekly average trading volume. CSB Bank, Rossari Biotech, Maharashtra Seamless, and Oil India are trading in the green with five times the average weekly trading volume.
Bandhan Bank reports an 80% decline in net profits YoY to Rs 103 crore with net interest income up by 4.6% to Rs 1,757 crore.
Cipla, Lupin, and Sun Pharmaceutical Industries rise as the US drug-maker Eli Lilly gives royalty-free, non-exclusive licenses to manufacture Baricitinib to treat Covid-19 patients.
Housing Development Finance Corporation will sell a 0.62% stake in its general insurance subsidiary HDFC Ergo for Rs 236 crore to the joint venture partner Ergo International.
Avenue Supermarts, the operator of supermarket chain D-Mart, reports an 18% YoY growth in revenues for Q4FY21 at Rs 7,460 crore, with net profits up by 52%.
Maruti Suzuki India extends the maintenance shutdown of its Haryana plant till May 16 on account of the Covid-19 pandemic.
UltraTech Cement reports a 33% YoY growth in consolidated revenues to Rs 14,405 crore in Q4FY21, with net profits down by 45% YoY to Rs 1,755 crore due to a high base in the year-ago period.
Markets are up today morning. Nifty 50 was trading at 14937.55 (114.4, 0.8%) , BSE Sensex was trading at 49492.99 (286.5, 0.6%) while the broader Nifty 500 was trading at 12658.20 (95.1, 0.8%)
Market breadth is overwhelmingly positive. Of the 1691 stocks traded today, 1236 were gainers and 402 were losers.
Riding High:
Largecap and midcap gainers today include Bharat Heavy Electricals Ltd. (65.70, 13.67%), NMDC Ltd. (202.50, 9.61%) and Torrent Power Ltd. (451.20, 8.45%).
Downers:
Largecap and midcap losers today include Kansai Nerolac Paints Ltd. (567.00, -4.10%), Cholamandalam Investment & Finance Company Ltd. (552.20, -2.94%) and Larsen & Toubro Infotech Ltd. (3673.00, -2.54%).
Volume Shockers
34 stocks in BSE 500 are trading on high volumes today.
Top high volume gainers on BSE included Sun Pharma Advanced Research Company Ltd. (221.75, 19.93%), Gujarat Mineral Development Corporation Ltd. (77.00, 13.74%) and GHCL Ltd. (272.45, 13.17%).
Top high volume losers on BSE were Lakshmi Machine Works Ltd. (6051.35, -1.96%), Avenue Supermarts Ltd. (2848.80, -1.61%) and Zydus Wellness Ltd. (2108.95, -0.44%).
GMM Pfaudler Ltd. (4400.00, 8.96%) was trading at 24.6 times of weekly average. CSB Bank Ltd. (270.95, 5.18%) and Venky's (India) Ltd. (1680.00, 2.52%) were trading with volumes 9.7 and 9.3 times weekly average respectively on BSE at the time of posting this article.
BSE 500: highs, lows and moving averages
58 stocks took off, crossing 52 week highs,
Stocks touching their year highs included - Adani Transmission Ltd. (1162.00, -1.22%), Aurobindo Pharma Ltd. (1045.25, 3.18%) and Bajaj Finserv Ltd. (11332.00, 0.12%).
16 stocks climbed above their 200 day SMA including GMM Pfaudler Ltd. (4400.00, 8.96%) and Torrent Pharmaceuticals Ltd. (2770.00, 5.88%). 2 stocks slipped below their 200 SMA including Procter & Gamble Health Ltd. (5845.00, -0.32%) and Godrej Agrovet Ltd. (517.30, 0.42%).