Upbeat trading today. Nifty 50 closed at 16,931.05 (225.9, 1.4%) , BSE Sensex closed at 56,889.76 (765.0, 1.4%) while the broader Nifty 500 closed at 14,397.90 (205.4, 1.5%)
Market breadth is ticking up strongly. Of the 1,804 stocks traded today, 1,237 were on the uptick, and 503 were down.
Quess Corp, Emami, Mas Financial Services, Gujarat State Petronet, and Graphite India are trading with higher delivery volumes compared to Friday.
Axis Direct maintains a 'Buy' rating on Steel Strips Wheels with a target price at a 13% upside expecting the company to increase export sales to 50% of total sales by FY24 from 20% in FY21.
IDFC First Bank targets a 25% growth in its loan book in FY22 driven by home loans which will account for 40% of the loan book, according to Managing Director V Vaidyanathan.
Larsen & Toubro trades higher after it announces order wins in the range of Rs 1,000-2,500 crore under its buildings and factories, power transmission and distribution, and smart world and communication businesses.
Anupam Rasayan India is rising after the company signs letter of intent worth Rs 135 crore with a Japanese multinational company to supply specialty chemicals.
Maruti Suzuki India trades higher as it plans to hike passenger vehicle prices in September 2021 to mitigate higher input costs. The company raised prices upto Rs 15,000 in August 2021.
Tata Steel is rising after its Managing Director, T V Narendran says that the company will spend Rs 8,000 crore in capital expenditure for the completion of its Kalinganagar plant, and expansion of domestic mining, and recycling operations in FY22.
Phillips Carbon Black will invest Rs 1,300-1,400 crore in capital expenditure between FY22-23 for research and development and to increase its specialty carbon capacity.
Bliss GVS Pharma, IndiaMART InterMESH, Century Plyboards (India), and Polycab India are trading with more than five times their weekly average trading volume.
Sandhar Technologies, Sona BLW Precision Forgings, and Bharat Forge are rising after reports suggest that they are supplying components to Tesla, the US-based electric vehicle maker.
Dalmia Bharat's wholly-owned subsidiary Dalmia Cement (Bharat) signs a memorandum of understandings (MoU) with the Government of Jharkhand to invest Rs 758 crore by setting up a grinding unit, a solar power plant, and a material recovery facility.
Mahindra & Mahindra's wholly-owned subsidiary, Mahindra Defence Systems wins a contract from the Ministry of Defence worth Rs 1,350 crore to manufacture an integrated anti-submarine warfare defence suite for modern warships of the Indian Navy.
Bharti Airtel's board of directors approve a Rs 21,000 crore rights issue at Rs 535 per share. The shareholders will be able to buy one equity share for every 14 equity shares held by them.
Steel Authority of India is rising as the PSU steel maker announces an investment of Rs 4,000 crore in Jharkhand over the next three years to increase the capacity of its Gua mines.
Nazara Technologies will acquire OpenPlay Technologies, a Hyderabad-based gaming company from its existing stakeholders, Sreeram Reddy Vanga and Unnati Management Consultants, for Rs 186.4 crore.
Upbeat trading today, as Nifty 50 was trading at 16,816.60 (111.4, 0.7%), BSE Sensex was trading at 56,532.16 (407.4, 0.7%) while the broader Nifty 500 was trading at 14,299.15 (106.7, 0.8%)
Market breadth is overwhelmingly positive. Of the 1,708 stocks traded today, 1,351 showed gains, and 290 showed losses.
Riding High:
Largecap and midcap gainers today include Polycab India Ltd. (2,033.55, 7.34%), Dalmia Bharat Ltd. (2,179.50, 7.26%) and Adani Transmission Ltd. (1,505.35, 5.00%).
Downers:
Largecap and midcap losers today include General Insurance Corporation of India (150.45, -2.84%), Tech Mahindra Ltd. (1,419.20, -1.81%) and L&T Technology Services Ltd. (3,908.95, -1.64%).
Volume Rockets
16 stocks in BSE 500 are trading on high volumes today.
Top high volume gainers on BSE included Indian Energy Exchange Ltd. (480.05, 10.65%), IndiaMART InterMESH Ltd. (7,786.90, 9.01%) and Bliss GVS Pharma Ltd. (112.45, 8.28%).
Top high volume losers on BSE were Century Plyboards (India) Ltd. (381.55, -3.44%), Mahindra CIE Automotive Ltd. (223.60, -1.11%) and GMM Pfaudler Ltd. (4,283.55, -0.93%).
Kalpataru Power Transmissions Ltd. (419.95, 8.19%) was trading at 9.7 times of weekly average. Johnson Controls-Hitachi Air Conditioning India Ltd. (2,200.10, 1.75%) and Polycab India Ltd. (2,033.55, 7.34%) were trading with volumes 8.1 and 7.7 times weekly average respectively on BSE at the time of posting this article.
BSE 500: highs, lows and moving averages
37 stocks made 52 week highs,
Stocks touching their year highs included - Bajaj Electricals Ltd. (1,212.35, 2.73%), Bajaj Finance Ltd. (7,165.50, 2.86%) and Bajaj Holdings & Investment Ltd. (4,239.30, 1.06%).
19 stocks climbed above their 200 day SMA including IndiaMART InterMESH Ltd. (7,786.90, 9.01%) and Can Fin Homes Ltd. (566.50, 7.85%). 2 stocks slipped below their 200 SMA including Karnataka Bank Ltd. (60.95, 0.16%) and Dilip Buildcon Ltd. (517.95, 0.22%).