Market sinks in today's trading. Nifty 50 closed at 15,746.45 (-78, -0.5%) , BSE Sensex closed at 52,578.76 (-273.5, -0.5%) while the broader Nifty 500 closed at 13,610.30 (-64.8, -0.5%)
Market breadth is in the red. Of the 1,753 stocks traded today, 736 were on the uptick, and 985 were down.
Linde India, Cyient, Kajaria Ceramics, Indraprastha Gas, and NHPC are trading with higher delivery volumes compared to Monday.
Housing and Urban Development Corporation (HUDCO) is trading lower after the company informs that the Government of India is selling 16 crore shares (8% stake) of the company via an offer-for-sale at Rs 45 per share.
Larsen & Toubro's Q1FY22 consolidated revenues rise by 38% YoY to Rs 29,334 crore, with a four-fold increase in net profits to Rs 1,174 crore.
Axis Direct downgrades its rating on Heidelberg Cement India to "Hold" from "Buy" with a target price at a 2% upside due to increased competition in the company's main region of central India.
Alembic Pharmaceuticals is falling after its Q1FY22 net profit declines by 46% YoY to Rs 158.2 crore, with revenues flat at Rs 1,327.9 crore.
Dr. Reddy's Laboratories is trading lower after its Q1FY22 net profit falls 1.5% YoY to Rs 570.8 crore, despite an 11.4% rise in revenues to Rs 49,194 crore.
Glenmark Life Sciences' Rs 1,513.6 crore IPO is already fully subscribed on day 1 at 1.2 times the available shares on offer, with the retail investor portion receiving bids for 2.2 times the available quota of shares
Dalmia Bharat, Sanofi India, TTK Prestige, and Dixon Technologies are trading higher, whereas InterGlobe Aviation, Granules India, and Mahindra Logistics are trading lower ahead of their Q1FY22 earnings update later today.
Tata Motors' consolidated revenues in Q1FY22 doubles on a YoY basis to Rs 66,405 crore, with a 47% decrease in net loss to Rs 4,450 crore.
Inox Leisure is trading in the green with 19 times its weekly average trading volume. Alembic Pharmaceuticals, Pfizer, and Housing and Urban Development Corporation are trading with over three times their weekly average trading volume.
Axis Bank's consolidated net profits rise 114% YoY to Rs 2,356 crore in Q1FY22, with a 11.5% growth in net interest income to Rs 7,934 crore.
Societe Generale sells 33.3 lakh shares (0.75% stake) of Indiabulls Housing Finance for Rs 96.3 crore in a bulk deal on Monday. It now holds 93.2 lakh shares (2% stake) in the company.
DLF posts a net profit of Rs 337.1 crore in Q1FY22 against a net loss of Rs 70.7 crore YoY, revenues increase nearly two-fold to Rs 1,242.3 crore
Glenmark Life Sciences raises Rs 454 crore from 19 anchor investors at Rs 720 per share. The investors include HSBC Global Investment Funds, Vanguard Emerging Markets Fund, Oaktree Emerging Markets Equity Fund, and Kuber India Fund.
Nifty 50 was trading at 15,867.40 (43.0, 0.3%) , BSE Sensex was trading at 52,946.31 (94.0, 0.2%) while the broader Nifty 500 was trading at 13,725.40 (50.3, 0.4%)
Market breadth is surging up. Of the 1,676 stocks traded today, 1,289 showed gains, and 352 showed losses.
Riding High:
Largecap and midcap gainers today include Pfizer Ltd. (6,005.85, 5.87%), JSW Energy Ltd. (252.60, 4.79%) and Hindalco Industries Ltd. (417.35, 4.32%).
Downers:
Largecap and midcap losers today include Alembic Pharmaceuticals Ltd. (807.95, -11.19%), Dr. Reddy's Laboratories Ltd. (4,843.35, -10.49%) and Glenmark Pharmaceuticals Ltd. (588.75, -6.01%).
Movers and Shakers
35 stocks in BSE 500 are trading on high volumes today.
Top high volume gainers on BSE included CCL Products India Ltd. (482.60, 16.29%), MMTC Ltd. (52.85, 11.03%) and APL Apollo Tubes Ltd. (1,750.60, 8.76%).
Top high volume losers on BSE were Alembic Pharmaceuticals Ltd. (807.95, -11.19%), Dr. Reddy's Laboratories Ltd. (4,843.35, -10.49%) and The Ramco Cements Ltd. (1,060.35, -5.59%).
Inox Leisure Ltd. (320.50, 5.79%) was trading at 23.3 times of weekly average. TTK Prestige Ltd. (9,202.35, -0.31%) and Pfizer Ltd. (6,005.85, 5.87%) were trading with volumes 19.8 and 12.8 times weekly average respectively on BSE at the time of posting this article.
BSE 500: highs, lows and moving averages
53 stocks took off, crossing 52 week highs, while 1 stock were underachiever and hit their 52 week lows.
Stocks touching their year highs included - Abbott India Ltd. (17,992.40, 0.74%), ACC Ltd. (2,371.70, 0.11%) and Ajanta Pharma Ltd. (2,248.70, 1.45%).
Stock making new 52 weeks lows included - Alembic Pharmaceuticals Ltd. (807.95, -11.19%).
7 stocks climbed above their 200 day SMA including Ujjivan Financial Services Ltd. (240.55, 2.34%) and PVR Ltd. (1,359.20, 2.20%). 12 stocks slipped below their 200 SMA including Dr. Reddy's Laboratories Ltd. (4,843.35, -10.49%) and Aurobindo Pharma Ltd. (905.40, -4.97%).