Nifty 50 closed at 11913.20 (56.4, 0.5%) , BSE Sensex closed at 40412.57 (172.7, 0.4%) while the broader Nifty 500 closed at 9638.45 (43.1, 0.5%). Market breadth is in the red. Of the 1642 stocks traded today, 588 showed gains, and 969 showed losses.
- Brent crude oil prices declined 0.4% after US inventories showed an uptick.
- Motilal Oswal is a buy on Larsen & Toubro, with a price target of Rs. 1680. The brokerage notes that "L&T is in a better position to overcome macro challenges compared to mid-cap EPC companies dependent on any single segment/geo...there is a high likelihood that L&T may announce special dividend to return excess cash to shareholders."
- Ujjivan Small Finance Bank, which concluded a Rs 750-crore initial public offering early December, will make its stock market debut on Thursday. The IPO was subscribed more than 165 times at a price band of Rs 36-37 per share.
- Manappuram Finance, Godrej Consumer among stocks seeing positive breakouts.
- After a downgrade on PC Jeweller's bank facilities by CRISIL, CARE Ratings downgraded the ratings to the medium-term instrument - fixed deposit programme of the Company to CARE D (FD). The stock share price is at an all time low.
- Tube Investments may be looking at fundraising, with meetings with institutional investors scheduled this week.
- Ipca Labs, Godrej Consumer, Vodafone Idea among top gainers today.
- Markets are higher in early trading. Nifty 50 was trading at 11880.45 (23.7, 0.2%) , BSE Sensex was trading at 40330.68 (90.8, 0.2%) while the broader Nifty 500 was trading at 9612.20 (16.8, 0.2%). Market breadth is in the green. Of the 1351 stocks traded today, 719 were gainers and 538 were losers.
Riding High:
Largecap and midcap gainers today include GAIL (India) Ltd. (117.30, 5.63%), HDFC Asset Management Company Ltd. (3026.85, 4.73%) and Zee Entertainment Enterprises Ltd. (283.45, 4.61%).
Downers:
Largecap and midcap losers today include YES Bank Ltd. (42.80, -15.33%), Gujarat State Petronet Ltd. (208.35, -3.99%) and Godrej Industries Ltd. (409.50, -3.39%).
Volume Rockets
26 stocks in BSE 500 are trading on high volumes today.
Top high volume gainers on BSE included IFB Industries Ltd. (646.80, 7.81%), Ipca Laboratories Ltd. (1142.05, 7.32%) and Ashoka Buildcon Ltd. (94.60, 4.59%).
Top high volume losers on BSE were Sterlite Technologies Ltd. (107.40, -7.25%), TV Today Network Ltd. (233.95, -6.23%) and TCNS Clothing Co. Ltd. (647.00, -2.74%).
Johnson Controls-Hitachi Air Conditioning India Ltd. (1900.75, -1.68%) was trading at 17.6 times of weekly average. Vardhman Textiles Ltd. (905.05, 0.55%) and Suprajit Engineering Ltd. (177.00, -0.23%) were trading with volumes 9.2 and 8.6 times weekly average respectively on BSE at the time of posting this article.
BSE 500: highs, lows and moving averages
5 stocks made 52 week highs, while 32 stocks tanked below their 52 week lows.
Stocks touching their year highs included - Adani Transmission Ltd. (342.00, 1.57%), Divi's Laboratories Ltd. (1821.80, 0.45%) and DLF Ltd. (223.35, 3.02%).
Stocks making new 52 weeks lows included - Allahabad Bank (19.25, -5.87%) and Caplin Point Laboratories Ltd. (288.25, -3.77%).
8 stocks climbed above their 200 day SMA including Aditya Birla Capital Ltd. (95.80, 4.19%) and Godrej Consumer Products Ltd. (670.55, 3.75%). 9 stocks slipped below their 200 SMA including General Insurance Corporation of India (230.60, -2.97%) and Oberoi Realty Ltd. (508.30, -2.95%).
photo by Appaiah
