Market breadth is in the green. Of the 1611 stocks traded today, 948 were gainers and 594 were losers.
JSW Steel says it is expecting supply to normalize in June post the nationwide and global lockdowns. Demand however, is expected to be a U shaped recovery, the company says.
UPL and Bajaj Finserv are among companies seeing brokerage preferences with upside.
Elgi Equipments says it is closing down its Chinese subsidiary, due to the economic downturn in the country, which has hit industry growth and jobs across sectors.
Morgan Stanley predicts increased digital adoption in India, and Reliance Jio seeing some advantages to growth as platform
Kotak Mahindra Bank is up today on the launch of its QIP. It has set the floor price of the issue at Rs. 1147.75 per share.
Fertiliser company Bayer CropScience hits new year high today.
Glenmark Pharma is up today after the company said that its subsidiary has received approval from the US FDA to market Chlorzoxazone tablets (for muscle pain) in the US.
Markets opened flat in early trading but are now higher. Nifty 50 was trading at 9035.35 (6.3, 0.1%) , BSE Sensex was trading at 30568.50 (-40.8, -0.1%) while the broader Nifty 500 was trading at 7420.90 (-3.6, -0.1%). Market breadth is balanced. Of the 1422 stocks traded today, 643 were on the uptick, and 675 were down.
Riding High:
Largecap and midcap gainers today include Axis Bank Ltd. (389.50, 14.12%), Cholamandalam Investment & Finance Company Ltd. (134.85, 10.44%) and Godrej Industries Ltd. (315.90, 9.73%).
Downers:
Largecap and midcap losers today include Torrent Pharmaceuticals Ltd. (2410.00, -6.65%), Emami Ltd. (195.70, -5.18%) and Alkem Laboratories Ltd. (2300.00, -4.64%).
Volume Rockets
41 stocks in BSE 500 are trading on high volumes today.
Top high volume gainers on BSE included Dhanuka Agritech Ltd. (569.90, 14.93%), Birla Corporation Ltd. (548.50, 12.44%) and Shipping Corporation of India Ltd. (48.10, 12.25%).
Top high volume losers on BSE were Torrent Pharmaceuticals Ltd. (2410.00, -6.65%), VIP Industries Ltd. (205.00, -4.78%) and Alkem Laboratories Ltd. (2300.00, -4.64%).
CCL Products India Ltd. (182.00, 3.70%) was trading at 21.3 times of weekly average. MMTC Ltd. (15.10, 9.03%) and Meghmani Organics Ltd. (49.70, 10.44%) were trading with volumes 14.1 and 11.6 times weekly average respectively on BSE at the time of posting this article.
BSE 500: highs, lows and moving averages
4 stocks made 52 week highs, while 13 stocks hit their 52 week lows.
Stocks touching their year highs included - Bayer Cropscience Ltd. (5296.00, 6.16%), Coromandel International Ltd. (660.00, 1.50%) and Dhanuka Agritech Ltd. (569.90, 14.93%).
Stocks making new 52 weeks lows included - Bajaj Finance Ltd. (1934.40, 5.76%) and Bajaj Finserv Ltd. (4251.00, 3.75%).
6 stocks climbed above their 200 day SMA including Shipping Corporation of India Ltd. (48.10, 12.25%) and ITI Ltd. (82.65, 2.54%). 6 stocks slipped below their 200 SMA including JK Cement Ltd. (1122.00, -3.86%) and AIA Engineering Ltd. (1593.00, -3.29%).
