Markets close lower, IDBI Bank, Jindal Steel gain

Nifty 50 closed at 10030.75 (-30.8, -0.3%) , BSE Sensex closed at 33980.70 (-128.8, -0.4%) while the broader Nifty 500 closed at 8189.90 (-13.1, -0.2%). Market breadth is neutral. Of the 1621 stocks traded today, 796 were on the uptick, and 771 were down.

  • BPCL says that the impact of Covid19 has been most significant for the company in the months of April and May 2020, due to lockdowns and sharp fall in demand. 

  • Markets continue with a topsy turvy trading day. CreditAccess Grameen and Jubilant Life are among top gainers.

  • HDFC Securities is a Sell on VGuard, citing volume decline and weak outlook.

  • Markets are volatile today, opening lower before gaining Nifty 50 was trading at 10037.70 (-23.9, -0.2%) , BSE Sensex was trading at 34050.55 (-59.0, -0.2%) while the broader Nifty 500 was trading at 8188.50 (-14.5, -0.2%). Market breadth is in the green. Of the 1474 stocks traded today, 857 were on the uptrend, and 558 went down.

Riding High:

Largecap and midcap gainers today include IDBI Bank Ltd. (35.05, 9.87%), InterGlobe Aviation Ltd. (1116.05, 9.07%) and Vedanta Ltd. (104.40, 7.96%).

Downers:

Largecap and midcap losers today include Cholamandalam Investment & Finance Company Ltd. (142.60, -8.50%), Bandhan Bank Ltd. (233.45, -6.71%) and RBL Bank Ltd. (122.40, -6.39%).

Crowd Puller Stocks

19 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included Inox Leisure Ltd. (269.35, 15.82%), Gulf Oil Lubricants India Ltd. (692.15, 14.02%) and Indian Overseas Bank (10.35, 10.11%).

Top high volume losers on BSE were Mahindra CIE Automotive Ltd. (102.85, -4.99%), Gayatri Projects Ltd. (14.70, -4.85%) and Future Retail Ltd. (96.10, -2.04%).

Crisil Ltd. (1466.80, 3.47%) was trading at 7.5 times of weekly average. Jubilant Life Sciences Ltd. (537.35, 4.99%) and Ratnamani Metals & Tubes Ltd. (913.20, -0.53%) were trading with volumes 7.1 and 6.7 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

4 stocks took off, crossing 52 week highs, while 1 stock hit their 52 week lows.

Stocks touching their year highs included - Aurobindo Pharma Ltd. (759.45, 1.21%), Cipla Ltd. (660.55, 3.02%) and Granules India Ltd. (184.70, 1.79%).

Stock making new 52 weeks lows included - Rajesh Exports Ltd. (479.20, -0.88%).

16 stocks climbed above their 200 day SMA including IDBI Bank Ltd. (35.05, 9.87%) and Bombay Burmah Trading Corporation Ltd. (1078.35, 8.19%). 11 stocks slipped below their 200 SMA including Shipping Corporation of India Ltd. (46.15, -2.53%) and Avanti Feeds Ltd. (438.45, -2.31%).

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