Market breadth is highly positive. Of the 1644 stocks traded today, 1200 showed gains, and 412 showed losses.
Nirmal Bang - whose pharma analysis has been exceptional in the past year - goes negative on Pfizer, noting that the pandemic has hit the business hard.
Jubilant Life Sciences, which hit a fresh year high last week, is rising today and passed its second resistance.
Fitch Ratings has revised the outlook on ratings of six key PSUs, including Indian Oil Corp (IOC), NTPC and GAIL to 'negative' from 'stable', due to the downward impact of India's sovereign rating.
Hindalco says that it is exporting over 80% of its current production output as demand domestically has fallen.
Hikal Limited gets positive reviews from analysts post results, with buy calls from ICICI Securities and BP Wealth.
Paint companies are up today before results, with both Asian Paints and Berger Paints gaining.
BSE Limited, Nippon Life are among the top gainers today.
Markets are up in early trading. Nifty 50 was trading at 10359.60 (48.4, 0.5%) , BSE Sensex was trading at 35055.60 (144.3, 0.4%) while the broader Nifty 500 was trading at 8536.00 (49.6, 0.6%). Market breadth is highly positive. Of the 1521 stocks traded today, 1201 were gainers and 280 were losers.
Riding High:
Largecap and midcap gainers today include Bandhan Bank Ltd. (350.85, 12.72%), Dalmia Bharat Ltd. (665.70, 12.50%) and Trent Ltd. (657.35, 12.11%).
Downers:
Largecap and midcap losers today include Glenmark Pharmaceuticals Ltd. (485.00, -6.69%), Gujarat State Petronet Ltd. (216.55, -2.87%) and Muthoot Finance Ltd. (1128.30, -2.53%).
Volume Shockers
32 stocks in BSE 500 are trading on high volumes today.
Top high volume gainers on BSE included Chennai Petroleum Corporation Ltd. (87.05, 19.99%), IRB Infrastructure Developers Ltd. (91.15, 14.01%) and Cyient Ltd. (256.20, 13.99%).
Top high volume losers on BSE were Glenmark Pharmaceuticals Ltd. (485.00, -6.69%), DB Corp Ltd. (76.30, -2.99%) and Gulf Oil Lubricants India Ltd. (634.10, -1.01%).
Mahindra CIE Automotive Ltd. (118.80, 3.80%) was trading at 62.0 times of weekly average. VRL Logistics Ltd. (168.65, 9.02%) and Gujarat Pipavav Port Ltd. (76.45, 3.66%) were trading with volumes 10.6 and 7.3 times weekly average respectively on BSE at the time of posting this article.
BSE 500: highs, lows and moving averages
11 stocks took off, crossing 52 week highs,
Stocks touching their year highs included - Aurobindo Pharma Ltd. (804.30, 2.24%), FDC Ltd. (288.85, 5.86%) and Omaxe Ltd. (214.60, 0.92%).
32 stocks climbed above their 200 day SMA including IRB Infrastructure Developers Ltd. (91.15, 14.01%) and Nippon Life India Asset Management Ltd. (309.20, 8.99%). 2 stocks slipped below their 200 SMA including Persistent Systems Ltd. (616.20, 0.02%) and Pfizer Ltd. (3991.85, 0.37%).
