Market breadth is in the red. Of the 1657 stocks traded today, 615 were on the uptick, and 987 were down.
Alembic Pharma has touched its ten year high today.
Bajaj Consumer jumps by 20% on announcement of its June quarter results, showing a sharp increase in QoQ net profits.
SBI Cards says that Hardayal Prasad has resigned as MD and CEO of the company, and Ashwini Tewari has been appointed in his place.
IMF is warning that the rate of bankruptcy for SMEs may triple this year in the absence of sufficient government support. This is especially a challenge for developing countries like India, where the government has had limited fiscal room to provide a cushion to these businesses.
Larsen & Toubro (L&T;) receives a buy call from HDFC Securities, as analysts note a gradual recovery in industrials.
IPCA Lab, DCM Shriram among stocks rising sharply today.
Tech companies are hitting fresh year highs today as results for the June quarter come in.
In its earnings call, Infosys management noted that COVID has been a significant dampener on demand. "On quarter-on-quarter basis, constant currency, we had 2% de-growth," COO Pravin Rao noted, "Only about 10% - less than 10% could be attributed to supply issues, 90% was more demand issues."
Markets are volatile in early trading. Nifty 50 was trading at 10599.60 (-18.6, -0.2%) , BSE Sensex was trading at 36142.76 (91.0, 0.3%) while the broader Nifty 500 was trading at 8657.55 (-32.3, -0.4%). Market breadth is highly negative. Of the 1472 stocks traded today, 399 showed gains, and 1002 showed losses.
Riding High:
Largecap and midcap gainers today include Infosys Ltd. (911.00, 9.63%), Max Financial Services Ltd. (580.90, 8.63%) and Ipca Laboratories Ltd. (1778.55, 7.87%).
Downers:
Largecap and midcap losers today include Vodafone Idea Ltd. (7.85, -9.25%), Bharti Infratel Ltd. (190.00, -6.84%) and Avenue Supermarts Ltd. (2007.05, -6.49%).
Crowd Puller Stocks
23 stocks in BSE 500 are trading on high volumes today.
Top high volume gainers on BSE included Bajaj Consumer Care Ltd. (180.45, 19.98%), Infosys Ltd. (911.00, 9.63%) and Max Financial Services Ltd. (580.90, 8.63%).
Top high volume losers on BSE were Avenue Supermarts Ltd. (2007.05, -6.49%), India Tourism Development Corporation Ltd. (230.50, -3.35%) and Narayana Hrudayalaya Ltd. (274.85, -2.55%).
eClerx Services Ltd. (524.10, 4.76%) was trading at 7.9 times of weekly average. Greaves Cotton Ltd. (87.30, 4.61%) and Sonata Software Ltd. (243.65, 3.92%) were trading with volumes 7.3 and 5.9 times weekly average respectively on BSE at the time of posting this article.
BSE 500: highs, lows and moving averages
13 stocks overperformed with 52 week highs, while 2 stocks hit their 52 week lows.
Stocks touching their year highs included - Alembic Pharmaceuticals Ltd. (969.60, 2.51%), Britannia Industries Ltd. (3854.75, 3.53%) and Dhanuka Agritech Ltd. (811.05, 0.36%).
Stocks making new 52 weeks lows included - Omaxe Ltd. (65.10, -4.96%) and Rajesh Exports Ltd. (470.65, 0.62%).
11 stocks climbed above their 200 day SMA including DCM Shriram Ltd. (332.45, 4.81%) and eClerx Services Ltd. (524.10, 4.76%). 16 stocks slipped below their 200 SMA including Avenue Supermarts Ltd. (2007.05, -6.49%) and Aster DM Healthcare Ltd. (128.10, -2.70%).
