LIVE: Persistent Systems jumps on results, HDFCSec a buy on KEC

Edelweiss is a BUY on ICICI Bank with a target price of Rs. 525.
HDFC Securities is a BUY on KEC International, noting its well-diversified order book and signs of demand recovery.
Bajaj Auto gains on introducing new financing plans for customers on specific bike models.
Kotak Mahindra Bank is lower today on its June quarter results. The bank saw its provision and contingencies jump 3X to Rs 962 crore in the June quarter compared Rs 317 crore in the same period last year.
Indian markets closed lower today. Nifty 50 closed at 11124.50 (-69.7, -0.6%) , BSE Sensex closed at 37934.73 (-194.2, -0.5%) while the broader Nifty 500 closed at 9019.60 (-66.4, -0.7%)

Market breadth is highly negative. Of the 1679 stocks traded today, 404 were on the uptick, and 1220 were down
Infosys hits a week high today, as investors see the IT behemoth becoming a competitive challenger to TCS for the top spot.
Pune-headquartered Persistent Systems is the top gainer in markets today after it reported a 9.5% rise YoY and 3.1% increase QoQ in revenues, with an increase in multi-year deals.
Tech stocks are among those hitting new year highs today - including Persistent Tech and HCL.
Steel company APL Apollo Tubes sees positive breakouts. See APL's strengths here.
Aarti Drugs rises sharply on March quarter results.
Motilal Oswal is a BUY on ICICI Bank, citing a Q1 performance in line with expectations, and higher provisions from money gained from stake sales.
Investor Mohnish Pabrai has sold over 1.89 million shares (over 2.2%) in Kaveri Seed Company via an SAST transaction. And Rakesh Jhunjhunwala has sold 200,000 shares in Escorts via an SAST transaciton.
Large number of share sales from corporate insiders in HDFC Bank - including from Managing Director Aditya Puri, who sold over 7.4 million shares.
Markets are lower in early trading, as investors focus on the rise of Covid19 cases and tensions between US and China. Nifty 50 was trading at 11154.00 (-40.2, -0.4%) , BSE Sensex was trading at 37985.81 (-143.1, -0.4%) while the broader Nifty 500 was trading at 9041.25 (-44.7, -0.5%). Market breadth is moving down. Of the 1524 stocks traded today, 443 were in the positive territory and 1001 were negative.

Riding High:

Largecap and midcap gainers today include Larsen & Toubro Infotech Ltd. (2414.00, 6.14%), Jindal Steel & Power Ltd. (176.85, 5.42%) and Future Retail Ltd. (100.20, 4.98%).

Downers:

Largecap and midcap losers today include Mahindra & Mahindra Financial Services Ltd. (128.80, -9.01%), ICICI Bank Ltd. (358.60, -6.08%) and REC Ltd. (101.00, -5.12%).

Crowd Puller Stocks

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

Top high volume gainers on BSE included Persistent Systems Ltd. (855.70, 10.95%), GMM Pfaudler Ltd. (4206.00, 5.86%) and Inox Leisure Ltd. (253.70, 5.75%).

Top high volume losers on BSE were Sheela Foam Ltd. (1415.00, -4.14%), Vaibhav Global Ltd. (1323.70, -1.92%) and Century Plyboards (India) Ltd. (126.20, -0.32%).

TCI Express Ltd. (727.05, 5.74%) was trading at 10.7 times of weekly average. Phoenix Mills Ltd. (589.15, 0.17%) and Supreme Industries Ltd. (1173.00, 3.35%) were trading with volumes 8.2 and 7.8 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

15 stocks overperformed with 52 week highs,

Stocks touching their year highs included - Coromandel International Ltd. (786.20, -1.67%), Deepak Fertilisers & Petrochemicals Corporation Ltd. (145.00, 8.49%) and HCL Technologies Ltd. (701.10, 3.11%).

9 stocks climbed above their 200 day SMA including TCI Express Ltd. (727.05, 5.74%) and Asian Paints Ltd. (1778.15, 3.86%). 30 stocks slipped below their 200 SMA including GHCL Ltd. (142.90, -6.02%) and Heritage Foods Ltd. (293.70, -5.00%).