LIVE: Reliance in profit despite petrochem in red, US GDP falls 9.2%

Reliance Industries' Q1 stayed in the green in profits despite a sharp fall in petrochemicals revenue. Quarter operating revenue overall fell below 100,000 crore for the first time in ten quarters. The company posted a 30.6% rise in profit overall YoY, from tax benefits, an exceptional gain on share divestment of Reliance BP mobility, and Jio's big jump in profits.
LIC buys shares in Bata India via an SAST transaction.
US GDP fell 9.5% in the second quarter of 2021, a record drop that translates into an annualized fall of 32.9%.
Indian markets closed lower today after a positive start. Nifty 50 closed at 11095.15 (-107.7, -1.0%) , BSE Sensex closed at 37736.07 (-335.1, -0.9%) while the broader Nifty 500 closed at 9028.20 (-67.9, -0.8%). Market breadth is in the red. Of the 1666 stocks traded today, 562 were on the uptrend, and 1026 went down.
ICRA confirms Indigo Air's long term credit rating at A plus with negative outlook. The company's strong liquidity profile, the ratings agency said, is an important factor in its favor.
A 5% decline in HDFC's net profits in Q1FY21 has pushed the company's share price down today. HDFC said that 22.6% of individual loans were under Covid-19 moratorium.
Manappuram Finance is the top loser in the markets today after its Q1FY21 results.
Fresh pledges created by Max Financial promoters.
HDFC Securities is a SELL on Nestle, citing expensive valuations and lower than expected performance in the June quarter.
Bharti Airtel reported flat revenues in Q1FY21, which may be relatively good news for the telecom provider - the company had raised tariffs in December, and was in danger of customers downgrading their plans after the pandemic hit.
Tech and pharma stocks, including Dr. Reddy's which declared results yesterday, hit fresh year highs.
Markets are gaining in trading. Nifty 50 was trading at 11273.75 (70.9, 0.6%) , BSE Sensex was trading at 38232.04 (160.9, 0.4%) while the broader Nifty 500 was trading at 9146.05 (50.0, 0.6%). Market breadth is overwhelmingly positive. Of the 1467 stocks traded today, 932 were on the uptrend, and 444 went down.

Riding High:

Largecap and midcap gainers today include Divi's Laboratories Ltd. (2561.00, 5.67%), Future Retail Ltd. (115.95, 4.98%) and Apollo Hospitals Enterprise Ltd. (1720.00, 4.79%).

Downers:

Largecap and midcap losers today include Bharat Petroleum Corporation Ltd. (418.00, -7.89%), Indiabulls Housing Finance Ltd. (199.50, -6.73%) and Shriram Transport Finance Company Ltd. (681.30, -5.97%).

Crowd Puller Stocks

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

Top high volume gainers on BSE included Star Cement Ltd. (95.55, 13.21%), EIH Ltd. (65.65, 9.97%) and Shoppers Stop Ltd. (162.35, 8.02%).

Top high volume losers on BSE were Chambal Fertilisers & Chemicals Ltd. (156.35, -5.01%), SRF Ltd. (3750.00, -4.70%) and Mahindra Logistics Ltd. (276.35, -4.34%).

Nilkamal Ltd. (1274.45, 7.01%) was trading at 30.7 times of weekly average. TVS Srichakra Ltd. (1491.10, 3.37%) and Central Bank of India (18.45, 5.43%) were trading with volumes 14.2 and 10.4 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

16 stocks hit their 52 week highs, while 1 stock hit their 52 week lows.

Stocks touching their year highs included - Cipla Ltd. (686.70, 0.80%), Divi's Laboratories Ltd. (2561.00, 5.67%) and Dr. Reddy's Laboratories Ltd. (4500.00, 4.60%).

Stock making new 52 weeks lows included - Rajesh Exports Ltd. (458.15, -1.07%).

21 stocks climbed above their 200 day SMA including Star Cement Ltd. (95.55, 13.21%) and Eris Lifesciences Ltd. (477.50, 7.35%). 18 stocks slipped below their 200 SMA including Bharat Petroleum Corporation Ltd. (418.00, -7.89%) and Au Small Finance Bank Ltd. (709.10, -5.00%).