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Axis Direct is a Sell on Astral Poly, citing low expectations for pipe sales considering the slowdown in residential real estate. Axis analysts expect this slowdown to continue into Q2.
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Goldman Sachs Singapore has sold 756,286 shares in Tech Mahindra via a block deal.
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Upbeat trading today. Nifty 50 closed at 11206.80 (105.2, 1.0%) , BSE Sensex closed at 38025.45 (362.1, 1.0%) while the broader Nifty 500 closed at 9175.25 (86.5, 1.0%)
Market breadth is in the green. Of the 1662 stocks traded today, 953 were gainers and 645 were losers
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BP Wealth is a BUY on Neuland Labs, citing margin improvement and strong order book.
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Nifty Bank index is up, with major bank stocks rising after RBI policy moves.
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Stock markets are sharply up today on a series of RBI announcements. The Governor Shaktikanta Das announced a Rs 10,000 crore in additional liquidity facility for NBFCs and HFCs, a new resolution window for corporate and individual borrowers, and changes to MSME restructuring. The RBI MPC left rates unchanged.
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Birlasoft, Pi Industries, Granules India hit fresh 52 week highs today.
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Indoco Remedies is rising today on receiving approval of its abbreviated new drug application (ANDA), for a schizophrenia and bipolar treatment drug.
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As the RBI's Monetary Policy Committee meets today, analysts are expecting an additional rate cut of 25 bps in the repo rate.
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Markets are up today morning. Nifty 50 was trading at 11160.55 (58.9, 0.5%) , BSE Sensex was trading at 37917.59 (254.3, 0.7%) while the broader Nifty 500 was trading at 9138.50 (49.8, 0.6%). Market breadth is highly positive. Of the 1494 stocks traded today, 978 were on the uptrend, and 412 went down.
Riding High:
Largecap and midcap gainers today include Astral Poly Technik Ltd. (1081.10, 13.78%), Tata Consumer Products Ltd. (484.75, 8.30%) and Hindustan Zinc Ltd. (235.00, 7.43%).
Downers:
Largecap and midcap losers today include Muthoot Finance Ltd. (1192.50, -5.20%), Bata India Ltd. (1264.20, -4.10%) and Bandhan Bank Ltd. (300.05, -3.51%).
Volume Shockers
29 stocks in BSE 500 are trading on high volumes today.
Top high volume gainers on BSE included Birlasoft Ltd. (143.45, 14.67%), Astral Poly Technik Ltd. (1081.10, 13.78%) and S H Kelkar & Company Ltd. (81.85, 10.24%).
Top high volume losers on BSE were Muthoot Finance Ltd. (1192.50, -5.20%) and Schaeffler India Ltd. (3573.10, -0.58%).
Jamna Auto Industries Ltd. (35.05, 10.05%) was trading at 14.3 times of weekly average. AIA Engineering Ltd. (1711.60, 3.50%) and Blue Star Ltd. (506.30, 4.67%) were trading with volumes 10.6 and 8.8 times weekly average respectively on BSE at the time of posting this article.
BSE 500: highs, lows and moving averages
24 stocks took off, crossing 52 week highs,
Stocks touching their year highs included - Alembic Pharmaceuticals Ltd. (1081.70, 7.67%), Aurobindo Pharma Ltd. (909.75, 5.70%) and Balkrishna Industries Ltd. (1357.05, 1.75%).
25 stocks climbed above their 200 day SMA including Astral Poly Technik Ltd. (1081.10, 13.78%) and Jamna Auto Industries Ltd. (35.05, 10.05%). 4 stocks slipped below their 200 SMA including Nilkamal Ltd. (1216.70, -0.57%) and Voltas Ltd. (603.00, -0.36%).
