Indian markets slumped today. Nifty 50 closed at 11142.90 (-107.7, -1.0%) , BSE Sensex closed at 37739.17 (-295.0, -0.8%) while the broader Nifty 500 closed at 9204.15 (-108.9, -1.2%)
Market breadth is sharply down. Of the 1664 stocks traded today, 298 were on the uptrend, and 1300 went down.
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L&T Technology Services, Heritage Foods, SKF India, and Lakshmi Machine Works are falling with rising delivery volume.
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Tata Consultancy Services, HCL Technologies, MindTree, and Tech Mahindra are in the green as IT-stocks rise in a falling market.
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The promoter group of PG Electroplast has been steadily reacquiring the company's equity. Since the beginning of the month, 1.5 lakh shares of the company were reacquired.
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Gujarat Fluorochemicals, Max Financial Services, Kajaria Ceramics, and Canara Bank are trading with volume higher than the weekly average.
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Indiabulls Real Estate, Sunteck Realty, Phoenix Mills, Prestige Estates Projects, and Brigade Enterprises are falling as realty stocks trade in the red.
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CAMS is fully subscribed on day 2. The issue size of the IPO was 1.2 crore equity shares at a price band of Rs. 1,229 to Rs. 1,230 per share.
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Manappuram Finance, Muthoot Finance, Power Finance Corporation, and Bajaj Finance are trading in the red as NBFC-stocks fall.
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Axis Direct gives a 'Hold' rating to Birla Corporation and a 'Buy' rating to JK Lakshmi Cement citing legal uncertainty for the group company and the diversified market presence for the cement manufacturer.
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Vanguard Group's emerging markets fund picks up 30.4 lakh shares in Tata Motors and 12 lakh shares in Deepak Nitrite through bulk deals.
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GMM Pfaudler is falling fast as glass-lined equipment manufacturer's promoters look to sell 25.7 lakh shares via OFS at a floor price of Rs. 3,500 per share.
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Goldman Sachs picks up over 24 lakh shares in newly listed Route Mobile through three funds.
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Markets opened on a low note. Nifty 50 was trading at 11183.70 (-66.9, -0.6%) , BSE Sensex was trading at 37800.51 (-233.6, -0.6%) while the broader Nifty 500 was trading at 9193.45 (-119.6, -1.3%)
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Market breadth is highly negative. Of the 1525 stocks traded today, 127 showed gains, and 1335 showed losses.
Riding High:
Largecap and midcap gainers today include Honeywell Automation India Ltd. (32224.90, 3.20%), Aditya Birla Fashion and Retail Ltd. (130.45, 3.04%) and MindTree Ltd. (1302.00, 2.42%).
Downers:
Largecap and midcap losers today include Canara Bank (88.90, -7.06%), Mahindra & Mahindra Financial Services Ltd. (117.70, -6.51%) and Zee Entertainment Enterprises Ltd. (197.40, -6.31%).
Volume Shockers
7 stocks in BSE 500 are trading on high volumes today.
Top high volume gainers on BSE included Central Bank of India (17.15, 14.33%) and JM Financial Ltd. (80.90, 1.83%).
Top high volume losers on BSE were Canara Bank (88.90, -7.06%), Alkyl Amines Chemicals Ltd. (3064.90, -4.22%) and Kajaria Ceramics Ltd. (493.65, -1.56%).
Gujarat Fluorochemicals Ltd. (514.55, -1.29%) was trading at 8.6 times of weekly average. Max Financial Services Ltd. (596.90, -0.55%) was trading with volume 5.3 times weekly average on BSE at the time of posting this article.
BSE 500: highs, lows and moving averages
2 stocks overperformed with 52 week highs, while 2 stocks tanked below their 52 week lows.
Stocks touching their year highs included - Hexaware Technologies Ltd. (461.15, 0.85%) and Tata Consultancy Services Ltd. (2524.95, 2.42%).
Stocks making new 52 weeks lows included - Coal India Ltd. (119.45, -1.81%) and Mahindra & Mahindra Financial Services Ltd. (117.70, -6.51%).
5 stocks climbed above their 200 day SMA including Central Bank of India (17.15, 14.33%) and Great Eastern Shipping Company Ltd. (250.00, 2.19%). 81 stocks slipped below their 200 SMA including TV Today Network Ltd. (199.00, -7.91%) and India Tourism Development Corporation Ltd. (225.90, -7.66%).
