Upbeat trading today. Nifty 50 closed at 12849.25 (77.6, 0.6%) , BSE Sensex closed at 43882.25 (282.3, 0.7%) while the broader Nifty 500 closed at 10555.15 (77.7, 0.7%)
Market breadth is in the green. Of the 1698 stocks traded today, 928 were in the positive territory and 670 were negative.
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JK Cement, Infibeam Avenues, V Mart Retail, and Alkem Laboratories are trading with rising delivery volume compared to the previous day.
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The promoter group of TeamLease Services disposes 40,000 shares, representing a 0.2% stake for Rs. 9.5 crores via an off-market sale.
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Quess Corp, DB Corp, Jammu & Kashmir Bank, and Jagran Prakashan are trading with volume at least 8 times the weekly average.
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HFCL's promoter group acquires 10 lakh shares valued at Rs. 1.8 crores via a market purchase. Since the beginning of the month, the promoter group has acquired 1.4 crore shares.
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HDFC Securities' top picks in the banking space remain large private banks with defensive funding plays citing ICICI Bank and Axis Bank. In the mid-tier category, the brokerage picks City Union Bank.
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Vodafone Idea is rising as the telecom company receives Rs. 3,760 crores from the 11.1% stake it owns in Indus Towers which merged with Bharti Infratel.
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Narayana Hrudayalaya hits a lifetime high. Titan Company, Jindal Steel & Power, and KEC International hit fresh 52-week highs.
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Gland Pharma lists at Rs. 1,710, a premium of 14% against the issue price of Rs. 1,500. The largest pharma-IPO comprised a fresh issue and an OFS of Rs. 6,480 crores.
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HDFC Mutual Fund disposes over 2% stake in Aarti Industries, selling 67.7 lakh shares via a market sale. The speciality chemicals company's price is up by 14.7% since the beginning of the month.
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ICICI Securities maintains a 'Buy' rating on Wipro following its virtual analysts' day citing three key risks, over-centralization, margin sustainability, and exiting talent impacting growth. The brokerage maintains a target price 26% over the IT company's trading price.
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Godfrey Phillips India's majority promoter holding a 29.3% stake acquires 4,454 shares in the company at Rs. 38.9 lakhs via two market purchases. Since September, promoters have reacquired 1.7 lakh shares via market purchases.
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Life Insurance Corporation (LIC) acquires 52.3 lakh shares in Tata Chemicals via a market purchase, taking its holding in the company to 7.1%.
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Nifty 50 was trading at 12832.70 (61, 0.5%) , BSE Sensex was trading at 43771.87 (171.9, 0.4%) while the broader Nifty 500 was trading at 10542.75 (65.3, 0.6%)
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Market breadth is overwhelmingly positive. Of the 1506 stocks traded today, 1151 showed gains, and 252 showed losses.
Riding High:
Largecap and midcap gainers today include Bharti Infratel Ltd. (223.05, 19.98%), Bajaj Finserv Ltd. (8546.80, 9.25%) and Vodafone Idea Ltd. (10.00, 8.11%).
Downers:
Largecap and midcap losers today include City Union Bank Ltd. (183.15, -4.66%), Ashok Leyland Ltd. (91.10, -3.90%) and Reliance Industries Ltd. (1899.15, -3.75%).
Crowd Puller Stocks
23 stocks in BSE 500 are trading on high volumes today.
Top high volume gainers on BSE included Wockhardt Ltd. (393.30, 20.00%), Bharti Infratel Ltd. (223.05, 19.98%) and Jammu & Kashmir Bank Ltd. (20.50, 19.88%).
Top high volume loser on BSE was Orient Refractories Ltd. (219.05, -1.28%).
Quess Corp Ltd. (462.85, 13.68%) was trading at 32.3 times of weekly average. Jagran Prakashan Ltd. (40.70, 8.68%) and DB Corp Ltd. (80.80, 3.99%) were trading with volumes 21.2 and 18.6 times weekly average respectively on BSE at the time of posting this article.
BSE 500: highs, lows and moving averages
23 stocks overperformed with 52 week highs,
Stocks touching their year highs included - Amara Raja Batteries Ltd. (859.00, 2.46%), Grasim Industries Ltd. (859.30, 2.69%) and Info Edge (India) Ltd. (3999.00, 4.30%).
18 stocks climbed above their 200 day SMA including Bharti Infratel Ltd. (223.05, 19.98%) and Jammu & Kashmir Bank Ltd. (20.50, 19.88%). 9 stocks slipped below their 200 SMA including PVR Ltd. (1227.50, -4.63%) and South Indian Bank Ltd. (6.80, -2.16%).
