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.
JK Cement, Infibeam Avenues, V Mart Retail, and Alkem Laboratories are trading with rising delivery volume compared to the previous day.
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.
Quess Corp, DB Corp, Jammu & Kashmir Bank, and Jagran Prakashan are trading with volume at least 8 times the weekly average.
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.
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.
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.
Narayana Hrudayalaya hits a lifetime high. Titan Company, Jindal Steel & Power, and KEC International hit fresh 52-week highs.
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.
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.
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.
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.
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%.
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%)
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%).
