Market breadth is in the green. Of the 1698 stocks traded today, 1056 were in the positive territory and 546 were negative.
Carborundum Universal, Persistent Systems, Schaeffler India, and Gujarat State Petronet are trading with rising delivery volume compared to the previous day.
CG Power and Industrial Solutions is rising as Tube Investments of India acquires a controlling stake of 50.6% in the company for Rs. 587.5 crores.
Nifty PSU Bank is up by over 2% with strong gains in Jammu & Kashmir Bank, Punjab National Bank, Canara Bank, and Bank of Maharashtra.
Greaves Cotton's promoter group acquires 13.6 lakh shares valued at Rs. 10.1 crores via three market purchases. Last week Small Cap World Fund decreased its stake in the company by 2.3% disposing 53.7 lakh shares.
Nifty Realty is rising led by strong gains in Godrej Properties, Indiabulls Real Estate, Phoenix Mills, and DLF.
Greaves Cotton, Mahanagar Gas, Varun Beverages, and Indraprastha Gas are trading with volume at least 5 times the average weekly volume.
Varun Beverages surges to a lifetime high. TVS Motor Company and Apollo Tyres are rising having hit fresh 52-week highs.
MindTree's promoter Krishnakumar Natarajan disposes over 5,600 shares valued at Rs. 79.9 lakhs via a market sale.
HDFC Mutual Fund disposes 23.5 lakh shares in Tube Investments of India for Rs. 197.6 crores, while Small Cap World Fund acquires 23.6 crore shares in the Murugappa Group company
ICICI Securities downgrades its rating from 'Buy' to 'Hold' on Timken India citing the industrial machinery company's high valuations. Its trailing 12-month PE is 45.2 against an average PE of 44.1.
Cadila Healthcare opens on the up as the pharmaceutical company expects to launch its COVID-19 vaccine by March 2021, with phase-3 trials in December.
Nifty 50 was trading at 12999.20 (12.2, 0.1%) , BSE Sensex was trading at 44247.60 (-12.1, -0.0%) while the broader Nifty 500 was trading at 10712.95 (38.9, 0.4%)
Market breadth is highly positive. Of the 1569 stocks traded today, 1060 showed gains, and 413 showed losses.
Riding High:
Largecap and midcap gainers today include Varun Beverages Ltd. (889.00, 14.33%), Aditya Birla Capital Ltd. (89.20, 10.81%) and Cummins India Ltd. (589.00, 10.37%).
Downers:
Largecap and midcap losers today include Future Retail Ltd. (82.65, -4.95%), Nestle India Ltd. (16949.75, -4.47%) and AIA Engineering Ltd. (1850.00, -3.36%).
Crowd Puller Stocks
98 stocks in BSE 500 are trading on high volumes today.
Top high volume gainers on BSE included Varun Beverages Ltd. (889.00, 14.33%), Mahanagar Gas Ltd. (1056.50, 13.72%) and Aditya Birla Capital Ltd. (89.20, 10.81%).
Top high volume losers on BSE were GE Power India Ltd. (272.40, -4.99%), Nestle India Ltd. (16949.75, -4.47%) and MOIL Ltd. (123.10, -3.87%).
Balmer Lawrie & Company Ltd. (107.75, 5.90%) was trading at 21.3 times of weekly average. TCNS Clothing Co. Ltd. (400.00, -0.05%) and Adani Green Energy Ltd. (1077.75, -2.42%) were trading with volumes 19.1 and 13.6 times weekly average respectively on BSE at the time of posting this article.
BSE 500: highs, lows and moving averages
36 stocks took off, crossing 52 week highs,
Stocks touching their year highs included - Adani Ports & Special Economic Zone Ltd. (412.90, 0.67%), Amara Raja Batteries Ltd. (930.00, 4.13%) and Apollo Tyres Ltd. (184.10, 5.26%).
20 stocks climbed above their 200 day SMA including Mahanagar Gas Ltd. (1056.50, 13.72%) and Greaves Cotton Ltd. (84.10, 9.93%). 6 stocks slipped below their 200 SMA including Bayer Cropscience Ltd. (5010.00, -2.64%) and CESC Ltd. (582.00, -2.50%).
