• Nifty IT is up by over 3% led by strong gains in Wipro, Tech Mahindra, Larsen & Toubro, and MindTree.

• Ingersoll-Rand, Elgi Equipments and Bharat Rasayan are trading with volume at least 10 times the weekly average.

• Mahindra & Mahindra hits a 52-week high as the automobile manufacturer announces a 2% price increase for its passenger and commercial vehicles.

• Biocon is rising as ADQ an Abu Dhabi holding company invests Rs 555 crore for a 1.8% stake in the biotechnology company's subsidiary Biocon Biologics.

• Honeywell Automation India hits a new lifetime high. Sobha, Fortis Healthcare, and Graphite India hit new 52-week highs.

• Tata Consultancy Services is rising ahead of its Q3 earnings call later today. Its stock price is up by 7% in the week.

• ICICI Securities expects Bharti Airtel to add 75 lakh subscribers and Vodafone Idea to lose 40 lakh subscribers in Q3FY21 in a report on the telecom sector.

• India's GDP is estimated to contract by 7.7% in FY21 with marginal growth in the December quarter according to data from the Central Statistics Office.

• Markets are up today morning. Nifty 50 was trading at 14246.00 (108.7, 0.8%) , BSE Sensex was trading at 48454.32 (361, 0.8%) while the broader Nifty 500 was trading at 11853.40 (87.3, 0.7%)

• Market breadth is ticking up strongly. Of the 1613 stocks traded today, 1265 were in the positive territory and 287 were negative.

Riding High:

Largecap and midcap gainers today include PI Industries Ltd. (2327.25, 6.38%), Tech Mahindra Ltd. (1054.65, 6.02%) and Maruti Suzuki India Ltd. (8019.90, 6.00%).

Downers:

Largecap and midcap losers today include Adani Green Energy Ltd. (1015.00, -4.52%), Vedanta Ltd. (178.75, -3.64%) and IDFC First Bank Ltd. (44.40, -3.06%).

Volume Rockets

28 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included Jammu & Kashmir Bank Ltd. (26.55, 9.94%), TV Today Network Ltd. (239.10, 6.20%) and Maruti Suzuki India Ltd. (8019.90, 6.00%).

Top high volume losers on BSE were Suzlon Energy Ltd. (7.65, -4.97%) and Orient Electric Ltd. (235.15, -2.04%).

VST Industries Ltd. (3658.20, 0.47%) was trading at 7.9 times of weekly average. EPL Ltd. (269.00, 4.47%) and Triveni Turbine Ltd. (89.10, 5.95%) were trading with volumes 7.1 and 7.0 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

76 stocks overperformed with 52 week highs,

Stocks touching their year highs included - Adani Ports & Special Economic Zone Ltd. (517.85, 0.78%), Ajanta Pharma Ltd. (1787.80, 1.17%) and Amara Raja Batteries Ltd. (1002.60, 1.54%).

1 stock climbed above their 200 day SMA including Rajesh Exports Ltd. (485.85, 0.75%).