Trendlyne Marketwatch    
22 Jan 2021
Markets close lower, Indigo Paints IPO oversubscribed by 60 times on the final day

Markets fell in today's trading. Nifty 50 closed at 14366.80 (-223.6, -1.5%) , BSE Sensex closed at 48878.54 (-746.2, -1.5%) while the broader Nifty 500 closed at 11854.50 (-161.5, -1.3%)

Market breadth is sharply down. Of the 1706 stocks traded today, 439 were on the uptrend, and 1221 went down.

  • Home First Finance Company's Rs 1,150 crore public offering is oversubscribed 1.8 times with the retail portion booked 2.7 times on day 2 of the bidding.

  • Astral Poly Technik, Biocon, Cyient, and Bajaj Auto are trading with volume at least 6 times the weekly average.

  • Indigo Paints' Rs 1,100 crore IPO is 60 times oversubscribed on the final bidding day.

  • Pawan Munjal, chairman of two-wheeler market leader Hero MotoCorp says the current demand momentum will carry on till FY22, especially in rural areas.

  • Axis Direct maintains a 'Sell' on Bajaj Finance, following the NBFC's 29% YoY fall in net profit in the December quarter. The brokerage has put a target price 12% above the stock price.

  • Goldman Sachs India cuts its stake in Navin Flourine International, now holding a 1.6% stake valued at Rs 212 crore in the December quarter.

  • The Government of Singapore reduces its stake in Bharti Airtel and Godrej Properties in Q3FY21.

  • Bajaj Auto reports a 23% YoY rise in net profits for the December quarter at Rs 1,556 crore, with revenue increasing by 17% annually to Rs 8,910 crore.

  • Sunil Singhania's Abakkus Fund increases its stake in IIFL Securities to 3.3% and acquires a 1.3% stake in Saregama India.

  • Paints market leader Asian Paints reports quarterly net profits of Rs 1,238 crore, a 62% jump on a YoY basis, with revenue rising by 25% YoY to Rs 5,490 crore.

  • Nifty 50 was trading at 14540.70 (-49.7, -0.3%) , BSE Sensex was trading at 49527.40 (-97.4, -0.2%) while the broader Nifty 500 was trading at 11984.85 (-31.1, -0.3%)

  • Market breadth is in the green. Of the 1566 stocks traded today, 799 were in the positive territory and 694 were negative.

Riding High:

Largecap and midcap gainers today include Bajaj Auto Ltd. (4119.25, 11.23%), Avenue Supermarts Ltd. (2866.15, 5.41%) and SBI Cards and Payment Services Ltd. (1030.00, 5.14%).

Downers:

Largecap and midcap losers today include Biocon Ltd. (393.50, -10.96%), Steel Authority of India (SAIL) Ltd. (58.35, -10.02%) and Bandhan Bank Ltd. (314.95, -7.56%).

Volume Rockets

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

Top high volume gainers on BSE included Cyient Ltd. (609.35, 20.00%), JK Tyre & Industries Ltd. (138.80, 19.97%) and Bajaj Auto Ltd. (4119.25, 11.23%).

Top high volume losers on BSE were Biocon Ltd. (393.50, -10.96%), SRF Ltd. (5413.65, -6.22%) and Symphony Ltd. (990.00, -4.89%).

VST Industries Ltd. (3643.40, 0.07%) was trading at 6.7 times of weekly average. Astral Poly Technik Ltd. (1666.15, -1.87%) and NOCIL Ltd. (149.20, 2.54%) were trading with volumes 6.4 and 5.9 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

30 stocks overperformed with 52 week highs,

Stocks touching their year highs included - Adani Transmission Ltd. (479.35, 1.63%), Akzo Nobel India Ltd. (2489.00, 2.54%) and Apollo Tyres Ltd. (232.95, 7.20%).

3 stocks climbed above their 200 day SMA including Rajesh Exports Ltd. (484.00, 1.02%) and Himadri Speciality Chemical Ltd. (47.45, 0.74%). 14 stocks slipped below their 200 SMA including Biocon Ltd. (393.50, -10.96%) and Swan Energy Ltd. (125.35, -3.69%).

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