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%).