Markets close lower, Stove Kraft's IPO 2 times subscribed on Day 2

Market sinks in today's trading. Nifty 50 closed at 13964.25 (-274.7, -1.9%) , BSE Sensex closed at 47409.93 (-937.7, -1.9%) while the broader Nifty 500 closed at 11545.00 (-198.7, -1.7%)

Market breadth is overwhelmingly negative. Of the 1696 stocks traded today, 521 showed gains, and 1125 showed losses.

Nifty50 stocks trading higher despite the market fall - Wipro, Tech Mahindra, SBI Life Insurance Company, ITC, and HDFC Life Insurance Company.
Stove Kraft's Rs 412 crore IPO is subscribed by 2 times on the second day of the bidding process.
Nilkamal, Chennai Petroleum Corporation, and Gulf Oil Lubricants India are trading with volume at least 4.5 times the weekly average.
Kotak Mahindra Bank reports a 16% YoY increase in net profits to Rs 1,854 crore with net interest income rising by 17% YoY to Rs 4,007 crore.
Adani Ports & Special Economic Zone proposes a tender offer to raise $500 million (~ Rs 3,600 crore) via overseas bonds.
Axis Direct ups its recommendation to 'Buy' from 'Hold' on Birla Corporation as the cement company will benefit from rising demand in Q4.
Tejas Networks signs a multi-year contract with Asia Consultancy Group (ACG) to implement a carrier-to-carrier network in Afghanistan.
Can Fin Homes reports net profits for Q3 at Rs 132 crore, a 24% rise against the year-ago period with total income at Rs 502.7 crore, a 2.7% drop.
HDFC Securities maintains an 'Add' rating on Reliance Industries with a target price of Rs 2,330 following the conglomerate's Q3 results.
Larsen & Toubro reports a 5% YoY gain in Q3 net profits to Rs 2,466 crore, with revenue declining by 2% to Rs 35,596 crore. The construction company's orders in Q3 were Rs 73,233 crore, a 76% YoY rise.
Market sinks in morning trading. Nifty 50 was trading at 14159.65 (-79.3, -0.6%) , BSE Sensex was trading at 48091.61 (-256.0, -0.5%) while the broader Nifty 500 was trading at 11678.35 (-65.4, -0.6%)
Market breadth is highly negative. Of the 1551 stocks traded today, 455 were in the positive territory and 1020 were negative.

Riding High:

Largecap and midcap gainers today include L&T Technology Services Ltd. (2471.70, 5.24%), Jubilant Life Sciences Ltd. (927.45, 4.40%) and Gujarat Gas Ltd. (373.55, 4.33%).

Downers:

Largecap and midcap losers today include Kansai Nerolac Paints Ltd. (574.75, -6.18%), Info Edge (India) Ltd. (4707.65, -5.58%) and SBI Cards and Payment Services Ltd. (970.00, -5.04%).

Volume Rockets

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

Top high volume gainers on BSE included MMTC Ltd. (28.90, 7.43%), Hindustan Copper Ltd. (58.50, 6.75%) and AstraZeneca Pharma India Ltd. (3757.75, 4.62%).

Top high volume losers on BSE were Chennai Petroleum Corporation Ltd. (95.80, -19.90%), ICICI Securities Ltd. (413.75, -7.18%) and Kansai Nerolac Paints Ltd. (574.75, -6.18%).

Nilkamal Ltd. (1467.40, 0.21%) was trading at 7.5 times of weekly average. Gulf Oil Lubricants India Ltd. (692.40, -3.09%) and Avanti Feeds Ltd. (513.15, 2.44%) were trading with volumes 6.2 and 4.7 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

9 stocks overperformed with 52 week highs,

Stocks touching their year highs included - Apollo Hospitals Enterprise Ltd. (2600.40, -3.22%), Bajaj Auto Ltd. (4146.35, -0.54%) and Century Plyboards (India) Ltd. (265.75, -1.01%).

4 stocks climbed above their 200 day SMA including AstraZeneca Pharma India Ltd. (3757.75, 4.62%) and Rajesh Exports Ltd. (482.05, 0.66%). 12 stocks slipped below their 200 SMA including ICICI Securities Ltd. (413.75, -7.18%) and Sanofi India Ltd. (7987.95, -3.75%).