Trendlyne Marketwatch    
27 Jan 2021
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%).

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