Upbeat trading today. Nifty 50 closed at 14665.00 (383.8, 2.7%) , BSE Sensex closed at 49797.72 (1197.1, 2.5%) while the broader Nifty 500 closed at 12065.15 (295, 2.5%)
Market breadth is in the green. Of the 1689 stocks traded today, 1052 were on the uptrend, and 578 went down.
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Housing Development Finance Corporation (HDFC) reports Q3 net profits of Rs 2,926 crore, a 65% decline on a YoY basis, and revenue of Rs 11,707 crore, a 42% fall YoY.
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Saregama Industries is rising as the music label announces a licensing deal with Josh, a short-video streaming application. Sunil Singhania's Abakkus Fund added a 1.3% stake in the company in Q3FY21.
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Finolex Industries, KNR Constructions, ITI, Ujjivan Small Finance Bank, and Maharashtra Scooters are trading in the green with 4 times the weekly average trading volume.
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Tata Motors reports a 94% YoY growth in domestic sales of passenger vehicles at 26,978 units in January 2021, and commercial vehicle sales at 32,909 units, a decline of 3% YoY.
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Nifty Bank and Nifty Financial Services trade higher with strong gains in HDFC, HDFC Bank, Mahindra & Mahindra Financial Services, Bandhan Bank, and State Bank of India.
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Indigo Paints lists at Rs 2,607, a 75% premium to its upper IPO price of Rs 1,490 per share. The Sequoia Capital-backed paints company's IPO was subscribed 117 times.
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HDFC Securities upgrades its rating on Shree Cements to 'Add' from 'Reduce' earlier with the cement company expected to deliver strong operating performance in Q4.
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Coal India reports a 4.1% YoY decline in coal production to 60.5 million tonnes (MT). Its stock price is down by 9.8% in one month.
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The promoters of Dhanuka Agritech will sell 83,000 representing 0.18% of the outstanding shares of the company.
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Nirmal Bang upgrades its rating on Tata Chemicals to 'Sell' from 'Accumulate' on account of demand returning to pre-Covid levels.
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Eicher Motors reports Royal Enfield sales for January 2021 at 68,887 units, an 8% increase from the year-ago period.
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Steel Authority of India (SAIL) reports Q3FY21 net profits at Rs 1,468 crore, against Rs 343.5 crore in the year-ago period, with revenue increasing by 20% YoY to Rs 19,835 crore.
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Upbeat trading today, as Nifty 50 was trading at 14593.00 (311.8, 2.2%) , BSE Sensex was trading at 49862.91 (1262.3, 2.6%) while the broader Nifty 500 was trading at 12016.70 (246.6, 2.1%)
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Market breadth is overwhelmingly positive. Of the 1558 stocks traded today, 1313 were on the uptick, and 193 were down.
Riding High:
Largecap and midcap gainers today include Tata Motors Limited (DVR) (131.80, 17.78%), Tata Motors Ltd. (321.50, 14.99%) and Ashok Leyland Ltd. (133.20, 9.14%).
Downers:
Largecap and midcap losers today include Coromandel International Ltd. (788.00, -5.23%), Varun Beverages Ltd. (870.45, -3.49%) and Steel Authority of India (SAIL) Ltd. (61.40, -3.46%).
Movers and Shakers
30 stocks in BSE 500 are trading on high volumes today.
Top high volume gainers on BSE included Tata Motors Limited (DVR) (131.80, 17.78%), Strides Pharma Science Ltd. (906.20, 13.33%) and KNR Constructions Ltd. (447.00, 10.42%).
Top high volume losers on BSE were Balrampur Chini Mills Ltd. (164.00, -7.40%), Garware Technical Fibres Ltd. (2198.40, -4.34%) and Procter & Gamble Hygiene & Healthcare Ltd. (11159.85, -1.21%).
Finolex Industries Ltd. (641.00, 8.13%) was trading at 19.0 times of weekly average. Triveni Turbine Ltd. (87.55, 3.49%) and Dhanuka Agritech Ltd. (740.50, 0.09%) were trading with volumes 18.1 and 9.7 times weekly average respectively on BSE at the time of posting this article.
BSE 500: highs, lows and moving averages
50 stocks hit their 52 week highs,
Stocks touching their year highs included - Adani Transmission Ltd. (491.85, 2.15%), Aegis Logistics Ltd. (281.65, -0.83%) and Ambuja Cements Ltd. (276.85, 6.15%).
14 stocks climbed above their 200 day SMA including 3M India Ltd. (20668.05, 8.35%) and Bandhan Bank Ltd. (339.85, 5.14%). 1 stock slipped below their 200 SMA including Dr. Reddy's Laboratories Ltd. (4479.95, 1.17%).
