Nifty 50 closed at 15317.95 (3.3, 0.0%) , BSE Sensex closed at 52104.17 (-50.0, -0.1%) while the broader Nifty 500 closed at 12651.05 (19, 0.2%)
Market breadth is in the red. Of the 1695 stocks traded today, 680 were on the uptick, and 952 were down.
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Tata Communication, Mahindra CIE Automotive, Central Bank of India, and Indian Overseas Bank are trading in the green with 7 times the average weekly trading volume.
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Railtel Corporation of India's Rs 820 crore initial public offering (IPO) receives 35% subscription in the first 40 minutes of the bidding. The state-run telecom company raised Rs 243 crore from anchor investors on February 15.
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Tata Communications is rising as the telecom company announces a partnership with Google Cloud to increase cloud adoption among domestic companies.
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HDFC Securities preferred picks in the IT sector are Infosys, HCL Technologies, Persistent Systems, Mphasis and Sonata Software.
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Apollo Hospitals Enterprises reports net profits for Q3 at Rs 134.1 crore, a 49% YoY jump and total revenue of Rs 2,759.8 crore, a fall of 5.1% against the year-ago period.
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Jet Airways reports a standalone net loss of Rs 2,841 crore and a total income of Rs 354 crore for Q3. The airline has been grounded since April 2019.
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Axis Direct signals a 'Hold' rating on Embassy Office Parks Real Estate Investment Trust (REIT) with a target price of Rs 375.
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Malabar India Fund trims its stake in Affle by 2.25%, disposing 5.8 lakh shares. The mobile marketing company's stock has surged by 38% in two weeks.
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AstraZeneca Pharma India is rising as the pharmaceutical company's Covid-19 vaccine is approved by the World Health Organization for emergency use.
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Markets opened high. Nifty 50 was trading at 15420.50 (105.8, 0.7%) , BSE Sensex was trading at 52450.36 (296.2, 0.6%) while the broader Nifty 500 was trading at 12717.50 (85.5, 0.7%)
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Market breadth is highly positive. Of the 1587 stocks traded today, 1069 were gainers and 432 were losers.
Riding High:
Largecap and midcap gainers today include Bank of India (70.60, 19.97%), Indian Overseas Bank (13.10, 19.63%) and Adani Total Gas Ltd. (502.50, 17.70%).
Downers:
Largecap and midcap losers today include Info Edge (India) Ltd. (5100.00, -7.62%), Varun Beverages Ltd. (901.60, -4.59%) and Indian Hotels Company Ltd. (126.80, -3.90%).
Movers and Shakers
31 stocks in BSE 500 are trading on high volumes today.
Top high volume gainers on BSE included Bank of India (70.60, 19.97%), Bank of Maharashtra (19.05, 19.81%) and Central Bank of India (16.70, 19.71%).
Top high volume losers on BSE were Varun Beverages Ltd. (901.60, -4.59%), Metropolis Healthcare Ltd. (1935.45, -3.85%) and Engineers India Ltd. (71.30, -3.52%).
Tata Communications Ltd. (1051.50, 5.73%) was trading at 16.8 times of weekly average. Solar Industries India Ltd. (1294.00, 3.67%) and Mahindra CIE Automotive Ltd. (198.75, -1.44%) were trading with volumes 14.6 and 13.2 times weekly average respectively on BSE at the time of posting this article.
BSE 500: highs, lows and moving averages
65 stocks made 52 week highs,
Stocks touching their year highs included - ACC Ltd. (1820.00, 1.79%), Adani Ports & Special Economic Zone Ltd. (637.50, 1.55%) and Adani Transmission Ltd. (766.80, 12.29%).
7 stocks climbed above their 200 day SMA including Central Bank of India (16.70, 19.71%) and AstraZeneca Pharma India Ltd. (3768.85, 3.80%). 4 stocks slipped below their 200 SMA including Alembic Pharmaceuticals Ltd. (960.35, -1.83%) and IOL Chemicals and Pharmaceuticals Ltd. (652.10, -1.11%).
