Markets closed higher. Nifty 50 closed at 14784.15 (255, 1.8%) , BSE Sensex closed at 49849.84 (749.9, 1.5%) while the broader Nifty 500 closed at 12385.20 (203.8, 1.7%)
Market breadth is highly positive. Of the 1743 stocks traded today, 1132 were in the positive territory and 555 were negative.
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Commercial vehicle maker Ashok Leyland's February sales stood at 13,703 units, a 19% rise on a YoY basis, with domestic sales up by 20%.
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Esab India, AIA Engineering, Coromandel International, and Tube Investments of India are trading with delivery volumes 80% of total trading volume.
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Mahindra & Mahindra reports a 41% YoY growth in domestic sales of passenger vehicles at 15,391 units. Its farm equipment division reported a 25% rise in total sales, led by strong exports.
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Network 18 Media & Investments, Blue Star, Hathway Cable & Datacom, and EID Parry are trading with three times the average weekly trading volume.
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Passenger vehicles market leader Maruti Suzuki India's total sales for February stood at 1.6 lakh units, a 12% YoY growth, with domestic sales up by 8%.
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Covid-19 vaccine maker AstraZeneca Pharma trims its 7.7% stake in biotechnology company Moderna for nearly $1 billion (~ Rs 7,400 crore).
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Bajaj Auto reports a 6% YoY increase in total sales for the month of February at 3.7 lakh units, with two-wheeler sales up by 7% YoY and commercial vehicle sales down by 5% YoY.
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Vedanta Resources (VRL), the parent of mining company Vedanta raises $1.2 billion (~ Rs 8,840 crore) through a bond offering. VRL will use the proceeds to acquire Vedanta's equity shares and reduce existing debt.
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ICICI Securities maintains a 'Reduce' rating on Amara Raja Batteries citing the threat of electric vehicles to the lead-acid business of the company.
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Reliance Industries increases its stake to 54.4% in the American technology company skyTran Inc for $26.7 million (~ Rs 196 crore).
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Markets are up today morning. Nifty 50 was trading at 14680.80 (151.7, 1.0%) , BSE Sensex was trading at 49766.66 (666.7, 1.4%) while the broader Nifty 500 was trading at 12296.80 (115.4, 1.0%)
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Market breadth is highly positive. Of the 1608 stocks traded today, 1251 showed gains, and 291 showed losses.
Riding High:
Largecap and midcap gainers today include Indian Railway Catering & Tourism Corporation Ltd. (1938.45, 10.16%), Motherson Sumi Systems Ltd. (231.55, 8.20%) and Zee Entertainment Enterprises Ltd. (216.85, 7.89%).
Downers:
Largecap and midcap losers today include Bharti Airtel Ltd. (532.20, -4.33%), Avenue Supermarts Ltd. (2908.45, -2.86%) and Endurance Technologies Ltd. (1404.85, -2.59%).
Volume Shockers
34 stocks in BSE 500 are trading on high volumes today.
Top high volume gainers on BSE included Deepak Fertilisers & Petrochemicals Corporation Ltd. (212.35, 14.94%), NBCC (India) Ltd. (49.00, 14.35%) and Deepak Nitrite Ltd. (1563.75, 14.25%).
Top high volume losers on BSE were Blue Star Ltd. (860.95, -1.07%), Responsive Industries Ltd. (174.10, -0.85%) and VST Industries Ltd. (3430.55, -0.01%).
Network 18 Media & Investments Ltd. (42.70, 13.87%) was trading at 15.9 times of weekly average. Hathway Cable & Datacom Ltd. (31.00, 4.20%) and Rites Ltd. (258.95, 5.74%) were trading with volumes 12.3 and 8.2 times weekly average respectively on BSE at the time of posting this article.
BSE 500: highs, lows and moving averages
54 stocks overperformed with 52 week highs,
Stocks touching their year highs included - 3M India Ltd. (24148.65, 5.76%), Aegis Logistics Ltd. (322.20, 4.44%) and Astral Poly Technik Ltd. (2196.90, 3.25%).
11 stocks climbed above their 200 day SMA including TV18 Broadcast Ltd. (32.50, 11.88%) and Gujarat Alkalies & Chemicals Ltd. (341.80, 9.13%). 3 stocks slipped below their 200 SMA including Himadri Speciality Chemical Ltd. (45.65, -12.72%) and IRB Infrastructure Developers Ltd. (107.10, -0.88%).
