Markets close lower, Laxmi Organics' IPO subscribed 2.6 times on day 2

Nifty 50 closed at 14922.00 (-7.5, -0.1%) , BSE Sensex closed at 50363.96 (-31.1, -0.1%) while the broader Nifty 500 closed at 12519.35 (9.2, 0.1%)

Market breadth is in the red. Of the 1724 stocks traded today, 777 showed gains, and 879 showed losses.

Laxmi Organics' Rs 600 crore IPO is subscribed 2.6 times on day two of the bidding process.
Craftsman Automation's Rs 820 crore IPO is 89% subscribed on day two of the bidding process.
Tata Communication, Zensar Technologies, Bliss GVS Pharma, and Firstsource Solutions are trading with four times the average weekly trading volume.
Aarti Drugs is rising as the pharmaceutical company's board will meet on March 19 to consider a buyback proposal.
Tata Communications is falling as the government will sell its 16.1% stake in the telecom company at a floor price of Rs 1,161 per share.
Edelweiss maintains a 'Buy' on Brigade Enterprises with a target price of Rs 459 on the real estate company.
Life Insurance Corporation (LIC) of India sells 93.7 lakh shares in Shipping Corporation of India, decreasing its stake in the shipping company by 2%.
Au Small Finance Bank raises Rs 625 crore via a QIP at an issue price of Rs 1,251 per share.
Kalyan Jewellers raises Rs 352 crore from anchor investors at Rs 87 per share ahead of its Rs 1,175 crore IPO.
Nifty 50 was trading at 14978.40 (48.9, 0.3%) , BSE Sensex was trading at 50620.13 (225.1, 0.5%) while the broader Nifty 500 was trading at 12554.80 (44.7, 0.4%)
Market breadth is overwhelmingly positive. Of the 1599 stocks traded today, 1084 were in the positive territory and 437 were negative.

Riding High:

Largecap and midcap gainers today include General Insurance Corporation of India (225.75, 7.89%), MphasiS Ltd. (1730.80, 6.29%) and Hindustan Aeronautics Ltd. (1071.40, 5.45%).

Downers:

Largecap and midcap losers today include Tata Communications Ltd. (1214.80, -6.11%), IDBI Bank Ltd. (38.65, -4.21%) and Indian Overseas Bank (16.75, -2.90%).

Volume Rockets

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

Top high volume gainers on BSE included Zensar Technologies Ltd. (331.65, 13.97%), Firstsource Solutions Ltd. (116.15, 10.41%) and Navneet Education Ltd. (92.05, 8.10%).

Top high volume losers on BSE were Bliss GVS Pharma Ltd. (103.85, -19.99%), Tata Communications Ltd. (1214.80, -6.11%) and Nilkamal Ltd. (1844.25, -1.53%).

Hawkins Cookers Ltd. (5631.10, -0.05%) was trading at 21.3 times of weekly average. Dr. Lal Pathlabs Ltd. (2526.45, 4.84%) and Ratnamani Metals & Tubes Ltd. (2011.95, 1.65%) were trading with volumes 5.3 and 5.3 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

32 stocks hit their 52 week highs,

Stocks touching their year highs included - 3M India Ltd. (28029.30, 2.11%), Cyient Ltd. (702.05, 5.07%) and Deepak Fertilisers & Petrochemicals Corporation Ltd. (233.60, 0.34%).

6 stocks climbed above their 200 day SMA including Multi Commodity Exchange of India Ltd. (1580.90, 2.68%) and Manappuram Finance Ltd. (163.90, 2.18%). 4 stocks slipped below their 200 SMA including Bliss GVS Pharma Ltd. (103.85, -19.99%) and Dish TV India Ltd. (10.80, -1.37%).