Upbeat trading today. Nifty 50 closed at 14855.00 (347.7, 2.4%) , BSE Sensex closed at 50136.58 (1128.1, 2.3%) while the broader Nifty 500 closed at 12395.75 (246.9, 2.0%)
Market breadth is in the green. Of the 1780 stocks traded today, 950 were on the uptrend, and 791 went down.
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Nifty50 companies underperforming the rising market - Axis Bank, Mahindra & Mahindra, Hindalco Industries, and Bharti Airtel.
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Axis Direct initiates coverage on IT-services company Coforge signaling a 'Buy' rating with a target price at a 16% upside to its market price.
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MOIL is trading with 13 times the weekly average trading volume.eClerx Services, Lux Industries, and SKF India are trading with four times the weekly average trading volume.
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Nazara Technologies hits the lower circuit, down to Rs 1,580 since listing at Rs 1,990, an 80% premium to its issue price.
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Dr. Lal Pathlabs and Central Depository Services hit lifetime highs. Praj Industries and eClerx Services hit fresh 52-week highs.
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WABCO India's promoter ZF International UK cuts its stake by 24.1% selling 45.6 lakh shares for Rs 2,594 crore.
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ICICI Securities maintains a 'Buy' on electronics contract manufacturer Dixon Technologies with a target price of Rs 4,270, an 18% upside to the market price.
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Nazara Technologies lists at Rs 1,990 per share, an 80.7% premium to the issue price of Rs 1,101 per share.
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Lumax Industries' board approves capital expenditure plans of Rs 80 crore to set up a manufacturing unit in Gujarat which will be operational by Q3FY22.
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Adani Transmission will acquire Warora-Kurnool Transmission (WKTL) from Essel Infraprojects (EIL) at an enterprise valuation of Rs 3,370 crore.
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Markets are up today morning. Nifty 50 was trading at 14676.95 (169.7, 1.2%), BSE Sensex was trading at 49584.63 (576.1, 1.2%) while the broader Nifty 500 was trading at 12287.30 (138.4, 1.1%)
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Market breadth is surging up. Of the 1648 stocks traded today, 1212 were on the uptrend, and 384 went down.
Riding High:
Largecap and midcap gainers today include Au Small Finance Bank Ltd. (1308.00, 10.99%), NHPC Ltd. (25.60, 10.11%) and Oracle Financial Services Software Ltd. (3432.10, 9.86%).
Downers:
Largecap and midcap losers today include General Insurance Corporation of India (185.35, -8.63%), Info Edge (India) Ltd. (4158.45, -6.99%) and Hindustan Zinc Ltd. (262.10, -5.74%).
Volume Shockers
27 stocks in BSE 500 are trading on high volumes today.
Top high volume gainers on BSE included Redington (India) Ltd. (187.20, 14.11%), MOIL Ltd. (156.00, 12.96%) and Au Small Finance Bank Ltd. (1308.00, 10.99%).
Top high volume losers on BSE were Info Edge (India) Ltd. (4158.45, -6.99%), Procter & Gamble Hygiene & Healthcare Ltd. (12281.70, -3.59%) and Bajaj Holdings & Investment Ltd. (3181.40, -3.17%).
Tata Metaliks Ltd. (797.00, 10.63%) was trading at 9.7 times of weekly average. eClerx Services Ltd. (1075.00, 4.50%) and SKF India Ltd. (2219.00, 1.99%) were trading with volumes 9.5 and 6.9 times weekly average respectively on BSE at the time of posting this article.
BSE 500: highs, lows and moving averages
12 stocks hit their 52 week highs,
Stocks touching their year highs included - Adani Transmission Ltd. (886.70, 1.85%), Ajanta Pharma Ltd. (1864.30, 4.26%) and eClerx Services Ltd. (1075.00, 4.50%).
20 stocks climbed above their 200 day SMA including MOIL Ltd. (156.00, 12.96%) and Ircon International Ltd. (87.50, 8.23%). 9 stocks slipped below their 200 SMA including Edelweiss Financial Services Ltd. (66.80, -4.71%) and Sunteck Realty Ltd. (280.00, -4.34%).
