Markets closed up today. Nifty 50 closed at 14525.00 (214.2, 1.5%) , BSE Sensex closed at 48544.06 (660.7, 1.4%) while the broader Nifty 500 closed at 12198.10 (174, 1.5%)

Market breadth is surging up. Of the 1729 stocks traded today, 1256 were on the uptick, and 442 were down.

• Aavas Financiers, TTK Prestige, Spandana Sphoorty Financial and SJVN are trading in the green with higher delivery volume compared to the previous day.

• The Nifty IT index trades lower, pulled down by losses in Coforge, MindTree, Mphasis, and Tech Mahindra.

• ICICI Securities upgrades Ambuja Cement to ‘Buy’ from ‘Hold’ with a target price at an upside of 20% as it expects robust urban housing demand.

• Vijay Kedia increases his stake in Affordable Robotic & Automation by 0.8%. He now holds 15.7% of the company.

• Edelweiss maintains a ‘Buy’ on Pharmaceutical company Alkem Laboratories with a target price at an upside of 12% above the market price.

• KPR Mill, Zydus Wellness, SKF India, EID Parry (India), and Dr. Reddy's Laboratories are trading with volume twice the weekly average volume.

• SBI Mutual Fund lowers its stake in Divi's Laboratories and MRF, and adds a stake in Tata Steel in Q4FY21.

• Tata Consultancy Services reports a 6% YoY rise in revenues to Rs 43,705 crore, with net profits growing by 15% YoY to Rs 9,246 crore, and operating margins up by 20 basis points QoQ.

• Amber Enterprises is rising as the air-conditioner OEM looks to apply to the PLI scheme for its motor and electronics subsidiaries.

• Axis Direct in a report on auto OEMs and components, expects demand to be resolute despite partial lockdowns. The brokerage's top picks are Ashok Leyland, Escorts, Endurance Technologies, and Minda Industries.

• Radhakishan Damani decreases his stake in VST Industries to 30.2% (from 31% earlier) and Spencer Retail to below 1% (from 1.5% earlier) in Q4FY21.

• S&P Dow Jones Indices removes Adani Ports and Special Economic Zone from its sustainability index because of its links with the Myanmar military.

• Nifty 50 was trading at 14374.90 (64.1, 0.5%) , BSE Sensex was trading at 48070.50 (187.1, 0.4%) while the broader Nifty 500 was trading at 12095.85 (71.8, 0.6%)

• Market breadth is ticking up strongly. Of the 1597 stocks traded today, 1221 were gainers and 339 were losers.

Riding High:

Largecap and midcap gainers today include Indian Overseas Bank (18.05, 12.11%), IDBI Bank Ltd. (37.05, 9.62%) and Mahindra & Mahindra Ltd. (811.65, 8.00%).

Downers:

Largecap and midcap losers today include Dr. Lal Pathlabs Ltd. (2962.20, -11.22%), Astral Poly Technik Ltd. (1435.45, -5.24%) and L&T Technology Services Ltd. (2695.00, -5.06%).

Volume Rockets

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

Top high volume gainers on BSE included Bank of Maharashtra (26.90, 17.72%), KPR Mill Ltd. (1228.75, 14.10%) and Indian Overseas Bank (18.05, 12.11%).

Top high volume losers on BSE were Astral Poly Technik Ltd. (1435.45, -5.24%) and Tata Consultancy Services Ltd. (3119.00, -3.93%).

Pfizer Ltd. (5072.40, 6.20%) was trading at 7.9 times of weekly average. Solar Industries India Ltd. (1279.80, 1.67%) and Schaeffler India Ltd. (5303.50, 3.44%) were trading with volumes 6.9 and 5.3 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

8 stocks overperformed with 52 week highs,

Stocks touching their year highs included - eClerx Services Ltd. (1163.50, -3.44%), KPR Mill Ltd. (1228.75, 14.10%) and Sobha Ltd. (528.65, 13.32%).

22 stocks climbed above their 200 day SMA including Sunteck Realty Ltd. (297.60, 9.67%) and IDBI Bank Ltd. (37.05, 9.62%). 21 stocks slipped below their 200 SMA including Sanofi India Ltd. (8045.00, -0.61%) and Navneet Education Ltd. (78.00, -0.45%).