Markets close lower, Macrotech Developers lists at a 10% discount

Indian markets slumped today. Nifty 50 closed at 14362.95 (-254.9, -1.7%) , BSE Sensex closed at 47949.42 (-882.6, -1.8%) while the broader Nifty 500 closed at 12076.75 (-221.3, -1.8%)

Market breadth is moving down. Of the 1773 stocks traded today, 331 showed gains, and 1420 showed losses.

Glenmark Pharmaceuticals hits a 52-week high as its wholly owned subsidiary Glenmark Life Sciences files for a Rs 1,160 crore IPO.
PVR and Inox Leisure hit nine-month lows as rating agency Crisil downgrades the cinema companies' banking facilities amid rising Covid-19 cases.
Nifty Financial Services (FINNIFTY) is trading lower, pulled down by losses in Axis Bank, Kotak Mahindra Bank, Power Finance Corporation, and Bajaj Finserv.
HCL Technologies is rising as the IT services major signs a million-dollar digital transformation contract with UD Trucks, a Japanese commercial vehicles company.
Supreme Petrochem, Dishman Carbogen Amcis, Linde India and Apollo Hospitals Enterprise are trading in the green with twice the average weekly trading volume.
HDFC Securities in a report on the Automobiles sector, maintains a 'Reduce' rating on Eicher Motors and Ashok Leyland and a 'Buy' on Bajaj Auto, Tata Motors, and Maruti Suzuki India.
The Government of Singapore increases its stake in Dr. Reddy's Laboratories to 1.7% (from 1.5%) and adds a 1.2% stake in Au Small Finance Bank and a 1.5% stake in Kalyan Jewellers India in Q4FY21 via bulk deals.
IT Services company MindTree reports net profit for Q4FY21 at Rs 317 crore, a 53% YoY rise with revenues of Rs 2,109 crore, a 3% YoY jump, and a final dividend of Rs 17.5 per share.
Macrotech Developers lists at Rs 435 per share, a 10% discount to the issue price of Rs 486 per share. The Mumbai-based realty company's IPO was subscribed 1.3 times.
HDFC Bank's Q4 consolidated net profit rises 18% YoY as net interest income rises 12.6% YoY to Rs 17,120 crore, net NPA ratio increases to 0.4% of net advances.
Gloom in markets in early trading. Nifty 50 was trading at 14617.85 (36.4, 0.3%) , BSE Sensex was trading at 47451.46 (-1380.6, -2.8%) while the broader Nifty 500 was trading at 12298.05 (60.5, 0.5%)
Market breadth is moving down. Of the 1682 stocks traded today, 199 were gainers and 1448 were losers.

Riding High:

Largecap and midcap gainers today include Apollo Hospitals Enterprise Ltd. (3152.90, 3.00%), Dr. Lal Pathlabs Ltd. (3003.00, 2.84%) and Adani Transmission Ltd. (1011.85, 2.07%).

Downers:

Largecap and midcap losers today include Bank of India (64.60, -7.25%), RBL Bank Ltd. (175.15, -6.71%) and DLF Ltd. (236.80, -6.20%).

Volume Rockets

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

Top high volume gainers on BSE included Dishman Carbogen Amcis Ltd. (132.50, 7.11%), Caplin Point Laboratories Ltd. (491.55, 5.58%) and DCM Shriram Ltd. (694.65, 5.49%).

Top high volume losers on BSE were TeamLease Services Ltd. (3111.10, -4.50%), Kansai Nerolac Paints Ltd. (549.95, -3.94%) and Kalpataru Power Transmissions Ltd. (349.50, -3.73%).

Linde India Ltd. (1895.95, 0.34%) was trading at 5.7 times of weekly average. Minda Industries Ltd. (529.95, 2.77%) and Apollo Hospitals Enterprise Ltd. (3152.90, 3.00%) were trading with volumes 5.6 and 5.0 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

9 stocks overperformed with 52 week highs, while 1 stock hit their 52 week lows.

Stocks touching their year highs included - Bajaj Consumer Care Ltd. (311.20, 1.63%), Bajaj Electricals Ltd. (1130.00, -0.85%) and Cadila Healthcare Ltd. (527.30, 0.04%).

Stock making new 52 weeks lows included - KRBL Ltd. (177.95, -2.81%).

5 stocks climbed above their 200 day SMA including Caplin Point Laboratories Ltd. (491.55, 5.58%) and Granules India Ltd. (341.50, 4.16%). 31 stocks slipped below their 200 SMA including Suzlon Energy Ltd. (4.45, -6.32%) and DB Corp Ltd. (82.10, -4.87%).