Markets close lower, Sundaram Clayton sells 2.4 crore shares of TVS Motor

Nifty 50 closed at 15,741.85 (-9.8, -0.1%) , BSE Sensex closed at 52,275.57 (-52.9, -0.1%) while the broader Nifty 500 closed at 13,498.00 (18.4, 0.1%)

Market breadth is in the green. Of the 1747 stocks traded today, 944 showed gains, and 769 showed losses.

PNB Housing Finance, Bajaj Holdings & Investment, Thermax and Motilal Oswal Financial Services are trading with higher delivery volumes compared to Monday.
Surya Roshni trades higher following an order win worth Rs 170.5 crore from Indradhanush Gas Grid for coated line pipes as part of its gas grid pipeline project.
Coastal Corporation trades higher as Barclays Securities India purchases 2.2 lakh shares worth Rs 5.5 crore, taking a 2.07% stake, via a bulk deal.
Infosys trades higher as it wins a contract with US-based Archrock to integrate digital technologies and mobile tools for its field service technicians.
Tata Elxsi, Torrent Power, Schneider Electric Infrastructure, and Tube Investments of India are trading with more than four times their average weekly trading volume.
HDFC Securities downgrades its rating on Bajaj Finance to 'Reduce' from 'Add', citing ambitious expectations around growth and profitability as the stock has rallied by over 20% since its Q4FY21 earnings.
Max Financial Services and Prestige Estates Projects are trading in the green ahead of their Q4 earnings update later today.
TVS Motor Company trades lower as its promoter Sundaram Clayton sells 2.4 crore shares (5.14% stake) via an insider trade for Rs 1,506.2 crore. Sundaram Clayton now holds 52.26% of the company.
Indian Energy Exchange reports a 15% decline in electricity power trading to 6.5 billion units due to the Covid-19 lockdowns and cyclonic disturbances.
Franklin Templeton Mutual Fund sells over 40,900 shares of Orient Cement on June 4. It now holds 5.1% of the company worth Rs 147 crore.
IDBI Bank cuts its stake in Zicom Electronic Security Systems by 0.85% disposing 3.5 lakh shares worth Rs 4 lakh via a bulk deal.
Indian Oil Corporation will invest Rs 24,000 crore to expand its crude oil processing capacity by 31% to 18 million tons at its Koyali refinery in Gujarat.
Shriram Transport Finance Company's board approves the fundraise of Rs 2,500 crore through the issuance of 17.3 lakh equity shares at Rs 1,440 per share.
Water treatment company Va Tech Wabag's Q4FY21 revenue rises 23% YoY to Rs 1,001 crore, with a 21% growth in net profits to Rs 110 crore, and an order book of Rs 9,500 crore at the end of FY21.
Union Bank of India posts a Rs 1,330 crore standalone profit in Q4 against a Rs 2,503 crore loss in the year ago period, with net interest income up by 88% YoY to Rs 5,402 crore.
Nifty 50 was trading at 15741.25 (-10.4, -0.1%) , BSE Sensex was trading at 52290.18 (-38.3, -0.1%) while the broader Nifty 500 was trading at 13485.85 (6.2, 0.1%)
Market breadth is in the green. Of the 1,678 stocks traded today, 1,060 were on the uptrend, and 585 went down.

Riding High:

Largecap and midcap gainers today include Adani Power Ltd. (151.90, 19.70%), Piramal Enterprises Ltd. (2,167.15, 10.53%) and Tata Motors Limited (DVR) (165.50, 5.85%).

Downers:

Largecap and midcap losers today include Bank of India (82.10, -2.96%), Voltas Ltd. (1,070.05, -2.44%) and NMDC Ltd. (178.20, -2.25%).

Volume Shockers

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

Top high volume gainers on BSE included DB Corp Ltd. (117.10, 19.86%), Adani Power Ltd. (151.90, 19.70%) and Piramal Enterprises Ltd. (2,167.15, 10.53%).

Top high volume losers on BSE were Suven Pharmaceuticals Ltd. (502.50, -2.58%) and NTPC Ltd. (116.15, -0.21%).

Greaves Cotton Ltd. (137.05, 5.75%) was trading at 13.4 times of weekly average. Zensar Technologies Ltd. (305.00, 7.07%) and Schneider Electric Infrastructure Ltd. (133.45, 4.34%) were trading with volumes 8.7 and 8.5 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

64 stocks made 52 week highs,

Stocks touching their year highs included - ACC Ltd. (2,038.55, -0.36%), Adani Power Ltd. (151.90, 19.70%) and Atul Ltd. (8,994.20, 0.69%).

13 stocks climbed above their 200 day SMA including Strides Pharma Science Ltd. (818.00, 5.05%) and Alembic Pharmaceuticals Ltd. (981.10, 3.35%). 3 stocks slipped below their 200 SMA including Future Consumer Ltd. (8.04, -1.95%) and Vodafone Idea Ltd. (10.04, -0.59%).