Markets close lower, Sobha's Q4 profits decline 64.7% YoY

Gloom in markets in today's trading. Nifty 50 closed at 15,693.40 (-79.4, -0.5%) , BSE Sensex closed at 52,306.08 (-282.6, -0.5%) while the broader Nifty 500 closed at 13,428.20 (-62.9, -0.5%)

Market breadth is in the red. Of the 1,746 stocks traded today, 721 were gainers and 991 were losers.

VST Industries, Mahindra CIE Automotive, JK Cement, Dalmia Bharat and Cera Sanitaryware are trading with higher delivery volumes compared to Tuesday.
ICICI Direct upgrades its rating on Info Edge (India) to 'Buy' from 'Hold' expecting the company to benefit from the move to online advertising, giving its robust growth in billing on a QoQ basis.
Adani Ports & Special Economic Zone's promoter group buys 7 lakh shares worth nearly Rs 51 crore via an insider trade on Tuesday. Norway's largest pension fund divests its stake in the company's Myanmar project due to its link with the Myanmar military.
Avanti Feeds' Q4FY21 revenues rise by 6.1% YoY to Rs 1,098 crore, with net profits down by 20% to Rs 70 crore due to a 15% increase in raw material costs.
India Pesticides raises Rs 240 crore from 16 anchor investors at Rs 296 per share ahead of its IPO on June 23. The investors include SBI Mutual Fund, Nippon Mutual Fund, and Abu Dhabi Investment Authority. The agrochemical company's IPO is worth up to Rs 800 crore.
Bharat Electronics is rising as the state-owned defence company's sales in Q4FY21 rise by 18% YoY to Rs 6,757 crore, with net profits up by 31% to Rs 1,352 crore.
Nesco, Godrej Industries, Godrej Agrovet and Amber Enterprises India are trading in the green with more than eight times their average weekly trading volume.
Schneider Electric Infrastructure is trading higher whereas Apollo Hospitals Enterprise is trading lower ahead of their Q4 earnings update later today.
IDBI Bank is rising as reports suggest the central government plans to sell a 26% stake in the lender. Post the potential disinvestment, the government's stake will drop to 19.5% from 45.5%.
Aster DM Healthcare's Q4 profits fall 19.6% YoY to Rs 105.4 crore due to a 17X increase in laboratory outsourcing expenses and revenues rise by 5% to Rs 2,420.7.
Godrej Agrovet's promoters purchase over 41,000 shares worth Rs 2.3 crore via an insider trade. In June, promoters acquired over 94 lakh shares worth Rs 52.3 crore via 17 insider trades.
NMDC's Q4FY21 revenues double YoY to Rs 6,948 crore, with net profits up 7x to Rs 2,838 crore. The country's largest iron ore producer sold 33.2 million tonnes of iron ore in FY21, up by 6% YoY.
Hero MotoCorp, the country's largest two-wheeler maker will raise motorcycle and scooter prices by Rs 3,000 in July. On Tuesday, Maruti Suzuki India announced price hikes for its passenger vehicles.
Minda Industries trades higher as it announces the acquisition of a 51% controlling stake in UzChasys, an Uzbekistan-based automotive lighting manufacturer for Rs 58 crore.
Sobha's Q4 profit falls 64.7% YoY to Rs 17.9 crore as land purchase cost rises 3.4X, revenues decline 36.5% to Rs 588.9 crore.
Nifty 50 was trading at 15,803.50 (30.8, 0.2%) , BSE Sensex was trading at 52,683.66 (95.0, 0.2%) while the broader Nifty 500 was trading at 13,513.55 (22.5, 0.2%).
Market breadth is ticking up strongly. Of the 1,662 stocks traded today, 1,098 were on the uptrend, and 532 went down.

Riding High:

Largecap and midcap gainers today include Bharat Electronics Ltd. (168.35, 11.20%), Godrej Industries Ltd. (578.00, 7.67%) and Relaxo Footwears Ltd. (1,175.90, 6.09%).

Downers:

Largecap and midcap losers today include Indian Overseas Bank (23.55, -5.04%), Adani Total Gas Ltd. (1,317.70, -5.02%) and SBI Cards and Payment Services Ltd. (933.60, -4.31%).

Volume Rockets

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

Top high volume gainers on BSE included Bharat Electronics Ltd. (168.35, 11.20%), Timken India Ltd. (1,559.00, 10.66%) and Godrej Agrovet Ltd. (633.45, 10.02%).

Top high volume losers on BSE were Wockhardt Ltd. (561.50, -5.87%), Sobha Ltd. (482.85, -3.96%) and Kotak Mahindra Bank Ltd. (1738.95, -1.03%).

Godrej Industries Ltd. (578.00, 7.67%) was trading at 21.6 times of weekly average. Nesco Ltd. (615.45, 8.79%) and Infibeam Avenues Ltd. (55.05, 7.84%) were trading with volumes 18.9 and 11.6 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

37 stocks made 52 week highs,

Stocks touching their year highs included - Bharat Electronics Ltd. (168.35, 11.20%), Crisil Ltd. (2,872.70, 0.99%) and DCM Shriram Ltd. (823.00, -1.79%).

3 stocks climbed above their 200 day SMA including City Union Bank Ltd. (168.40, 3.03%) and Maruti Suzuki India Ltd. (7,432.95, 2.31%). 5 stocks slipped below their 200 SMA including Bandhan Bank Ltd. (333.30, -2.59%) and Vakrangee Ltd. (45.30, -2.05%).