Upbeat trading today. Nifty 50 closed at 15,824.05 (192.0, 1.2%) , BSE Sensex closed at 52,852.21 (653.7, 1.3%) while the broader Nifty 500 closed at 13,670.20 (174.6, 1.3%)

Market breadth is surging up. Of the 1,739 stocks traded today, 1,199 were on the uptick, and 513 were down.

• WABCO India, V Mart Retail, Cholamandalam Financial Holdings, La Opala RG, and Just Dial are trading with higher delivery volumes compared to Tuesday.

• ICICI Direct upgrades its rating on Nippon Life India Asset Management to "Buy" from "Hold" with a target price at a 21% upside due to the company's reach in tier 3-4 cities (19% of assets under management).

• Akash Prakash's Amansa Holdings buys 5.4 lakh shares (0.2% stake) of Eicher Motors for Rs 137 crore in Q1FY22. It now holds a 1.7% stake in the two-wheeler and commercial vehicle maker.

• Hindustan Unilever's Q1FY22 net profit rises 10.5% YoY to Rs 2,097 crore and revenues grow by 12.6% to Rs 12,260 crore.

• Nomura Singapore purchases 1.1 crore shares (0.2% stake) of GMR Infrastructure for Rs 35.2 crore in Q1FY22. It now holds a 1.9% stake in the company.

• IDFC is rising after it receives the RBI's approval to exit as the promoter of IDFC First Bank after completion of the five year lock-in period. Reports suggest this could lead to a reverse merger of IDFC into IDFC First Bank.

• Schaeffler India is trading in the green with more than 23 times its average weekly trading volume. Jubilant Foodworks, IDFC, and ICICI Prudential Life Insurance Company are trading in the green with more than eight times their average weekly trading volume.

• Jubilant Foodworks' Q1FY22 revenue rises 130% YoY to Rs 879 crore, with a net profit of Rs 63 crore, against a net loss of Rs 74 crore in the year-ago period.

• Bajaj Auto, Can Fin Homes, Hindustan Unilever, Mphasis, UltraTech Cement, and CSB Bank are trading higher ahead of their Q1FY22 earnings update later today.

• ICICI Securities' Q1FY22 revenue increases by 37% YoY to Rs 748 crore, with net profits up 61% to Rs 311 crore.

• Porinju Veliyath's sells nearly 50,000 shares (0.2% stake) of Emkay Global Financial Services for 65 lakhs in Q1FY22. He now holds a 1.2% stake in the company.

• Bajaj Finserv's Q1FY22 net profit declines by 31.5% YoY to Rs 832.8 crore, revenues fall 1.7% to Rs 13,949.5 crore.

• ICICI Prudential Mutual Fund sells nearly 2 lakh shares (0.04% stake) of LIC Housing Finance on Wednesday. It now holds a 3.01% stake in the company.

• Havells India is rising after its Q1FY22 net profit jumps 3.7X YoY to Rs 235.8 crore, revenues rise 74.5% to Rs 2,644.2 crore.

• Rakesh Jhunjhunwala buys one crore shares (2.17% stake) in Indiabulls Housing Finance and 75 lakh shares (0.38% stake) in Federal Bank in Q1FY22.

• Markets are up today morning. Nifty 50 was trading at 15,757.05 (125.0, 0.8%) , BSE Sensex was trading at 52,672.68 (474.2, 0.9%) while the broader Nifty 500 was trading at 13,609.55 (114.0, 0.8%)

• Market breadth is highly positive. Of the 1,678 stocks traded today, 1,401 were on the uptick, and 238 were down.

Riding High:

Largecap and midcap gainers today include Jubilant Foodworks Ltd. (3,429.95, 11.93%), Gland Pharma Ltd. (4,146.70, 9.27%) and JSW Energy Ltd. (217.25, 7.79%).

Downers:

Largecap and midcap losers today include Polycab India Ltd. (1,911.95, -3.95%), Syngene International Ltd. (627.70, -3.65%) and PI Industries Ltd. (3,002.00, -2.79%).

Volume Rockets

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

Top high volume gainers on BSE included Jindal Stainless Ltd. (145.35, 18.75%), Jindal Stainless (Hisar) Ltd. (265.70, 15.17%) and Jubilant Foodworks Ltd. (3,429.95, 11.93%).

Top high volume losers on BSE were Venky's (India) Ltd. (3,104.15, -7.49%), CSB Bank Ltd. (322.85, -4.17%) and Bank of Maharashtra (23.10, -2.33%).

Schaeffler India Ltd. (5,810.75, 7.60%) was trading at 41.0 times of weekly average. CCL Products India Ltd. (405.40, 5.22%) and IDFC Ltd. (59.00, 11.74%) were trading with volumes 13.9 and 12.2 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

43 stocks took off, crossing 52 week highs,

Stocks touching their year highs included - Allcargo Logistics Ltd. (167.65, 6.44%), Apollo Hospitals Enterprise Ltd. (3,985.30, 2.64%) and Berger Paints (India) Ltd. (855.70, -1.07%).

6 stocks climbed above their 200 day SMA including EPL Ltd. (250.70, 5.40%) and IOL Chemicals and Pharmaceuticals Ltd. (676.55, 5.38%). 5 stocks slipped below their 200 SMA including SBI Cards and Payment Services Ltd. (942.85, -2.26%) and VST Industries Ltd. (3,476.60, -0.76%).