Nifty 50 closed at 16,294.60 (35.8, 0.2%) , BSE Sensex closed at 54,492.84 (123.1, 0.2%) while the broader Nifty 500 closed at 13,981.55 (12.2, 0.1%)

Market breadth is overwhelmingly negative. Of the 1,752 stocks traded today, 523 showed gains, and 1,203 showed losses.

• Emami, V-Guard Industries, VST Industries, Power Grid Corporation of India, and Century Plyboards (India) are trading with higher delivery volumes compared to Wednesday.

• HDFC Securities maintains a 'Sell' rating on Alkyl Amines Chemicals with a target price at a 25% downside due to rising costs of key inputs like acetic acid, methanol and ammonia in Q1FY22.

• Solara Active Pharma Sciences' total income in Q1FY22 rises by 16.4% YoY to Rs 348 crore, with net profits up 18.5% to Rs 50 crore.

• SBI Life Insurance Company is trading higher after reports suggest that CA Emirald Investments, an arm of Carlyle Asia Partners, will sell a 1.9% stake in the company at a price range of between Rs 1,130 to 1,136.8 per share.

• Elgi Equipments' revenue in Q1FY22 increases by 71% YoY to Rs 489.4 crore, with net profits of Rs 12 crore against a net loss of Rs 8.7 crore in the year-ago period.

• Krsnaa Diagnostics' Rs 1,213.3 crore IPO is subscribed by 2.8 times of the shares on offer, with the retail portion receiving bids for 13.4 times the available quota on day 2 of the bidding process.

• Neuland Laboratories is falling as the pharmaceutical company's total income in Q1FY22 declines by 21% YoY to Rs 202 crore with net profits down by nearly 50% to Rs 8.7 crore.

• Sonata Software, Hatsun Agro Products, PNB Housing Finance, and SBI Life Insurance Company are trading in the green with more than three times their weekly average trading volume.

• Devyani International's Rs 1,838 crore IPO is subscribed by 3.7 times of the shares on offer, with the retail portion receiving bids for 15.5 times the available quota on day 2 of the bidding process.

• Cipla, Cera Sanitaryware, and Gujarat Gas are trading higher, whereas Bajaj Consumer Care, Edelweiss Financial Services, and Honeywell Automation are trading lower ahead of their Q1FY22 earnings update later today.

• Kalpataru Power Transmission's Q1FY22 revenue rises 38% YoY to Rs 3,218 crore with a three-fold jump in net profits to Rs 78 crore.

• Tata Communications' Q1FY22 net profit rises 14.9% YoY to Rs 296.1 crore despite a 6.8% fall in revenues to Rs 4,116.1 crore.

• Coforge's promoter, the private equity firm Baring Asia, sold 33.5 lakh shares (5.53% stake) for Rs 1,587.1 crore in a bulk deal on Wednesday. In another bulk deal, Nomura India buys 3.5 lakh shares (0.58% stake) of the company for Rs 164.8 crore.

• Sumitomo Chemical India's Q1FY22 net profit rises 33.4% YoY to Rs 105.7 crore, revenues rise 21.1% to Rs 787.4 crore.

• Nifty 50 was trading at 16,233.50 (-25.3, -0.2%) , BSE Sensex was trading at 54,357.62 (-12.2, -0.0%) while the broader Nifty 500 was trading at 13,923.15 (-46.2, -0.3%)

• Market breadth is moving down. Of the 1,674 stocks traded today, 380 were on the uptrend, and 1,261 went down.

Riding High:

Largecap and midcap gainers today include Cholamandalam Investment & Finance Company Ltd. (539.65, 4.45%), Bharti Airtel Ltd. (598.70, 4.23%) and Supreme Industries Ltd. (2,161.20, 4.12%).

Downers:

Largecap and midcap losers today include Indian Overseas Bank (22.30, -4.90%), Dalmia Bharat Ltd. (1,939.40, -4.75%) and IDFC First Bank Ltd. (47.80, -3.92%).

Volume Rockets

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

Top high volume gainers on BSE included Indostar Capital Finance Ltd. (376.20, 8.31%), Caplin Point Laboratories Ltd. (913.60, 6.13%) and Bharti Airtel Ltd. (598.70, 4.23%).

Top high volume losers on BSE were Honeywell Automation India Ltd. (41,477.75, -1.14%), Vodafone Idea Ltd. (5.95, -0.83%) and Sumitomo Chemical India Ltd. (429.90, -0.27%).

Sonata Software Ltd. (813.75, 0.67%) was trading at 10.6 times of weekly average. Ipca Laboratories Ltd. (2,134.60, 2.23%) and PNB Housing Finance Ltd. (729.30, 1.60%) were trading with volumes 9.5 and 4.7 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

14 stocks hit their 52 week highs, while 1 stock were underachiever and hit their 52 week lows.

Stocks touching their year highs included - MphasiS Ltd. (2,665.20, 0.05%), Piramal Enterprises Ltd. (2,598.80, 1.89%) and Sonata Software Ltd. (813.75, 0.67%).

Stock making new 52 weeks lows included - Vodafone Idea Ltd. (5.95, -0.83%).

4 stocks climbed above their 200 day SMA including Multi Commodity Exchange of India Ltd. (1,611.65, 2.60%) and HDFC Bank Ltd. (1484.85, 1.33%). 15 stocks slipped below their 200 SMA including Future Consumer Ltd. (7.90, -6.51%) and Ujjivan Financial Services Ltd. (218.25, -4.11%).