Markets close higher, Competition Commission of India imposes a penalty on Maruti Suzuki India

Markets closed up today. Nifty 50 closed at 16,624.60 (128.2, 0.8%) , BSE Sensex closed at 55,958.98 (403.2, 0.7%) while the broader Nifty 500 closed at 14,063.25 (132.7, 1.0%)

Market breadth is ticking up strongly. Of the 1,757 stocks traded today, 1,317 were in the positive territory and 399 were negative.

AIA Engineering, Jamna Auto Industries, ICICI Lombard General Insurance Company, and Great Eastern Shipping Company are trading with higher delivery volumes compared to Monday.
Motilal Oswal maintains a 'Buy' rating on State Bank of India with a target price at an upside of 47% due to its gross NPAs declining by 43% in three years and its resilient ROE of over 15%.
Eicher Motors' board of directors unanimously decide to reappoint Siddhartha Lal as Managing Director of the company subject to approval from public shareholders.
Canara Bank raises Rs 2,500 crore through a qualified institutional placement of equity shares at a floor price of Rs 158.5 per share.
Bajaj Finserv hits a 52-week high as it receives approval from SEBI to set up an asset management company and a trustee company.
Zydus Wellness, Info Edge (India), Gujarat Gas, BASF India, and Carborundum Universal are trading with more than two times their weekly average trading volume.
Elara India Opportunities Fund buys 27 lakh shares (0.44% stake) of Karda Constructions for Rs 6 crore in a bulk deal on Monday.
Indian Hotels Company to raise up to Rs 3,000 crore through a rights issue which will be used for capital expenditure and reducing debt. As of June 2021, the company's net debt was Rs 3,612 crore, a 16% rise sequentially.
Bharti Airtel and Reliance Jio add 24.3 lakh and 23.7 lakh active subscribers in June 2021, while Vodafone Idea loses 48.8 lakh active subscribers in the month.
Chemplast Sanmar lists at Rs 525 per share, a 3% discount to the issue price of Rs 541 per share. The specialty chemical maker's IPO comprised of a Rs 1,300 crore fresh issue and an OFS of Rs 2,550 crore.
CLSA Global Markets buys 12.8 lakh shares (4.84% stake) of RPSG Ventures for Rs 76.8 crore in a bulk deal on Monday.
Aptus Value Housing Finance lists at Rs 330 per share, a 6.5% discount to the issue price of Rs 353 per share. The housing finance company's IPO comprised of a Rs 500 crore fresh issue and an OFS of Rs 2,280 crore.
Maruti Suzuki India trades lower after the Competition Commission of India imposes a penalty of Rs 200 crore on the company for implementing a discount control policy on its dealers.
Nifty 50 was trading at 16,539.50 (43.1, 0.3%) , BSE Sensex was trading at 55,686.79 (131, 0.2%) while the broader Nifty 500 was trading at 13,982.50 (52.0, 0.4%)
Market breadth is in the green. Of the 1,670 stocks traded today, 992 were in the positive territory and 630 were negative.

Riding High:

Largecap and midcap gainers today include Bajaj Finserv Ltd. (16,461.70, 7.79%), NMDC Ltd. (154.75, 5.42%) and Cholamandalam Investment & Finance Company Ltd. (510.10, 5.35%).

Downers:

Largecap and midcap losers today include The New India Assurance Company Ltd. (152.80, -4.65%), JSW Energy Ltd. (215.90, -4.09%) and Varun Beverages Ltd. (806.80, -3.20%).

Volume Shockers

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

Top high volume gainers on BSE included Jindal Stainless Ltd. (150.85, 17.07%), Linde India Ltd. (2,285.70, 12.39%) and Galaxy Surfactants Ltd. (3,216.50, 8.98%).

Top high volume loser on BSE was Blue Star Ltd. (782.20, -2.26%).

India Tourism Development Corporation Ltd. (382.65, 5.95%) was trading at 6.4 times of weekly average. Responsive Industries Ltd. (120.50, 2.47%) and Bajaj Finserv Ltd. (16,461.70, 7.79%) were trading with volumes 4.9 and 4.1 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

13 stocks hit their 52 week highs, while 5 stocks tanked below their 52 week lows.

Stocks touching their year highs included - Bajaj Finance Ltd. (6,980.10, 3.38%), Bajaj Finserv Ltd. (16,461.70, 7.79%) and Carborundum Universal Ltd. (737.10, 1.79%).

Stocks making new 52 weeks lows included - Aurobindo Pharma Ltd. (688.20, 0.77%) and Hero MotoCorp Ltd. (2,675.85, -0.18%).

21 stocks climbed above their 200 day SMA including NBCC (India) Ltd. (44.15, 7.95%) and NCC Ltd. (75.85, 7.06%). 11 stocks slipped below their 200 SMA including ICICI Lombard General Insurance Company Ltd. (1,465.25, -1.39%) and Coromandel International Ltd. (783.85, -1.37%).