Markets close higher, SpiceJet rises as DGCA lifts Boeing 737 ban

Nifty 50 closed at 16,705.20 (68.3, 0.4%) , BSE Sensex closed at 56124.72 (175.6, 0.3%) while the broader Nifty 500 closed at 14,192.50 (85.6, 0.6%)

Market breadth is in the green. Of the 1,768 stocks traded today, 1,022 showed gains, and 680 showed losses.

Cholamandalam Financial Holdings, Phoenix Mills, Tube Investments of India, TTK Prestige, and Dalmia Bharat are trading with higher delivery volumes compared to Thursday.
National Aluminium Company is rising after reports suggest that Kotak Institutional Equities upgraded its rating for the company to 'Buy' from 'Sell' with a target price at an upside of 27% expecting strong demand and for aluminium due to a growing supply disruption and production uncertainty in China.
Axis Direct maintains a 'Buy' rating on Safari Industries with a target price at a 14% upside expecting the pace of vaccinations and relaxed lockdowns to led to increased short-term travel.
Carborundum Universal hits a 52-week high after it announces the acquisition of a controlling stake in PLUSS Advanced Technologies, a specialty materials research and manufacturing company for Rs 115 crore.
Sterling and Wilson Solar's promoter group pledges 80 lakh shares (4.9% stake) worth Rs 228 crore on Tuesday. As of June 30, 2021, 53.6% of promoter's shareholding was pledged.
Sudarshan Chemical Industries, SKF India, and Computer Age Management Services are trading with more than four times their weekly average trading volume.
SpiceJet trades higher after the Directorate General of Civil Aviation lifts the ban on the Boeing 737 MAX aircraft after two and a half years. SpiceJet has 13 Boeing 737 Max aircrafts in its fleet.
Aurobindo Pharma trades higher after its wholly-owned subsidiary Eugia Pharma Specialities receives approval from the US Food and Drug Administration for its cyclophosphamide injection used to treat cancer patients.
Motilal Oswal maintains a 'Buy' rating on Bajaj Finance with a target price at an upside of 11% expecting the company's assets under management to grow by 21% in FY22.
NLC India is rising after the company raises debt worth Rs 500 crore through the issue of commercial papers.
Steel Authority of India is rising as reports state the steelmaker is looking to reduce its net debt by 30% to Rs 20,000 crore from Rs 30,000 crore in FY22.
Proctor & Gamble Health's Q1FY22 net profit falls 30.6% YoY to Rs 33.9 crore despite a 35.9% rise in revenues to Rs 287.8 crore.
Nifty 50 was trading at 16,583.90 (-53, -0.3%) , BSE Sensex was trading at 55,735.09 (-214.0, -0.4%) while the broader Nifty 500 was trading at 14,080.00 (-27.0, -0.2%)
Market breadth is horizontal. Of the 1,671 stocks traded today, 833 were in the positive territory and 767 were negative.

Riding High:

Largecap and midcap gainers today include Hindustan Aeronautics Ltd. (1,381.40, 7.12%), ABB India Ltd. (1,850.05, 6.55%) and ICICI Lombard General Insurance Company Ltd. (1,557.70, 5.88%).

Downers:

Largecap and midcap losers today include Au Small Finance Bank Ltd. (1,285.50, -5.01%), General Insurance Corporation of India (154.85, -3.76%) and Ipca Laboratories Ltd. (2,459.90, -2.11%).

Volume Shockers

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

Top high volume gainers on BSE included Sudarshan Chemical Industries Ltd. (707.15, 19.45%), Karnataka Bank Ltd. (60.85, 16.68%) and Gujarat Mineral Development Corporation Ltd. (70.60, 12.33%).

SKF India Ltd. (2,977.05, 6.33%) was trading at 9.0 times of weekly average. Computer Age Management Services Ltd. (3,435.05, 5.91%) and Timken India Ltd. (1,665.90, 6.00%) were trading with volumes 8.2 and 7.7 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

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

Stocks touching their year highs included - Britannia Industries Ltd. (3,941.55, 0.27%), Carborundum Universal Ltd. (783.35, 3.04%) and Fortis Healthcare Ltd. (294.50, 6.11%).

Stock making new 52 weeks lows included - Hero MotoCorp Ltd. (2,674.05, 1.00%).

10 stocks climbed above their 200 day SMA including Karnataka Bank Ltd. (60.85, 16.68%) and Voltas Ltd. (985.35, 2.92%). 4 stocks slipped below their 200 SMA including JM Financial Ltd. (89.50, -0.83%) and Dilip Buildcon Ltd. (516.80, 0.40%).