Markets closed up today. Nifty 50 closed at 17,132.20 (201.2, 1.2%) , BSE Sensex closed at 57,552.39 (662.6, 1.2%) while the broader Nifty 500 closed at 14,555.90 (158, 1.1%)
Market breadth is in the red. Of the 1,763 stocks traded today, 809 showed gains, and 903 showed losses.
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3M India, Mahindra CIE Automotive, Spandana Sphoorty Financial, GMM Pfaudler, and VIP Industries are trading with higher delivery volumes compared to Monday.
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Shilpa Medicare trades higher after it receives approval from the Drug Controller General of India (DGCI) for 2-deoxy2-glucose (bulk & oral powder) used for the treatment of moderate to severe COVID-19 patients.
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Axis Securities maintains a 'Buy' rating on SIS with a target price upside of 13% expecting strong demand due to higher sanitation needs in Q2FY22 as the country recovers from the Covid-19 second wave.
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Jindal Steel and Power's board of directors approves a debt raise plan of $1 billion (Rs 7,400 crore) to expand steel production by 84% from FY22 to FY24.
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Ramkrishna Forgings' warm forging business receives a letter of intent for an order worth Rs 12 crore per year from a domestic axle manufacturing company.
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HDFC Securities maintains a 'Buy' rating on Max Healthcare with a target price upside of 7.4%. The brokerage expects that the hospital chain is entering a high growth phase following its expansion in Delhi and Mumbai.
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Indian Energy Exchange (IEX) hits a 52-week high and Adani Power hits the upper circuit after the government allows the Tata Power Company and Adani Power's Mundra plants to sell excess power on IEX for a month.
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Indoco Remedies, CCL Products India, Gujarat Piparav Port, Cyient, and Tata Coffee are trading with more than three times their weekly average trading volume.
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WHV-EAM International Small Cap Equity Fund buys 3.3 lakh shares (1.02% stake) of Stove Kraft for Rs 31.6 crore in a bulk deal on Monday.
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Prabhudas Lilladhar maintains a 'Buy' rating on Burger King India with a target price at an upside of 45% following its acquisition of an 85% stake in Burger King Indonesia.
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Pioneer Investment Fund buys 23.5 lakh shares (1.66% stake) of VIP Industries for Rs 108 crore in a bulk deal on Monday. In other bulk deals on Monday, the company's promoter entity DGP Enterprises sells 16.3 lakh shares (1.15% stake) for Rs 75 crore and Kiddy Plast sells 26 lakh shares (1.84% stake) for Rs 119.6 crore.
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Nomura Singapore buys nearly 7 lakh shares (1.07% stake) of Vishal Fabrics for Rs 8 crore in a bulk deal on Monday.
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Nifty 50 was trading at 16,972.90 (41.9, 0.3%) , BSE Sensex was trading at 56,893.17 (3.4, 0.0%) while the broader Nifty 500 was trading at 14,439.85 (42.0, 0.3%)
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Market breadth is highly positive. Of the 1,668 stocks traded today, 1,110 were on the uptick, and 494 were down.
Riding High:
Largecap and midcap gainers today include Bharti Airtel Ltd. (664.05, 7.03%), 3M India Ltd. (24,391.45, 6.15%) and Whirlpool of India Ltd. (2,130.20, 5.17%).
Downers:
Largecap and midcap losers today include Au Small Finance Bank Ltd. (1,130.75, -12.68%), The New India Assurance Company Ltd. (161.80, -3.26%) and Bharat Heavy Electricals Ltd. (52.55, -2.87%).
Crowd Puller Stocks
33 stocks in BSE 500 are trading on high volumes today.
Top high volume gainers on BSE included Infibeam Avenues Ltd. (47.35, 18.67%), Tata Coffee Ltd. (213.15, 7.14%) and Brigade Enterprises Ltd. (334.45, 7.11%).
Top high volume losers on BSE were Au Small Finance Bank Ltd. (1,130.75, -12.68%), Indus Towers Ltd. (215.35, -0.58%) and Gujarat Pipavav Port Ltd. (101.75, -0.25%).
Indoco Remedies Ltd. (479.75, 2.87%) was trading at 12.6 times of weekly average. Triveni Turbine Ltd. (129.10, 5.04%) and Akzo Nobel India Ltd. (2,211.45, 0.15%) were trading with volumes 10.3 and 9.7 times weekly average respectively on BSE at the time of posting this article.
BSE 500: highs, lows and moving averages
48 stocks overperformed with 52 week highs,
Stocks touching their year highs included - Apollo Hospitals Enterprise Ltd. (4,969.55, 4.46%), Asian Paints Ltd. (3,201.35, 2.98%) and Bajaj Finance Ltd. (7,524.50, 5.01%).
21 stocks climbed above their 200 day SMA including Infibeam Avenues Ltd. (47.35, 18.67%) and 3M India Ltd. (24,391.45, 6.15%). 4 stocks slipped below their 200 SMA including Swan Energy Ltd. (135.85, -2.09%) and Dilip Buildcon Ltd. (508.50, -1.82%).
