Nifty 50 closed at 17,377.80 (54.2, 0.3%) , BSE Sensex closed at 58,296.91 (167.0, 0.3%) while the broader Nifty 500 closed at 14,805.85 (46.6, 0.3%)
Market breadth is horizontal. Of the 1,803 stocks traded today, 831 were on the uptrend, and 900 went down.
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Gujarat State Petronet, Shoppers Stop, Garware Technical Fibres, and VST Industries are trading with higher delivery volumes compared to Friday.
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Geojit BNP Paribas maintains a 'Buy' rating on Exide Industries with a target price upside of 24% expecting the company to focus on its core battery business after the sale of Exide Life Insurance.
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Sobha's Managing Director JC Sharma sells 30,000 shares worth Rs 2.2 crore in an insider trade on Friday.
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Jindal Steel and Power will complete the sale of its 96.4% stake in Jindal Power to Worldone for Rs 7,400 crore by December 2021.
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VA Tech Wabag receives an order worth $11.5 million (Rs 84 crore) from construction engineering company Dialog's E&C to build a sewage treatment plant in Malaysia.
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Barbeque-Nation Hospitality raises Rs 100 crore through the issue of preference shares to institutional investors. The investors include the Massachusetts Institute of Technology, Plan Associates, and Motilal Oswal Financial Services.
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Axis Securities maintains a 'Hold' rating on Shree Cements with a target price downside of 6% due to the high valuations of the stock. The cement company's TTM PE is 42.7 times.
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Asian Granito India's board of directors approve a rights issue worth Rs 225 crore during its meeting on September 4.
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Life Insurance Corporation of India purchases 15.9 crore shares (3.9% stake) of Bank of India through a qualified institutional placement on Thursday.
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Markets are up today morning. Nifty 50 was trading at 17415.20 (91.6, 0.5%) , BSE Sensex was trading at 58446.98 (317.0, 0.6%) while the broader Nifty 500 was trading at 14834.70 (75.4, 0.5%)
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Market breadth is ticking up strongly. Of the 1729 stocks traded today, 1177 were in the positive territory and 459 were negative.
Riding High:
Largecap and midcap gainers today include Oberoi Realty Ltd. (817.90, 7.26%), Indian Railway Catering & Tourism Corporation Ltd. (3008.40, 4.83%) and Wipro Ltd. (686.45, 4.79%).
Downers:
Largecap and midcap losers today include Adani Power Ltd. (98.00, -4.99%), Adani Total Gas Ltd. (1404.45, -4.94%) and ICICI Lombard General Insurance Company Ltd. (1563.35, -4.07%).
Crowd Puller Stocks
18 stocks in BSE 500 are trading on high volumes today.
Top high volume gainers on BSE included Vakrangee Ltd. (44.45, 13.68%), Prestige Estates Projects Ltd. (479.45, 13.43%) and Caplin Point Laboratories Ltd. (838.80, 13.34%).
India Tourism Development Corporation Ltd. (393.15, 4.85%) was trading at 20.6 times of weekly average. Alok Industries Ltd. (24.35, 9.19%) and Sundram Fasteners Ltd. (862.85, 8.49%) were trading with volumes 12.0 and 10.3 times weekly average respectively on BSE at the time of posting this article.
BSE 500: highs, lows and moving averages
48 stocks made 52 week highs,
Stocks touching their year highs included - ACC Ltd. (2472.75, 0.15%), Adani Transmission Ltd. (1724.55, -1.48%) and Ambuja Cements Ltd. (438.30, 0.27%).
11 stocks climbed above their 200 day SMA including Alok Industries Ltd. (24.35, 9.19%) and Multi Commodity Exchange of India Ltd. (1643.70, 3.19%). 5 stocks slipped below their 200 SMA including Gujarat Pipavav Port Ltd. (99.60, -2.02%) and Karnataka Bank Ltd. (60.20, -1.79%).
