Markets close higher, Sansera Engineering's Rs 1,283 crore IPO subscribed by 78% on day 2

Upbeat trading today. Nifty 50 closed at 17,519.45 (139.5, 0.8%) , BSE Sensex closed at 58,723.20 (476.1, 0.8%) while the broader Nifty 500 closed at 15,020.55 (116.2, 0.8%)

Market breadth is in the green. Of the 1,798 stocks traded today, 1,113 were on the uptrend, and 637 went down.

Kajaria Ceramics, JK Cement, Dish TV India, and Supreme Petrochem are trading with higher delivery volumes compared to Tuesday.
Hindustan Unilever receives a 'Buy' rating from Axis Securities with a target price at an 11% upside expecting the FMCG company to capitalize on higher disposable income and rising internet users in rural areas.
Sansera Engineering's Rs 1,283 crore IPO is subscribed by 78% of the shares on offer with the retail portion receiving bids for 1.4 times the available quota of shares on day two of the bidding process so far.
Rossari Biotech is trading in the green with more than 12 times its weekly average trading volume. Jamna Auto Industries, JTEKT India, and Wockhardt are trading with more than five times their weekly average trading volume.
Wipro's promoter Tariq Azim Premji buys 9.1 lakh shares worth Rs 60.7 crore in an insider trade on Monday.
Oil And Natural Gas Corporation hits a 52-week high as crude oil prices rose following an expected decline in the United States' oil production due to supply chain problems caused by Hurricane Ida.
Nifty IT is trading in the green, pulled higher by gains in MindTree, Mphasis, HCL Technologies, and Larsen & Toubro Infotech.
Axis Securities initiates coverage on ICICI Securities with a 'Buy' rating and a target price at an upside of 22% because of the brokerage's strong position in the market despite competition from discount brokers.
Life Insurance Corporation of India's (LIC) stake in LIC Housing Finance increased to 45.3% from 40.3% after the preferential allotment. Earlier this week, LIC Housing Finance issued 4.5 crore equity shares to LIC for Rs 2,335 crore.
Shree Cements' board of directors approve a Rs 4,750 capital expenditure plan in Rajasthan and West Bengal. The cement maker will invest Rs 3,500 crore to build an integrated cement plant, Rs 750 crore for a clinker grinding unit, and Rs 500 crore for solar power plants.
Acacia Conservation Fund sells 3.6 lakh shares of Esab India for Rs 80.7 crore in a bulk deal on Wednesday.
Power Finance Corporation's institutional investor UBS Group increases its stake in the company to 5.6% from 3.4% through a rights issue.
Rakesh Jhunjhunwala's Rare Enterprises and Bank of America Securities buy 50 lakh and 48.6 lakh shares of Zee Entertainment Enterprises in bulk deals on Tuesday.
Nifty 50 was trading at 17,415.60 (35.6, 0.2%) , BSE Sensex was trading at 58,370.23 (123.1, 0.2%) while the broader Nifty 500 was trading at 14m947.20 (42.9, 0.3%)
Market breadth is ticking up strongly. Of the 1m716 stocks traded today, 1,316 were in the positive territory and 347 were negative.

Riding High:

Largecap and midcap gainers today include Tata Motors Limited (DVR) (161.50, 12.82%), GMR Infrastructure Ltd. (32.30, 7.67%) and NTPC Ltd. (124.20, 7.16%).

Downers:

Largecap and midcap losers today include Zee Entertainment Enterprises Ltd. (255.90, -2.16%), Adani Green Energy Ltd. (1126.95, -1.95%) and Abbott India Ltd. (21124.30, -1.54%).

Volume Rockets

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

Top high volume gainers on BSE included Varroc Engineering Ltd. (313.05, 19.99%), Zensar Technologies Ltd. (579.30, 18.92%) and Tata Motors Limited (DVR) (161.50, 12.82%).

Top high volume losers on BSE were V-Guard Industries Ltd. (252.85, -2.37%), Zee Entertainment Enterprises Ltd. (255.90, -2.16%) and Ipca Laboratories Ltd. (2627.85, -0.37%).

Rossari Biotech Ltd. (1547.75, 8.81%) was trading at 25.3 times of weekly average. Jamna Auto Industries Ltd. (91.00, 6.25%) and Hawkins Cookers Ltd. (6350.00, 2.32%) were trading with volumes 10.9 and 9.9 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

52 stocks took off, crossing 52 week highs,

Stocks touching their year highs included - Adani Transmission Ltd. (1944.05, 0.07%), Atul Ltd. (9739.70, -1.12%) and Bajaj Electricals Ltd. (1417.05, 2.61%).

13 stocks climbed above their 200 day SMA including IFB Industries Ltd. (1168.70, 8.63%) and NLC India Ltd. (55.80, 3.91%). 4 stocks slipped below their 200 SMA including Swan Energy Ltd. (134.00, -2.30%) and Cochin Shipyard Ltd. (370.45, -1.24%).