Market closes higher, Yes Bank raises concern on DishTV's investment in Watcho

Markets rose in today's trading. Nifty 50 closed at 17,629.50 (110.1, 0.6%) , BSE Sensex closed at 59,141.16 (418.0, 0.7%) while the broader Nifty 500 closed at 15,104.90 (84.4, 0.6%)

Market breadth is in the red. Of the 1795 stocks traded today, 798 were gainers and 940 were losers.

Easy Trip Planners is trading higher as the online travel company incorporates subsidiaries with operations in Thailand, Philippines, and the United States of America.
Sundaram Clayton, Shriram City Union Finance, Akzo Nobel India, and GlaxoSmithKline Pharmaceuticals are trading with higher delivery volumes compared to Wednesday.
ICICI Direct maintains a 'Buy' rating on Minda Corporation with a 25% target price upside expecting growth prospects between FY22-23 as the company is working with electric vehicle makers like Ola Electric.
Sansera Engineering's Rs 1,283 crore IPO is subscribed by 4.2 times of the shares on offer with the retail portion receiving bids for 2.5 times the available quota of shares on the final day of the bidding process.
Yes Bank raises concern about Dish TV India's Rs 1,378 crore investment in the OTT platform Watcho. Earlier this week, the bank issued a notice to the DTH company to remove five directors including founder Ashok Kurien.
IIFL Finance is trading in the red with more than 28 times its weekly average trading volume. Godfrey Phillips India, Supreme Industries, and Bosch are trading with more than five times their weekly average trading volume.
Nifty PSU Bank is rising with strong gains in Punjab & Sind Bank, Punjab National Bank, Indian Overseas Bank, and Union Bank of India.
Reports suggest Tata Sons and SpiceJet officially submit bids for the sale of Air India on Wednesday. As of July 2021, Air India's market share was 13.3% based on domestic passengers carried.
Aurobindo Pharma's promoter pledges 10 lakh shares (0.17% stake) worth Rs 73.6 crore on Monday. At the end of Q1FY22, 20.6% of promoters' shareholding was pledged.
Sunteck Realty enters into an agreement with Amar Dye Chem to develop a 50-acre land estimated at a property size of 1 crore sq ft in Kalyan near Mumbai.
Gabriel India is rising as reports suggest HDFC Asset Management Company increases its stake in the company to 7.04% from 5.02%.
Edelweiss initiates coverage on Globus Spirits with a 'Buy' rating signaling a target price upside of 22% expecting the government to increase prices of grain based ethanol which could add to the company's earnings.
STEL Holdings buys 1.8 lakh shares of RPSG Ventures for Rs 18 crore in a bulk deal on Wednesday.
Vodafone Idea is rising as the Union Cabinet announces a moratorium of four years for the payment of adjusted gross revenue (AGR) dues.
The government of India will sell 4.8 crore shares (5% stake) in Hindustan Copper at a floor price of Rs 116 per share in an offer for sale on Thursday and Friday.
Nifty 50 was trading at 17,559.55 (40.1, 0.2%) , BSE Sensex was trading at 58,881.54 (158.3, 0.3%) while the broader Nifty 500 was trading at 15,065.45 (44.9, 0.3%)
Market breadth is ticking up strongly. Of the 1,708 stocks traded today, 1,204 were gainers and 446 were losers.

Riding High:

Largecap and midcap gainers today include Vodafone Idea Ltd. (11.25, 25.70%), Indian Overseas Bank (22.75, 12.62%) and Indus Towers Ltd. (269.35, 10.14%).

Downers:

Largecap and midcap losers today include Bharat Petroleum Corporation Ltd. (439.05, -10.39%), Zee Entertainment Enterprises Ltd. (247.15, -3.42%) and REC Ltd. (156.30, -3.10%).

Movers and Shakers

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

Top high volume gainers on BSE included Vodafone Idea Ltd. (11.25, 25.70%), Indian Overseas Bank (22.75, 12.62%) and Indus Towers Ltd. (269.35, 10.14%).

Top high volume losers on BSE were IIFL Finance Ltd. (295.20, -4.68%), Lupin Ltd. (968.10, -2.15%) and Sanofi India Ltd. (8049.45, -0.85%).

CSB Bank Ltd. (316.85, 4.69%) was trading at 16.7 times of weekly average. Godfrey Phillips India Ltd. (1050.70, 4.60%) and Gateway Distriparks Ltd. (258.00, 1.67%) were trading with volumes 14.1 and 13.9 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

51 stocks hit their 52 week highs,

Stocks touching their year highs included - Allcargo Logistics Ltd. (245.75, 2.44%), Bajaj Electricals Ltd. (1442.70, 1.81%) and Bata India Ltd. (1804.80, -1.80%).

12 stocks climbed above their 200 day SMA including Vodafone Idea Ltd. (11.25, 25.70%) and Punjab National Bank (41.80, 7.87%). 10 stocks slipped below their 200 SMA including Hindustan Copper Ltd. (116.95, -6.14%) and Bajaj Consumer Care Ltd. (255.75, -1.99%).