Nifty 50 closed at 17,585.15 (-44.4, -0.3%) , BSE Sensex closed at 59,015.89 (-125.3, -0.2%) while the broader Nifty 500 closed at 15,027.25 (-77.7, -0.5%)
Market breadth is highly negative. Of the 1789 stocks traded today, 457 were in the positive territory and 1278 were negative.
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Adani Transmission, Adani Total Gas, Tanla Platforms, and Mahindra Logistics are trading with higher delivery volumes compared to Thursday.
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CESC is trading higher after its stock split comes into effect. The power utility company's board of directors fixed September 17 as the record day for its stock split in a 1:10 ratio.
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Bajaj Holdings & Investment is trading in the green with more than 25 times its weekly average trading volume. Karur Vysya Bank, Adani Transmission, and Biocon are trading with more than five times their weekly average trading volume.
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Kotak Mahindra Bank acquires Volkswagen Finance, the German automobile maker's vehicle financing business for an undisclosed amount. Volkswagen Finance's outstanding loan book is worth Rs 1,340 crore.
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Bharti Airtel is rising as the telecom company raises the price of its pre-paid and home broadband connections due to the pricing change of the OTT platform Disney+Hotstar.
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Sudarshan Chemical Industries' promoters sell 5.6 lakh shares (0.8% stake) worth Rs 37.4 crore in two insider trades on Wednesday.
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TVS Motor Company purchases an 80% stake in EGO Movement, a Swiss electric bicycle maker, for Rs 132 crore through its Singapore subsidiary.
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Hindustan Copper's offer for sale is subscribed by 1.4 times the shares on offer with institutional investors placing bids worth Rs 700 crore.
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ITC hits a 52 week high and is trading with high volume. The conglomerate's stock is up by 10% this week, the second highest gain among Nifty50 companies this week.
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Axis Securities maintains a 'Buy' rating on MindTree with a target price upside of 12% based on the management's guidance of double digit growth in FY22 expecting large deal wins.
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Biocon's subsidiary Biocon Biologics will sell a 15% stake to Serum Institute Life Sciences, a subsidiary of Serum Institute of India, for $4.9 billion (Rs 36,000 crore).
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Hero MotoCorp will raise the ex-showroom prices of its motorcycles and scooters due to rising input prices from September 20. The price hike will be capped at Rs 3,000 depending on the range of the two-wheelers.
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The market opened on an upbeat note. Nifty 50 was trading at 17,734.70 (105.2, 0.6%) , BSE Sensex was trading at 59,441.85 (300.7, 0.5%) while the broader Nifty 500 was trading at 15,165.85 (61.0, 0.4%)
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Market breadth is in the green. Of the 1,713 stocks traded today, 932 were gainers and 692 were losers.
Riding High:
Largecap and midcap gainers today include InterGlobe Aviation Ltd. (2196.05, 10.92%), Kotak Mahindra Bank Ltd. (2007.95, 5.30%) and JSW Energy Ltd. (323.45, 3.89%).
Downers:
Largecap and midcap losers today include IDBI Bank Ltd. (39.15, -7.12%), Tata Motors Limited (DVR) (146.55, -6.66%) and Oil India Ltd. (199.80, -5.53%).
Volume Shockers
56 stocks in BSE 500 are trading on high volumes today.
Top high volume gainers on BSE included InterGlobe Aviation Ltd. (2196.05, 10.92%), IFCI Ltd. (12.75, 6.69%) and DCM Shriram Ltd. (1036.80, 6.00%).
Top high volume losers on BSE were Rajesh Exports Ltd. (581.65, -5.23%), Adani Transmission Ltd. (1820.35, -5.00%) and Aster DM Healthcare Ltd. (216.35, -4.80%).
Bajaj Holdings & Investment Ltd. (4398.85, 1.84%) was trading at 39.7 times of weekly average. KSB Ltd. (1244.60, 3.61%) and India Tourism Development Corporation Ltd. (407.75, 5.38%) were trading with volumes 27.9 and 26.3 times weekly average respectively on BSE at the time of posting this article.
BSE 500: highs, lows and moving averages
39 stocks made 52 week highs,
Stocks touching their year highs included - Axis Bank Ltd. (807.35, 0.59%), Bajaj Electricals Ltd. (1490.80, 3.33%) and Bajaj Finance Ltd. (7428.80, 0.23%).
13 stocks climbed above their 200 day SMA including Himadri Speciality Chemical Ltd. (50.05, 5.59%) and Spicejet Ltd. (78.55, 3.42%). 13 stocks slipped below their 200 SMA including Infibeam Avenues Ltd. (42.15, -5.81%) and Aditya Birla Capital Ltd. (109.40, -4.79%).
