Market closes lower, Reliance Industries likely to invest $250 million in InMobi's content platform

Markets closed on a low note. Nifty 50 closed at 17,748.60 (-106.5, -0.6%) , BSE Sensex closed at 59,667.60 (-410.3, -0.7%) while the broader Nifty 500 closed at 15,095.60 (-93.5, -0.6%)

Market breadth is in the red. Of the 1795 stocks traded today, 664 were in the positive territory and 1075 were negative.

CreditAccess Grameen, Kansai Nerolac Paints, Prism Johnson, and Sharda Cropchem are trading with higher delivery volumes compared to Monday.
ICICI Securities maintains a "Hold" rating on Ujjivan Small Finance Bank with a target price at a 2% downside due to the bank's improving collection efficiency in microfinance, personal loan, vehicle loan, and affordable housing segments.
Anupam Rasayan India signs a letter of intent with a European customer to supply life science ingredients for Rs 145 crore. The agrochemical company listed on exchanges in March 2021.
TTK Prestige, Triveni Turbine, and Asahi India Glass are trading with more than six times their weekly average trading volume.
Sun Pharmaceutical Industries' promoter pledges 27.5 lakh shares (0.11% stake) worth Rs 211 crore. At the end of Q1FY22, 6.3% of promoters' shareholding was pledged.
Reports suggest that Reliance Industries will invest $200-$250 million (Rs 1,470-1,846 crore) in mobile advertising company InMobi's content platform Glance.
Bharat Petroleum Corporation's Chairman Arun Kumar Singh says the oil and gas company will invest Rs 1 lakh crore in the next five years to raise its petrochemical production capacity.
Reports suggest that Maruti Suzuki, the largest domestic passenger vehicle maker, has told auto component suppliers to supply parts for 1.6-1.8 lakh cars and SUVs in October. In August 2021, the company's total wholesales were 1.3 lakh units, a 20% fall MoM.
Housing Development Finance Corporation will raise Rs 6,000 crore through debt to provide long term liquidity.
HDFC Securities maintains a "Buy" rating on Max Healthcare Institute with a target price at a 12.3% upside due to its expected expansion in the pathology diagnostic business through MaxLab.
REC's shareholders approve a proposal to raise Rs 85,000 crore through debt. The state owned power company is looking to explore roads, railways, bridges, and port infrastructure projects.
Whirlpool of India buys an additional 38% stake in kitchen appliances maker Elica PB India for $57 million (Rs 420 crore). The consumer electronics company now holds an 87% stake in Elica PB.
Nifty 50 was trading at 17826.55 (-28.6, -0.2%) , BSE Sensex was trading at 59958.79 (-119.1, -0.2%) while the broader Nifty 500 was trading at 15162.35 (-26.7, -0.2%)
Market breadth is in the green. Of the 1716 stocks traded today, 891 were gainers and 741 were losers.

Riding High:

Largecap and midcap gainers today include IDBI Bank Ltd. (44.70, 8.36%), Oil India Ltd. (233.25, 6.36%) and Bharat Heavy Electricals Ltd. (60.35, 5.97%).

Downers:

Largecap and midcap losers today include Oberoi Realty Ltd. (886.60, -6.56%), Gland Pharma Ltd. (3677.60, -4.38%) and Zee Entertainment Enterprises Ltd. (309.15, -4.07%).

Volume Shockers

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

Top high volume gainers on BSE included Future Consumer Ltd. (8.00, 12.68%), Future Retail Ltd. (51.75, 9.99%) and IDBI Bank Ltd. (44.70, 8.36%).

Top high volume losers on BSE were Gland Pharma Ltd. (3677.60, -4.38%), Divi's Laboratories Ltd. (4784.05, -3.01%) and Carborundum Universal Ltd. (865.75, -1.14%).

Triveni Turbine Ltd. (141.95, 6.49%) was trading at 25.0 times of weekly average. IFCI Ltd. (13.60, 7.51%) and TTK Prestige Ltd. (8847.25, -0.29%) were trading with volumes 11.6 and 9.8 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

34 stocks hit their 52 week highs,

Stocks touching their year highs included - Allcargo Logistics Ltd. (260.35, 0.44%), Bharat Electronics Ltd. (210.35, 3.11%) and Indus Towers Ltd. (320.15, 1.94%).

12 stocks climbed above their 200 day SMA including Future Consumer Ltd. (8.00, 12.68%) and Gujarat Pipavav Port Ltd. (103.80, 3.80%). 7 stocks slipped below their 200 SMA including AIA Engineering Ltd. (1921.95, -2.93%) and Indiabulls Housing Finance Ltd. (226.40, -2.83%).