Market closes lower, Aditya Birla AMC's IPO is 2.9 times subscribed on the final day

Markets closed on a low note. Nifty 50 closed at 17,532.05 (-86.1, -0.5%) , BSE Sensex closed at 58,765.58 (-360.8, -0.6%) while the broader Nifty 500 closed at 15,013.95 (-38.7, -0.3%)

Market breadth is in the green. Of the 1794 stocks traded today, 904 were on the uptrend, and 817 went down.

Quess Corp, Carborundum Universal, Supreme Industries, and Endurance Technologies are trading with higher delivery volumes compared to Thursday.
Maruti Suzuki India's total wholesales is down by 46% YoY to 86,380 units in September 2021. Domestic wholesales fall 55% to 68,815 units while exports jump 2X to 17,565 units in the month.
Aditya Birla Sun Life AMC’s Rs 2,768 crore IPO is subscribed by 2.9 times the shares on offer, with the retail portion receiving bids for 2.8 times the available quota of shares on the final day of the bidding process.
Ashok Leyland's total wholesales in September 2021 rise 14.4% YoY to 9,533 units. The medium & heavy commercial vehicle (CV) wholesales are up by 39.3% YoY to 5,060 units and light CV wholesales fall 4.8% YoY to 4,473 units during the month
The Department of Telecom imposes a penalty on Vodafone Idea and Bharti Airtel of Rs 2,000 crore and Rs 1,050 crore, respectively for breaking license terms and denying Reliance Jio Infocomm points of interconnection.
Mangalore Refinery And Petrochemicals and Cummins India are trading with more than ten times their weekly average trading volume. Muthoot Finance, TV18 Broadcast, and Supreme Petrochem are trading with more than four times their weekly average trading volume.
Indian Railway Catering & Tourism Corporation sets October 29 as the record date for its 5:1 stock split. In August, the railway and catering company's board of directors approved the stock split.
Escorts is trading lower as its total wholesales fall 26% YoY to 8,816 units in September 2021. Domestic wholesales fall 30% to 7,975 units, but exports double to 841 units in the month.
Jubilant Foodworks' Netherlands subsidiary will increase its stake in DP Eurasia to 49% from 32%. DP Eurasia is the master franchisee operator of Domino's Pizza in Turkey, Russia, Azerbaijan, and Georgia.
Bajaj Auto’s exports fall 1.3% YoY to 2.09 lakh units and domestic wholesales by 15.9% YoY to 2.1 lakh units. Two-wheeler wholesales fall 10.8% YoY to 3.6 lakh units and three-wheeler wholesales rise by 12.4% YoY to 40,985 units in September 2021.
Axis Securities initiates coverage on PNC Infratech with a 'Buy' rating and a target price at a 24% upside as the company is targetting order inflows worth Rs 7,000 - 8,000 crore in FY22 with EBTIDA margins of 13.5%.
Bharti Airtel will invest close to Rs 5,000 crore to triple its data centers' capacity by 2025. The telecom company estimates the domestic data center industry to be worth $5 billion (Rs 37,000 crore) by 2025.
Paras Defence And Space Technologies lists at Rs 469 per share, a 170% premium to the issue price of Rs 175 per share. The defence engineering company's IPO comprised of a fresh issue of Rs 140.6 crore and an offer for sale of Rs 30.2 crore.
Maruti Suzuki India will reduce total production by up to 40% in October due to a shortage of semiconductors. In September, the passenger and commercial vehicle maker reduced production by 60%.
Markets fell in early trading. Nifty 50 was trading at 17,506.95 (-111.2, -0.6%) , BSE Sensex was trading at 58,734.35 (-392.0, -0.7%) while the broader Nifty 500 was trading at 14,985.40 (-67.3, -0.5%)
Market breadth is in the red. Of the 1704 stocks traded today, 697 were gainers and 917 were losers.

Riding High:

Largecap and midcap gainers today include IDBI Bank Ltd. (49.95, 7.88%), Abbott India Ltd. (22031.25, 7.38%) and GMR Infrastructure Ltd. (41.00, 6.91%).

Downers:

Largecap and midcap losers today include Cummins India Ltd. (918.10, -7.44%), Oberoi Realty Ltd. (916.20, -4.98%) and Vodafone Idea Ltd. (11.40, -4.20%).

Volume Shockers

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

Top high volume gainers on BSE included TV18 Broadcast Ltd. (41.55, 9.49%), Triveni Turbine Ltd. (173.90, 9.06%) and Mangalore Refinery And Petrochemicals Ltd. (50.85, 8.89%).

Top high volume losers on BSE were Cummins India Ltd. (918.10, -7.44%), Garden Reach Shipbuilders & Engineers Ltd. (186.85, -3.34%) and Nilkamal Ltd. (2753.20, -2.83%).

Muthoot Finance Ltd. (1533.80, 5.76%) was trading at 7.5 times of weekly average. Tata Investment Corporation Ltd. (1436.65, 5.10%) and Tata Metaliks Ltd. (1074.55, 3.90%) were trading with volumes 5.7 and 5.6 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

27 stocks overperformed with 52 week highs,

Stocks touching their year highs included - Abbott India Ltd. (22031.25, 7.38%), Allcargo Logistics Ltd. (285.45, 6.10%) and Bata India Ltd. (1834.70, 3.18%).

6 stocks climbed above their 200 day SMA including Tanla Platforms Ltd. (915.95, 5.00%) and Sun TV Network Ltd. (520.95, 3.09%). 8 stocks slipped below their 200 SMA including Garden Reach Shipbuilders & Engineers Ltd. (186.85, -3.34%) and Maruti Suzuki India Ltd. (7162.30, -2.40%).