Market closes higher, Jindal Steel and Power's steel sales jumps 32% QoQ

Upbeat trading today. Nifty 50 closed at 17822.30 (131.1, 0.7%) , BSE Sensex closed at 59744.88 (445.6, 0.8%) while the broader Nifty 500 closed at 15280.10 (99.0, 0.7%)

Market breadth is in the green. Of the 1797 stocks traded today, 1052 were gainers and 674 were losers.

Sundaram Finance, 3M India, Max Healthcare Institute, and Timken India are trading with higher delivery volumes compared to Monday.
Tata Power Company partners with TVS Motor Company to set up electric vehicle charging infrastructure (EVCI) across India for the latter. Tata Power’s EV charging network comprises of more than 5,000 home chargers and over 700 public chargers in 120 cities.
IndusInd Bank’s loans rise 10% YoY and 5% QoQ to Rs 2.2 lakh crore in Q2FY22. The bank's deposits are up by 21% YoY and by 3% QoQ to Rs 2.75 lakh crore in Q2FY22.
Axis Securities maintains a ‘Buy’ rating on Aarti Industries with a target price upside of 15%. The brokerage is enthused about the company's growth prospects due to the upcoming capacity boost of 59% to 1.75 TPA at its chlorination unit.
Mahindra & Mahindra Financial Services' total disbursements in Q2FY22 rises by 60% YoY to Rs 6,450 crore and collection effeciency in September was 100%.
Jindal Steel and Power’s steel sales volume rises 10% YoY and 32% QoQ to 2.13 million tonnes (MT) in Q2FY22. The company posts sales over 2 million tonnes for the first time ever.
Zydus Wellness is trading with more than eleven times its weekly average trading volume. Valiant Organics, GMM Pfaudler, and FDC are trading with more than four times their weekly average trading volume.
Hindustan Zinc's mined metal production rises by 4% YoY to 2.4 lakh tonnes in Q2FY22 due to higher ore production at its Rajasthan mine.
HDFC Securities maintains a 'Buy' rating on Fine Organic Industries with a target price at a 19% upside expecting the return on capital employed (ROCE) to improve to 23% in FY24 from 19% in FY22 due to the completion of capital expenditure.
IndusInd Bank’s loans rise 10% YoY and 5% QoQ to Rs 2.2 lakh crore in Q2FY22. The bank's deposits are up by 21% YoY and by 3% QoQ to Rs 2.7 lakh crore.
ICICI Lombard General Insurance Company's institutional investor Axa SA to sell 175 crore shares (3.5% stake) in a bulk deal valued at Rs 2,620 crore.
Macrotech Developers sells properties worth Rs 1,100 crore in its London project and expects to clear unsold inventory by FY24. As of December 2020, 2 lakh sq ft of its London real estate portfolio was unsold.
HFCL wins an order worth Rs 287 crore from RailTel Corporation to set up a data communications network for the armed forces.
Gujarat Gas is rising as the gas distribution company increases the retail price of its compressed natural gas and piped natural gas by Rs 2.5 and Rs 9.5 respectively.
HDFC Bank's total loans and advances in Q2FY22 grow by 15.4% YoY to Rs 11.9 lakh crore with a 14.4% growth in total deposits to Rs 14 lakh crore. The private bank's CASA ratio in Q2FY22 was 47%, compared to 41.6% in Q2FY21.
Nifty 50 was trading at 17,682.65 (-8.6, -0.1%) , BSE Sensex was trading at 59,264.89 (-34.4, -0.1%) while the broader Nifty 500 was trading at 15,187.35 (6.2, 0.0%)
Market breadth is surging up. Of the 1726 stocks traded today, 1135 were on the uptick, and 504 were down.

Riding High:

Largecap and midcap gainers today include Oil And Natural Gas Corporation Ltd. (163.65, 10.87%), Tata Power Company Ltd. (179.40, 6.41%) and Aditya Birla Fashion and Retail Ltd. (255.60, 6.15%).

Downers:

Largecap and midcap losers today include Oberoi Realty Ltd. (886.70, -3.36%), Bharat Forge Ltd. (722.90, -2.57%) and Dalmia Bharat Ltd. (2073.80, -2.57%).

Movers and Shakers

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

Top high volume gainers on BSE included Gujarat Narmada Valley Fertilizers & Chemicals Ltd. (498.90, 11.15%), Oil And Natural Gas Corporation Ltd. (163.65, 10.87%) and VRL Logistics Ltd. (394.35, 7.86%).

Top high volume losers on BSE were ICICI Lombard General Insurance Company Ltd. (1548.70, -1.78%), 3M India Ltd. (25254.55, -0.71%) and AIA Engineering Ltd. (1935.95, -0.24%).

Zydus Wellness Ltd. (2342.60, 1.16%) was trading at 13.2 times of weekly average. Kansai Nerolac Paints Ltd. (651.35, 3.05%) and Sudarshan Chemical Industries Ltd. (690.15, 4.94%) were trading with volumes 13.2 and 10.5 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

42 stocks took off, crossing 52 week highs,

Stocks touching their year highs included - Abbott India Ltd. (23184.50, 0.33%), Allcargo Logistics Ltd. (298.10, 1.53%) and Astral Ltd. (2365.35, 0.48%).

17 stocks climbed above their 200 day SMA including Ircon International Ltd. (47.50, 5.32%) and Garden Reach Shipbuilders & Engineers Ltd. (197.70, 3.53%).