Market closes lower, Bajaj Finance's AUM increases by 21% YoY in Q2FY22

Gloom in markets in today's trading. Nifty 50 closed at 17646.00 (-176.3, -1.0%) , BSE Sensex closed at 59189.73 (-555.2, -0.9%) while the broader Nifty 500 closed at 15134.55 (-145.6, -1.0%)

Market breadth is in the red. Of the 1793 stocks traded today, 602 showed gains, and 1141 showed losses.

Trident, AIA Engineering, APL Apollo Tubes, and 3M India are trading with higher delivery volumes compared to Tuesday.
Monarch Networth Capital maintains a 'Buy' rating on Kirloskar Ferrous Industries with a target price upside of 40%. The brokerage expects demand for the company's castings and customer additions in machining to bode well in FY22.
Mirae Asset Mutual Fund buys over 80,000 shares of Chemplast Sanmar in an open market transaction on Monday.
Marico is trading higher as the company expects Q2FY22 revenues to grow by 20-23% CAGR against Q2FY20 led by a double digit growth in sales volumes.
Reserve Bank of India replaces the board of SREI Infrastructure Finance due to governance issues and payment defaults as the company approaches bankruptcy.
Westlife Development is trading with more than seven times its weekly average trading volume. Bosch, Nesco, and Tata Teleservices are trading with more than three times their weekly average trading volume.
Axis Securities maintains a 'Buy' rating on HDFC Bank with a target price at a 12% upside as the bank's loan book grew by 15.4% YoY in Q2FY22 due to a pick up in housing, consumer, and vehicle loans.
Phillips Carbon Black raises Rs 400 crore through a qualified institutional placement of 1.6 crore equity shares at Rs 244 per share.
Force Motors' total wholesales in September 2021 rises by 0.5% MoM to 2,159 units and domestic wholesales rise by 32.3% to 1,968 units. The company’s exports fall 46% to 272 units in the month.
SBI Mutual Fund sells over 36,000 shares (0.3% stake) in Kewal Kiran Clothing in an open market transaction on Monday.
Bajaj Finance's Q2FY22 assets under management (AUM) increases by 21.7% YoY to Rs 1.6 lakh crore with its deposit book at Rs 28,700 crore, a 32% growth.
ICICI Lombard General Insurance Company's institutional investor Axa SA sells 1.7 crore shares worth nearly Rs 2,700 crore in a bulk deal on Tuesday.
Godrej Consumer Products' management expects double-digit revenue growth in Q2FY22 due to higher sales volumes and price hikes. In Q1FY22, revenues were Rs 2,915 crore, a 24% YoY growth.
Vedanta Group is looking to bid for the Government’s stake in Hindustan Copper when the firm is up for privatisation.
IDFC First Bank's Q2FY22 customer deposits jump by 21% YoY to Rs 83,793 crore, with a 9.7% growth in loans to Rs 1.1 lakh crore. The bank's current account to savings account (CASA) ratio was 52% in the quarter.
Nifty 50 was trading at 17,868.70 (46.4, 0.3%) , BSE Sensex was trading at 59,832.42 (87.5, 0.2%) while the broader Nifty 500 was trading at 15,335.45 (55.4, 0.4%)
Market breadth is highly positive. Of the 1,711 stocks traded today, 1,365 were on the uptick, and 291 were down.

Riding High:

Largecap and midcap gainers today include Bosch Ltd. (17277.35, 11.66%), Indian Railway Catering & Tourism Corporation Ltd. (4463.35, 7.13%) and Coromandel International Ltd. (857.00, 3.62%).

Downers:

Largecap and midcap losers today include IDBI Bank Ltd. (44.40, -5.83%), Aditya Birla Fashion and Retail Ltd. (240.75, -5.81%) and Astral Ltd. (2246.05, -5.04%).

Movers and Shakers

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

Top high volume gainers on BSE included Bosch Ltd. (17277.35, 11.66%), Deepak Nitrite Ltd. (2886.80, 8.10%) and Infibeam Avenues Ltd. (46.40, 6.67%).

Top high volume losers on BSE were Suzlon Energy Ltd. (6.85, -3.52%), Rites Ltd. (288.00, -1.20%) and Alembic Pharmaceuticals Ltd. (778.70, -1.10%).

Nesco Ltd. (645.50, 4.86%) was trading at 16.7 times of weekly average. Westlife Development Ltd. (553.50, -0.63%) and Uflex Ltd. (566.15, 5.12%) were trading with volumes 8.8 and 8.7 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

31 stocks overperformed with 52 week highs,

Stocks touching their year highs included - Atul Ltd. (9799.85, -1.11%), Bosch Ltd. (17277.35, 11.66%) and Canara Bank (174.45, -2.95%).

10 stocks climbed above their 200 day SMA including Infibeam Avenues Ltd. (46.40, 6.67%) and Hindustan Copper Ltd. (125.00, 4.12%). 9 stocks slipped below their 200 SMA including Bajaj Auto Ltd. (3770.05, -2.43%) and Shriram Transport Finance Company Ltd. (1303.20, -2.40%).