Trendlyne Analysis

Markets closed up today. Nifty 50 closed at 18,161.75 (169.8, 0.9%) , BSE Sensex closed at 60,737.05 (452.7, 0.8%) while the broader Nifty 500 closed at 15,631.40 (149.5, 1.0%)

Market breadth is neutral. Of the 1,809 stocks traded today, 878 were on the uptrend, and 871 went down.

• IIFL Finance, Nazara Technologies, 3M India, and Emami are trading with higher delivery volumes compared to Tuesday

• Bhansali Engineering Polymers’ Q2FY22 sales rise 21.7% YoY to Rs 374.8 crore, with a 3X growth in net profits to Rs 123.7 crore

• Hero MotoCorp and Gilera Motors Argentina have entered into an agreement, as part of which Gilera Motors will be the exclusive distributor for the sale and service of Hero MotoCorp motorcycles and scooters in the country

• JTL Infra's Q2FY22 total income rises 3X YoY to Rs 263.2 crore as sales volume is up by 170.4% to 40,180 metric tonne. Net profit jumps by 4X YoY to Rs 13 crore.

• Tata Group companies are trading higher. Tata Motors, Tata Power, Tata Chemicals, and Tata Steel are rising with higher volumes after Tata Motors announced an investment of $1 billion in its passenger EV business.

• Reliance New Energy Solar, a wholly owned subsidiary of Reliance Industries, invests $29 million (Rs 218 crore) in Germany based NexWafe to set up monocrystalline silicon wafer manufacturing facilities in India. The subsidiary company also partners with Denmark based Stiesdal to manufacture hydrogen electrolysers.

• Axis Securities maintains a 'Buy' rating on Equitas Small Finance Bank with a target price at an 18% upside following a 65% YoY growth in loan disbursements in Q2FY22.

• Nomura India buys 9 lakh shares (1.8% stake) of Sansera Engineering and 29 lakh shares (3.6% stake) of Olectra Greentech in Q2FY22.

• Centrum Capital is rising as a consortium of its subsidiary Centrum Financial Services and BharatPe receive a small finance bank licence from the RBI.

• Nifty Metal trades higher led by strong gains in Steel Authority of India, Jindal Steel & Power, Tata Steel, and National Aluminium Company.

• Thermax, Tata Chemicals, Greaves Cotton and EID Parry (India) are trading with more than two times their weekly average trading volume.

• SBI Mutual Fund buys 81.7 lakh shares of TVS Motor Company in Q2FY22. The fund now holds a 1.7% stake in the two and three wheeler maker.

• Indraprastha Gas hikes prices of compressed natural gas by Rs 2.2 per kg in the Delhi-National Capital Region with effect from today.

• Rakesh Jhunjhunwala buys 2.5 crore shares of National Aluminium Company in Q2FY22. He now holds a 1.36% stake in the company.

• Private equity firms TPG Rise and ADQ will invest Rs 7,500 crore in Tata Motors' newly hived off passenger electric vehicle subsidiary. The investors will hold a combined 11-15% stake in the subsidiary.

• Nifty 50 was trading at 18,087.00 (95.1, 0.5%) , BSE Sensex was trading at 60,539.20 (254.9, 0.4%) while the broader Nifty 500 was trading at 15,572.75 (90.9, 0.6%)

• Market breadth is surging up. Of the 1,727 stocks traded today, 1,279 were on the uptick, and 387 were down.

Riding High:

Largecap and midcap gainers today include Tata Motors Ltd. (506.90, 20.45%), Tata Motors Limited (DVR) (237.45, 19.98%) and Tata Power Company Ltd. (224.20, 14.50%).

Downers:

Largecap and midcap losers today include SRF Ltd. (2405.60, -3.44%), Kansai Nerolac Paints Ltd. (598.40, -3.35%) and Maruti Suzuki India Ltd. (7482.15, -2.75%).

Crowd Puller Stocks

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

Top high volume gainers on BSE included Tata Power Company Ltd. (224.20, 14.50%), Tata Chemicals Ltd. (1107.10, 14.04%) and Tata Investment Corporation Ltd. (1663.35, 13.69%).

Top high volume losers on BSE were Biocon Ltd. (352.25, -1.69%), Thermax Ltd. (1387.90, -0.55%) and AIA Engineering Ltd. (1850.90, -0.11%).

Venky's (India) Ltd. (3154.90, 6.86%) was trading at 12.9 times of weekly average. GE Power India Ltd. (331.65, 7.77%) and Timken India Ltd. (1857.30, 9.68%) were trading with volumes 8.9 and 7.5 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

64 stocks hit their 52 week highs,

Stocks touching their year highs included - Ashok Leyland Ltd. (146.45, 5.28%), Ashoka Buildcon Ltd. (118.10, -2.80%) and Bajaj Finance Ltd. (7929.30, 0.94%).

12 stocks climbed above their 200 day SMA including Spicejet Ltd. (77.55, 3.40%) and Shriram Transport Finance Company Ltd. (1366.40, 3.15%). 3 stocks slipped below their 200 SMA including Kansai Nerolac Paints Ltd. (598.40, -3.35%) and EPL Ltd. (233.70, -2.16%).