Trendlyne Marketwatch    
28 Oct 2021
Market closes lower, Paytm's IPO opens on November 8

Trendlyne Analysis

Market sinks in today's trading. Nifty 50 closed at 17,857.25 (-353.7, -1.9%) , BSE Sensex closed at 59,984.70 (-1158.6, -1.9%) while the broader Nifty 500 closed at 15,190.85 (-293.5, -1.9%)

Market breadth is sharply down. Of the 1,800 stocks traded today, 326 were in the positive territory and 1,445 were negative.

  • Tata Teleservices (Maharashtra), Thermax, SKF India, and Hindustan Unilever are trading with higher delivery volumes compared to Wednesday.

  • SBI Mutual Fund buys 4.3 crore shares of Gateway Distriparks for Rs 112 crore in a bulk deal on Wednesday.

  • ICICI Securities maintains a ‘Hold’ rating on Torrent Pharmaceuticals with a target price upside of 6% as the Indian market records revenue growth of 13% YoY to Rs 823 crore despite the US business continuing to face challenges in terms of price erosion.

  • Larsen & Toubro’s Q2FY22 revenue rises by 12% YoY to Rs 34,773 crore with a 67% fall in net profits to Rs 1,819.5 crore

  • Paytm's parent company One97 Communications' Rs 18,300 crore initial public offering (IPO) will open on November 8. The IPO comprises a fresh issue of equity shares worth Rs 8,300 crore, and an offer for sale Rs 10,000 crore, with a price band of Rs 2,080 to 2,150 per share.

  • ITC's Q2FY22 revenue rises by 13% YoY to Rs 14,844 crore due 10% higher cigarette revenues at Rs 6,219 crore, with net profits of Rs 3,714 crore up 10%.

  • Adani Enterprises’ net profit falls by 55% YoY to Rs 195 crore in Q2FY22 with revenues of Rs 13,218 crores, a 45% rise.

  • Titan Company’s net profit shoots 270% YoY to Rs 641 crore with revenue surging by 76% to Rs 7,243 crore, across all its business segments. The boost in revenue owes to increasing footfalls and a 90% rise in operational store days.

  • Eris Lifesciences is trading with less than five times its weekly average trading volume. Torrent Power, United Spirits, and Cholamandalam Financial Holdings are trading at more than five times their weekly average trading volumes.

  • FSN E-Commerce Ventures’ (Nykaa) Rs 5,351 crore IPO receives bids for 32% of the shares on offer, with the retail portion fully subscribed within the first hour of bidding on the first day.

  • SBI Life Insurance Company's net profit falls 18% YoY to Rs 247 crore due to higher provisions. The life insurer's AUM grows by 31% to Rs 2.4 lakh crore and new business premiums by 14%.

  • HDFC Securities maintains an 'Add' rating on Ambuja Cements with a 2.6% target price upside due to a 26% QoQ decline in EBITDA due to rising input costs of fuel and packaging materials. The brokerage expects input costs to remain elevated in Q3.

  • Bajaj Auto’s Q2FY22 net profits rise by 12% YoY to Rs 1,274.5 crore with a 22% growth in revenues to Rs 8,762.2 crore.

  • FSN E-Commerce Ventures (Nykaa) raises Rs 2,396 crore from anchor investors including Blackrock, Fidelity, Government of Singapore, Goldman Sachs. The company allots 2.1 crore shares at Rs 1,125 per share.

  • Market sinks in morning trading. Nifty 50 was trading at 18,129.75 (-81.2, -0.5%) , BSE Sensex was trading at 60,767.49 (-375.8, -0.6%) while the broader Nifty 500 was trading at 15,413.90 (-70.5, -0.5%)

  • Market breadth is in the red. Of the 1,715 stocks traded today, 654 were on the uptrend, and 982 went down.

Riding High:

Largecap and midcap gainers today include Indian Railway Catering & Tourism Corporation Ltd. (913.50, 10.59%), ABB India Ltd. (1,983.65, 5.53%) and TVS Motor Company Ltd. (651.95, 4.17%).

Downers:

Largecap and midcap losers today include Adani Enterprises Ltd. (1,398.55, -10.72%), Punjab National Bank (41.35, -10.69%) and Adani Ports & Special Economic Zone Ltd. (688.10, -7.74%).

Movers and Shakers

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

Top high volume gainers on BSE included Bliss GVS Pharma Ltd. (112.15, 5.55%), ABB India Ltd. (1,983.65, 5.53%) and V-Guard Industries Ltd. (261.20, 4.50%).

Top high volume losers on BSE were Vaibhav Global Ltd. (618.70, -10.87%), Adani Enterprises Ltd. (1,398.55, -10.72%) and Tata Chemicals Ltd. (891.35, -10.63%).

Torrent Power Ltd. (488.80, -2.18%) was trading at 7.2 times of weekly average. Eris Lifesciences Ltd. (783.90, -3.82%) and Cholamandalam Financial Holdings Ltd. (709.60, 1.49%) were trading with volumes 6.1 and 5.4 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

7 stocks made 52 week highs, while 3 stocks tanked below their 52 week lows.

Stocks touching their year highs included - Grindwell Norton Ltd. (1,573.55, 1.97%), IndusInd Bank Ltd. (1,176.00, 2.93%) and TTK Prestige Ltd. (11,103.70, -0.26%).

Stocks making new 52 weeks lows included - Strides Pharma Science Ltd. (522.55, -3.97%) and AstraZeneca Pharma India Ltd. (3,012.00, -0.67%).

9 stocks climbed above their 200 day SMA including Whirlpool of India Ltd. (2,291.10, 3.77%) and Prism Johnson Ltd. (122.50, 2.98%). 14 stocks slipped below their 200 SMA including Adani Ports & Special Economic Zone Ltd. (688.10, -7.74%) and Bank of Maharashtra (20.70, -4.83%).

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