Market closes lower, Sapphire Foods' IPO gets bids for 5X of total shares on offer

Trendlyne Analysis

Indian markets slumped today. Nifty 50 closed at 17,873.60 (-143.6, -0.8%) , BSE Sensex closed at 59,919.69 (-433.1, -0.7%) while the broader Nifty 500 closed at 15,411.10 (-110, -0.7%)

Market breadth is in the red. Of the 1,808 stocks traded today, 633 showed gains, and 1,126 showed losses.

ICICI Securities maintains its 'BUY' rating on Power Grid corporation on back of its consistent performance and attractive dividend yield (6-7%). The brokerage expects a target price upside of 19%
On the last day, investors bid for over 5X the available 96 lakh shares on offer in Sapphire Foods Rs 2,073-crore IPO. The retail quota gets bids for 18X the available 17.56 lakh shares on offer.
Investors bid for nearly 10 times the available 1.75 crore shares on offer in Latent View Analytics' Rs 600 crore IPO. The retail quota gets close to 47 times the available 17.53 lakh shares on offer on the second day of bidding
Narayana Hrudalaya is rising after the company announces its return to profit of Rs 99.4 crore in Q2FY22, in comparison to a net loss of Rs 3.4 crore in Q2FY21.
Axis Securities downgrades Britannia's stock to 'HOLD' on back of sharp rise in input costs and subdued volume growth outlook. The brokerage expects a target price upside of 4%
Affle India surges in trade today as the company posts a massive 77% YoY rise in net profits to Rs 48 crore due to an acceleration in digital ad spending by clients
Thermax is trading with more than 58 times its weekly average trading volume. Crisil, APL Apollo Tubes, and Narayana Hrudalaya are trading at more than 14 times their weekly average trading volumes.
Premji and Associates' buys 2.2 lakh shares in Craftsmen Automation in Q2FY22. Its holding in the auto parts & equipment company is 1.06% worth Rs 58 crores.
HDFC Securities upgrades its rating on Kansai Nerolac to ‘Buy’ from ‘Hold’ with a target price upside of 13%. Construction chemicals, adhesives, and premium wood finishes segments are doing well in Q2FY22. The management is planning on expanding distribution by 5-10% to meet rising demand from Tier-1 cities.
Thermax’s Q2 net profit rises 78% YoY to Rs 60 crore as the company writes back provisions related to a German subsidiary's claims of Rs 28 crore in Q2FY22.
Alembic Pharma's net profit halves to Rs 169.3 crore YoY on back of margin erosion and a massive 40% fall in sales from the US generics segment.
Birla Corporation’s Q2FY22 net profit declines 49% YoY to Rs 86 crore because of lower demand for cement and surge in fuel, raw material, and packaging expenses.
Berger Paints' net profit fell marginally by 1% YoY to 219.2 crore on back of sharp rise in input cost inturn driven by crude oil derivatives.
Nifty 50 was trading at 17,920.00 (-97.2, -0.5%) , BSE Sensex was trading at 60,059.25 (-293.6, -0.5%) while the broader Nifty 500 was trading at 15,458.40 (-62.7, -0.4%)
Market breadth is even. Of the 1,736 stocks traded today, 812 were on the uptrend, and 850 went down.

Riding High:

Largecap and midcap gainers today include Thermax Ltd. (1,522.85, 13.57%), Honeywell Automation India Ltd. (45,196.40, 6.04%) and General Insurance Corporation of India (147.95, 5.45%).

Downers:

Largecap and midcap losers today include Bharat Forge Ltd. (782.05, -6.00%), Balkrishna Industries Ltd. (2,379.90, -5.54%) and Union Bank of India (49.60, -4.89%).

Crowd Puller Stocks

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

Top high volume gainers on BSE included Thermax Ltd. (1,522.85, 13.57%), Crisil Ltd. (3,142.65, 9.45%) and Timken India Ltd. (1,976.40, 9.07%).

Top high volume losers on BSE were Solara Active Pharma Sciences Ltd. (1,248.65, -9.04%), Laurus Labs Ltd. (462.20, -5.59%) and Natco Pharma Ltd. (824.15, -3.85%).

Indostar Capital Finance Ltd. (278.15, 1.57%) was trading at 26.7 times of weekly average. Narayana Hrudayalaya Ltd. (571.45, 4.43%) and General Insurance Corporation of India (147.95, 5.45%) were trading with volumes 21.4 and 19.9 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

25 stocks hit their 52 week highs, while 3 stocks were underachievers and hit their 52 week lows.

Stocks touching their year highs included - Bajaj Holdings & Investment Ltd. (4,911.60, -3.18%), Bata India Ltd. (2,144.15, -1.83%) and Bharat Electronics Ltd. (223.30, 1.64%).

Stocks making new 52 weeks lows included - Strides Pharma Science Ltd. (487.25, -3.28%) and Procter & Gamble Health Ltd. (5174.30, -3.36%).

10 stocks climbed above their 200 day SMA including Thermax Ltd. (1,522.85, 13.57%) and Honeywell Automation India Ltd. (45,196.40, 6.04%). 12 stocks slipped below their 200 SMA including LIC Housing Finance Ltd. (427.60, -2.57%) and Kansai Nerolac Paints Ltd. (579.65, -2.52%).