Trendlyne Analysis
Nifty 50 closed at 17,503.35 (86.8, 0.5%) , BSE Sensex closed at 58,664.33 (198.4, 0.3%) while the broader Nifty 500 closed at 15,107.80 (131.1, 0.9%)
Market breadth is highly positive. Of the 1,810 stocks traded today, 1,414 were on the uptrend, and 354 went down.
-
Westlife Development, Sundaram Fasteners, WABCO India, and Bajaj Holdings & Investment are trading with higher delivery volumes as compared to Monday.
-
Metal stocks are trading up with stocks like Tata Steel, JSW Steel, Vedanta and Hindalco rising. The broader sectoral index Nifty Metal is up 3% today
-
Anand Rathi maintains a 'BUY' on Tata Steel on the back of a 7.5X rise in its Q2FY22 net profit and expectation of further HRC prices hikes which could be taken by the company in H2FY22. The brokerage expects an upside of 50% from the current market price.
-
IPCA Laboratories purchases 10.5 lakh shares (3.6% stake) of Lyka Labs in a bulk deal on Monday.
-
Triveni Engineering surges in trade on the back of its 10-yr deal with GEAE Technology to manufacture parts for LM2500 gas turbine. This gas turbine is inturn used in Indian Navy's vessels
-
Vedanta is trading with more than seven times its weekly average trading volume. Elgi Equipments, NMDC, and Atul Ltd, are trading at more than two times their weekly average trading volumes.
-
Motilal Oswal maintains its 'Neutral' rating on Wipro post its investor day. The brokerage feels the IT major's current valuation already captures the prospects of 15%-16% earnings growth till FY23E
-
Sumitomo Chemical India is rising despite reporting a fall in net profit by 1.8% YoY to Rs 155 crore from Rs 158 crore in Q2FY22. The company’s growth for 2HFY22 looks optimistic because of outsourcing opportunities with SCC Japan by improving asset turnover by 2.5X
-
Axis Direct downgrades its rating for Escorts to ‘Hold’ from ‘Buy’ with a change in target price upside to 5% from 10% as net profits for Q2FY22 fall 23% YoY to Rs 177 crore and tractor segment volume growth drops by 14% YoY.
-
Latent View Analytics' shares list at a 169% premium to its issue price of Rs 197 on their debut on the bourses. The issue was subscribed over 327 times on the back of a 120 times oversubscription in the retail quota and an 851 times subscription in the non institutional investors quota.
-
Societe Generale sells 4.6 lakh shares of Fino Payments Bank in a bulk deal on Monday.
-
Nifty 50 was trading at 17,336.75 (-79.8, -0.5%) , BSE Sensex was trading at 58,237.94 (-228.0, -0.4%) while the broader Nifty 500 was trading at 14,938.00 (-38.7, -0.3%)
-
Market breadth is in the green. Of the 1,732 stocks traded today, 916 were in the positive territory and 755 were negative.
Riding High:
Largecap and midcap gainers today include Glenmark Pharmaceuticals Ltd. (516.70, 10.11%), Vedanta Ltd. (354.60, 7.99%) and Union Bank of India (46.90, 6.96%).
Downers:
Largecap and midcap losers today include Syngene International Ltd. (585.10, -3.53%), IndusInd Bank Ltd. (981.35, -2.54%) and Asian Paints Ltd. (3,185.55, -2.32%).
Movers and Shakers
9 stocks in BSE 500 are trading on high volumes today.
Top high volume gainers on BSE included Raymond Ltd. (588.20, 16.13%), Glenmark Pharmaceuticals Ltd. (516.70, 10.11%) and Triveni Turbine Ltd. (183.20, 9.83%).
Top high volume losers on BSE were V-Guard Industries Ltd. (233.90, -1.20%) and Mahanagar Gas Ltd. (938.00, -0.23%).
Vedanta Ltd. (354.60, 7.99%) was trading at 8.3 times of weekly average. NMDC Ltd. (142.25, 4.90%) and Jyothy Labs Ltd. (150.00, 0.23%) were trading with volumes 3.4 and 3.1 times weekly average respectively on BSE at the time of posting this article.
BSE 500: highs, lows and moving averages
8 stocks took off, crossing 52 week highs, while 13 stocks were underachievers and hit their 52 week lows.
Stocks touching their year highs included - Bharti Airtel Ltd. (758.90, 2.26%), Raymond Ltd. (588.20, 16.13%) and Trident Ltd. (49.80, 4.95%).
Stocks making new 52 weeks lows included - Aegis Logistics Ltd. (200.15, 2.93%) and Amara Raja Batteries Ltd. (640.20, 1.70%).
22 stocks climbed above their 200 day SMA including Navin Fluorine International Ltd. (3,516.55, 6.97%) and Rain Industries Ltd. (208.00, 6.31%). 25 stocks slipped below their 200 SMA including Syngene International Ltd. (585.10, -3.53%) and Supreme Industries Ltd. (2,150.00, -1.37%).
