Trendlyne Analysis

Gloom in markets in today's trading. Nifty 50 closed at 17,026.45 (-509.8, -2.9%) , BSE Sensex closed at 57,107.15 (-1,687.9, -2.9%) while the broader Nifty 500 closed at 14,707.20 (-443.4, -2.9%).

Market breadth is highly negative. Of the 1,824 stocks traded today, 336 were gainers and 1,463 were losers.

• Procter & Gamble Hygiene & Healthcare, Endurance Technologies, AIA Engineering, and Bayer Cropscience are trading with lower delivery volumes as compared to Thursday.

• Diagnostic service companies are up with stocks like Dr. Lal Pathlabs, Metropolis Healthcare, Thyrocare Technologies, Jeevan Scientific Technology, and Medinova Diagnostic Services trading higher.

• Realty stocks are falling with stocks like DLF, Godrej Properties, Pheonix Mills and Oberoi Realty in the red. The broader sectoral index Nifty Realty is also trading lower.

• Nifty Pharma is trading higher as Covid cases surge in US and Europe. Pharma stocks are trading up with stocks like Pfizer, Dr. Reddy’s Laboratories, Alkem Laboratories, Cipla, and Alembic Pharmaceuticals trading higher.

• Sharekhan maintains a 'BUY' rating on APL Apollo Tubes on the back of expected sales volume growth of 20% and PAT growth of 35%+ in the next 2 years. The brokerage expects a target price upside of 19%

• Capital Group's American Funds Fundamental Investors picks up 26.27 lakh shares or 1.8% stake in SIS at an average price of Rs 535.

• Tarson Products' shares list at 6% premium to its issue price of Rs 662 on their debut on the bourses. The issue was subscribed over 77 times as the retail quota got bids for 11 times and non institutional quota got bid for 185 times their quota.

• JSW Energy’s board approves re-organisation of the company’s green (renewable) business and grey (thermal) business. All renewable businesses will be taken under ‘JSW Energy Neo Ltd.’- a wholly owned subsidiary of the company. As part of the reorganisation, 100% equity shares of JSW Future Energy’s will be transferred to JSW Energy Neo.

• Societe Generale and BNP Paribas offload 27.4 lakh shares and 23.5 lakh shares, respectively, of Indiabulls Housing Finance in a bulk deal on Thursday. Societe Generale sold 0.6% stake, whereas BNP Paribas divested 0.5% stake in the company.

• Indian markets slumped today. Nifty 50  was trading at 17,295.65 (-240.6, -1.4%) , BSE Sensex was trading at 58,052.69 (-742.4, -1.3%) while the broader Nifty 500 was trading at 14,970.40 (-180.2, -1.2%)

• Market breadth is moving down. Of the 1,749 stocks traded today, 459 were in the positive territory and 1,250 were negative.

Riding High:

Largecap and midcap gainers today include Cipla Ltd. (966.70, 7.42%), Alkem Laboratories Ltd. (3,562.90, 6.84%) and Dr. Lal Pathlabs Ltd. (3,657.10, 6.82%).

Downers:

Largecap and midcap losers today include Indian Hotels Company Ltd. (182.05, -11.43%), Bandhan Bank Ltd. (282.65, -10.28%) and InterGlobe Aviation Ltd. (1,888.10, -8.86%).

Volume Rockets

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

Top high volume gainers on BSE included Indiabulls Housing Finance Ltd. (246.55, 8.78%), Cipla Ltd. (966.70, 7.42%) and Solara Active Pharma Sciences Ltd. (1,164.05, 7.39%).

Top high volume losers on BSE were Indian Hotels Company Ltd. (182.05, -11.43%), PVR Ltd. (1391.00, -10.89%) and Bandhan Bank Ltd. (282.65, -10.28%).

AstraZeneca Pharma India Ltd. (3,180.85, 4.74%) was trading at 20.1 times of weekly average. Pfizer Ltd. (5131.75, 4.82%) and BEML Ltd. (1657.85, 2.39%) were trading with volumes 9.6 and 9.4 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

10 stocks took off, crossing 52 week highs, while 8 stocks hit their 52 week lows.

Stocks touching their year highs included - Adani Transmission Ltd. (1,993.85, -1.76%), Apollo Hospitals Enterprise Ltd. (5,687.60, -0.24%) and BEML Ltd. (1,657.85, 2.39%).

Stocks making new 52 weeks lows included - Bombay Burmah Trading Corporation Ltd. (1,037.60, -3.61%) and Hero MotoCorp Ltd. (2,529.40, -2.52%).

13 stocks climbed above their 200 day SMA including Indiabulls Housing Finance Ltd. (246.55, 8.78%) and Cipla Ltd. (966.70, 7.42%). 32 stocks slipped below their 200 SMA including PVR Ltd. (1,391.00, -10.89%) and Bandhan Bank Ltd. (282.65, -10.28%).