Trendlyne Analysis

Nifty 50 closed at 16,983.20 (-70.8, -0.4%) , BSE Sensex  closed at 57,064.87 (-195.7, -0.3%) while the broader Nifty 500 closed at 14,648.35 (-8.1, -0.1%)

Market breadth is in the green. Of the 1,824 stocks traded today, 1,014 were on the uptrend, and 756 went down

• PNB Housing Finance, Tube Investments of India, Bajaj Holdings and Investment and Crisil are trading with higher delivery volumes as compared to Monday

• Axis Securities maintains a 'BUY' rating on Cyient due to increasing demand for digital transformation services but reduces its target price to Rs. 1200 from Rs. 1300. The company reported robust broad-based growth in Q2 FY22.

• Indian Railway Catering and Tourism Corp (IRCTC) is rising after it inks a deal with redBus for rail ticketing. redBus is planning to launch a new rail booking service called redRail with IRCTC as an authorised partner

• Ratnamani Metals and Tubes is rising as the company gets a new domestic order of Rs. 298 Crore from the oil and gas sector which will be executed between February 2022 and January 2023

• Star Health and Allied Insurance Company’s Rs 7,249-crore IPO gets bids for over 0.08 times the available 4.49 crore shares on offer on the first day of bidding. Retail investors bid for over 0.47 times their quota of 45 lakh shares. The offer comprises a fresh issue of Rs 2,000 crore and an offer for sale of Rs 5,249 crore

• Ratnamani Metals is trading with more than six times its weekly average trading volume. Shriram City Union Finance and The Fertilisers and Chemicals Travancore are trading at more than four times their weekly average trading volumes.

• ICICI Securities upgrades Reliance Industries' rating to 'BUY' from 'HOLD' after its telecom arm Reliance Jio announces 20%+ tariff hikes for prepaid plans. RIL's stock has corrected around 9% in the last 1.5 months.

• ICRA upgrades DLF's credit rating to AA- with 'Stable' outlook from A+ with 'Positive' outlook as its sales bookings grow 77% YoY in Q2FY22, cash collections improve and net debt reduces by Rs 900 crore in H1FY2

• The Reserve Bank of India supersedes Reliance Capital's board. The company incurred losses in the last four years, reporting a cumulative net loss of nearly Rs 19,000 crore. The stock hit the lower circuit during trade.

• Coal India approves an interim dividend of Rs 9 per share. The total dividend outgo for the company will be Rs 5,546 crore out of which Government of India will receive Rs 3,667 crore in its kitty. The record date is December 7, 2021

• Go Fashions' shares list at a 90% premium to the issue price of Rs 690 on their debut on the bourses. The issue was subscribed over 135 times on back of oversubscription of 50 times in the retail quota and 262 times in the non institutional investors quota

• Star Health and Allied Insurance Company raises Rs 3,217 crore from anchor investors including the Monetary Authority of Singapore, Government of Singapore, Abu Dhabi Investment Authority, Morgan Stanley Asia, BNP Paribas Arbitrage, Societe Generale, SBI Life Insurance Company, HDFC Life Insurance Company and Edelweiss Mutual Fund

Riding High:

Largecap and midcap gainers today include Rajesh Exports Ltd. (765.40, 8.21%), Relaxo Footwears Ltd. (1294.65, 5.67%) and Thermax Ltd. (1753.50, 4.69%).

Downers:

Largecap and midcap losers today include Adani Transmission Ltd. (1799.50, -5.00%), Adani Green Energy Ltd. (1295.40, -4.24%) and Tata Steel Ltd. (1071.20, -3.91%).

Movers and Shakers

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

Top high volume gainers on BSE included Sonata Software Ltd. (914.25, 16.34%), Shriram City Union Finance Ltd. (2225.95, 14.72%) and Brigade Enterprises Ltd. (502.45, 11.16%).

Top high volume losers on BSE were DCB Bank Ltd. (82.05, -7.08%), Gulf Oil Lubricants India Ltd. (512.30, -6.36%) and Adani Transmission Ltd. (1799.50, -5.00%).

REC Ltd. (134.55, 4.38%) was trading at 18.5 times of weekly average. ABB Power Products and Systems India Ltd. (2646.25, 9.44%) and MphasiS Ltd. (2895.15, -3.12%) were trading with volumes 13.6 and 12.2 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

5 stocks made 52 week highs, while 9 stocks hit their 52 week lows.

Stocks touching their year highs included - Raymond Ltd. (641.05, -2.54%), Timken India Ltd. (2020.90, 11.11%) and Orient Electric Ltd. (388.85, 10.86%).

Stocks making new 52 weeks lows included - Bajaj Consumer Care Ltd. (183.00, -0.60%) and Bombay Burmah Trading Corporation Ltd. (993.75, -2.41%).

25 stocks climbed above their 200 day SMA including PNC Infratech Ltd. (307.40, 7.75%) and Sumitomo Chemical India Ltd. (371.65, 5.90%). 12 stocks slipped below their 200 SMA including IDFC Ltd. (50.20, -3.74%) and Amber Enterprises India Ltd. (3029.45, -3.45%).