Trendlyne Analysis

Market sinks in today's trading. Nifty 50 closed at 17,221.40 (-103.5, -0.6%) , BSE Sensex closed at 57,788.03 (-329.1, -0.6%) while the broader Nifty 500 closed at 14,953.10 (-90.2, -0.6%)

Market breadth is in the red. Of the 1,822 stocks traded today, 748 were in the positive territory and 1,040 were negative.

• Zydus Wellness, Sharda Cropchem, AIA Engineering, and Carborundum Universal are trading with higher volumes as compared to Tuesday.

• MedPlus Health’s Rs 1,398.3 crore IPO gets bids for 53X of the available 1.25 crore shares on offer on the last day of bidding. Retail investors bid for 5.24X the quota of 62.51 lakh shares. The offer comprises a fresh issue of Rs 600 crore and an offer for sale of Rs 798.3 crore.

• Data Patterns India's Rs 588.22 crore IPO gets bids for over 7.67X of its available 71 lakh shares on offer. Retail investors bid for over 12.41X their quota of 24.83 lakh shares on the second day of bidding. The offer comprises of a fresh issue of Rs 240 crore and an offer for sale of Rs 348.22 crore.

• HP Adhesives’ Rs 126 crore IPO gets bids for 3.48X of the available 25.28 lakh shares on offer on the first day of bidding. Retail investors bid for 18.55X the quota of 4.6 lakh shares. The offer comprises a fresh issue of Rs 113.44 crore and an offer for sale of Rs 12.53 crore.

• TVS Motor Company is trading with more than nine times its weekly average trading volumes. Asahi India Glass, JK Lakshmi Cement, and EIH are trading with more than seven times their weekly average trading volumes.

• ITC plans capex of Rs 3,000 crore over next two years. The company told investors on Tuesday, in its first-ever investor meeting that it plans to spend 35-45% of the earmarked capex to drive growth in the FMCG segment. The management said that its open to listing its subsidiary ITC Infotech in the future.

• ABFRL signs an agreement with Authentic Brand Group to acquire exclusive distribution rights of the Reebok brand. The company will be able to sell Reebok products through wholesale, e-commerce and Reebok branded retail stores in India and other ASEAN countries. ABFRL is looking to grow its sports and active wear segment through this partnership.

• State Bank of India’s board gives approval for exploring possibilities to sell a 6% stake in its arm, SBI Funds Management, through an IPO.

• Emami rises as the company announces the launch of its German skincare brand Creme21 in the Indian market.

• HDFC Mutual Fund acquires 11.74 lakh shares in Techno Electric & Engineering Company in a bulk deal on Tuesday. This increases the fund’s shareholding in the company to 5.6% from 4.53%.

• HP Adhesives raises Rs 56.7 crore ahead of its IPO by selling 20.68 lakh shares at Rs 274 apiece to anchor investors, including, Coeus Global Opportunities Fund, 3 Sigma Global Fund and AG Dynamic Funds.

• LIC of India sells 2.8 crore equity shares or 2% stake in Larsen & Toubro on Tuesday. This effectively reduces its holding in the company to 12.23%% from 14.23%.

• Nifty 50 was trading at 17,247.10 (-77.8, -0.5%) , BSE Sensex was trading at 57,862.28 (-254.8, -0.4%) while the broader Nifty 500 was trading at 14,981.85 (-61.4, -0.4%)

• Market breadth is balanced. Of the 1,806 stocks traded today, 874 were on the uptrend, and 901 went down.

Riding High:

Largecap and midcap gainers today include PI Industries Ltd. (3,087.55, 4.58%), Crompton Greaves Consumer Electricals Ltd. (430.85, 3.61%) and Emami Ltd. (546.30, 3.55%).

Downers:

Largecap and midcap losers today include Pfizer Ltd. (4,970.55, -4.14%), Polycab India Ltd. (2,465.05, -3.48%) and Godrej Properties Ltd. (2,012.90, -3.34%).

Movers and Shakers

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

Top high volume gainers on BSE included Swan Energy Ltd. (141.85, 12.85%), Bajaj Electricals Ltd. (1,278.45, 11.51%) and Vardhman Textiles Ltd. (2,275.50, 5.83%).

Top high volume losers on BSE were JK Lakshmi Cement Ltd. (588.35, -4.71%), Gujarat Gas Ltd. (648.50, -2.47%) and 3M India Ltd. (24,668.75, -0.44%).

TVS Motor Company Ltd. (673.80, 2.07%) was trading at 14.6 times of weekly average. Fine Organic Industries Ltd. (3,935.10, 5.74%) and EIH Ltd. (138.25, 3.52%) were trading with volumes 8.5 and 8.4 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,

Stocks touching their year highs included - KPR Mill Ltd. (565.10, 1.57%), SKF India Ltd. (4,115.25, 1.30%) and Torrent Power Ltd. (598.60, 2.84%).

12 stocks climbed above their 200 day SMA including Swan Energy Ltd. (141.85, 12.85%) and Emami Ltd. (546.30, 3.55%). 16 stocks slipped below their 200 SMA including PNB Housing Finance Ltd. (552.25, -3.42%) and Phillips Carbon Black Ltd. (223.15, -2.62%).