Trendlyne Analysis

Nifty 50 closed at 17,248.40 (27, 0.2%) , BSE Sensex closed at 57,901.14 (113.1, 0.2%) while the broader Nifty 500 closed at 14,936.45 (-16.7, -0.1%)

Market breadth is sharply down. Of the 1,826 stocks traded today, 574 were gainers and 1,225 were losers.

• Sundaram Finance, eClerx Services, Cholamandalam Financial Holdings, and Gujarat Pipavav Port are trading with higher volumes as compared to Wednesday.

• HP Adhesives’ Rs 126 crore IPO gets bids for 8X of the available 25.28 lakh shares on offer on the second day of bidding. Retail investors bid for 40X 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.

• Gujarat Fluorochemicals falls after reports of explosion inside the MPI-1 unit of the refrigerant production factory at company's Halol plant in Panchmahal, Gujarat.

• Reliance Industries is rising as Competition Commission of India okays its 40% stake buy in Sterling and Wilson Solar through its arm Reliance New Energy Solar. As part of the deal, the company can acquire an additional 7% stake in Sterling and Wilson Solar

• Supriya Lifesciences' Rs 700 crore IPO gets bids for over 2.3X of its available 1.45 crore shares on offer. Retail investors bid for over 11.6X their quota of 14.5 lakh shares on the first day of bidding. The offer comprises of a fresh issue of Rs 200 crore and an offer for sale of Rs 500 crore.

• Data Patterns India's Rs 588.22 crore IPO gets bids for over 119.6X of its available 71 lakh shares on offer. Retail investors bid for over 23.1X their quota of 24.83 lakh shares on the last day of bidding. The offer comprises of a fresh issue of Rs 240 crore and an offer for sale of Rs 348.22 crore.

• Adani Transmission inks a share purchase agreement with Adani Ports and Special Economic Zone to acquire 1.3 crore (100%) shares of MPSEZ Utilities for Rs 116.27 crore.

• IT services stocks are trading higher with companies like Larsen & Toubro Infotech, Infosys, Wipro, and Tech Mahindra rising in trade. The sectoral index Nifty IT is also 1% up today

• Motilal Oswal Financial Services is trading with more than seven times its weekly average trading volumes. Mahindra Logistics, Hikal, and Rashtriya Chemicals & Fertilizers are trading with more than four times their weekly average trading volumes.

• Supriya Lifesciences raises Rs 315 crore ahead of its IPO by selling 1.15 crore shares at Rs 274 apiece to anchor investors, including, BNP Paribas Arbitrage, Societe Generale, Reliance General Insurance Company, Aditya Birla Sun Life Insurance Company, Saint Capital Fund and Nippon India Mutual Fund

• Wipro is rising after it signs an agreement to acquire a US-based ERP and e-commerce solutions company LeanSwift Solutions. Wipro is looking to grow its cloud transformation business segment through this deal.

• TVS Motor Company extends and expands its long-term partnership with BMW Motorrad to jointly develop new platforms and future technologies, including electric vehicles. The first product of this union will be showcased within 24 months.

• Power Grid Corporation approves an interim dividend of Rs 7 per share. The total dividend outgo for the company will be Rs 4,915.3 crore out of which Government of India will receive Rs 2,506.8 crore in its kitty. The record date is December 23, 2021.

• Markets are up today morning. Nifty 50 was trading at 17,320.15 (98.8, 0.6%) , BSE Sensex was trading at 58,077.78 (289.8, 0.5%) while the broader Nifty 500 was trading at 15,026.15 (73.1, 0.5%)

• Market breadth is ticking up strongly. Of the 1,748 stocks traded today, 1,214 were in the positive territory and 487 were negative.

Riding High:

Largecap and midcap gainers today include Godrej Industries Ltd. (604.60, 4.01%), Bajaj Finance Ltd. (7,028.85, 2.65%) and SRF Ltd. (2,216.40, 2.65%).

Downers:

Largecap and midcap losers today include Torrent Power Ltd. (557.40, -6.88%), Bajaj Holdings & Investment Ltd. (5,137.50, -6.22%) and TVS Motor Company Ltd. (636.60, -5.52%).

Crowd Puller Stocks

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

Top high volume gainers on BSE included Swan Energy Ltd. (153.10, 7.93%), Godrej Industries Ltd. (604.60, 4.01%) and Intellect Design Arena Ltd. (714.15, 3.73%).

Top high volume losers on BSE were Gujarat Fluorochemicals Ltd. (2,192.80, -8.44%), IIFL Wealth Management Ltd. (1,427.95, -7.37%) and Torrent Power Ltd. (557.40, -6.88%).

Mahindra Logistics Ltd. (674.90, 2.06%) was trading at 9.7 times of weekly average. Motilal Oswal Financial Services Ltd. (979.80, 2.79%) and Bayer Cropscience Ltd. (4,749.15, 0.07%) were trading with volumes 8.8 and 7.5 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

9 stocks overperformed with 52-week highs, while 3 stocks hit their 52-week lows.

Stocks touching their year highs included - Grindwell Norton Ltd. (1,855.20, 0.69%), KPR Mill Ltd. (604.40, 6.95%) and Persistent Systems Ltd. (4,503.70, 2.74%).

Stocks making new 52 weeks lows included - Mahanagar Gas Ltd. (890.15, -1.11%) and Strides Pharma Science Ltd. (455.25, -2.50%).

9 stocks climbed above their 200 day SMA including Swan Energy Ltd. (153.10, 7.93%) and Intellect Design Arena Ltd. (714.15, 3.73%). 20 stocks slipped below their 200 SMA including Varroc Engineering Ltd. (330.45, -4.05%) and IDFC Ltd. (51.80, -3.54%).