Market closes lower, Supriya Lifesciences gets bids for 71X the total shares on offer on last day

Trendlyne Analysis

Gloom in markets in today's trading. Nifty 50 closed at 16,614.20 (-371, -2.2%) , BSE Sensex closed at 55,822.01 (-1189.7, -2.1%) while the broader Nifty 500 closed at 14,300.70 (-372.5, -2.5%)

Market breadth is sharply down. Of the 1,855 stocks traded today, 187 showed gains, and 1,645 showed losses.

Future Group stocks like Future Consumer, Future Supply Chain Solution, Future Retail, and Future Enterprises are rising on the bourses as CCI suspends its approval for Amazon’s 2019 investment in Future Coupons. Future Retail hits the upper circuit as the Future Group is likely to seek a termination of pending cases regarding the sale of its retail assets to Reliance Retail.
Mahanagar Gas increases the prices of compressed natural gas by Rs 2 per kg and piped natural gas by Rs 1.50 per standard cubic metre for the Mumbai Metropolitan Region with effect from December 17, 2021 midnight.
Supriya Lifesciences Rs 700-crore IPO gets bids for 71.46X of the available 1.45 crore shares on offer. Retail investors bid for over 55.71X their quota of 26.41 lakh shares on the last day of bidding. The offer comprises a fresh issue of Rs 200 crore and an offer for sale of Rs 500 crore.
Banks like Kotak Mahindra Bank, HDFC Bank, IndusInd Bank, ICICI Bank, Axis Bank, and State Bank of India are trading in red. The broader sectoral index Nifty Bank is also trading lower.
Edelweiss maintains a 'BUY' rating on MindTree as it expects the company to post a robust revenue growth of 25%+ between FY21-23E. The topline growth will be aided by the fast growing digital transformation business segment of the company. The brokerage expects a target price upside of 11%
Atul is trading with less than four times its weekly average trading volumes. Aster DM Healthcare, Bharat Forge, and Honeywell Automation India are trading with less than three times their weekly average trading volumes.
Piramal Enterprises’ Executive Director and Group Chief Financial Officer Rajesh Laddha resigns from the company on December 17, 2021 to pursue his own entrepreneurial venture. His resignation is effective from February 10, 2022.
Hindalco to buy Norwegian firm Hydro’s 15,000-tonne Kuppam aluminum extrusions plant for an enterprise value of Rs 247 crore. The acquisition will Hindalco expand its presence in the southern market and boost its revenue from value-added products.
Shriram Properties’ shares list at 23% discount to the issue price of Rs 118 on the bourses after getting bids for 4.6X of total shares on offer.
Cipla rises on the bourses after it receives US FDA approval for its Lanreotide injection. The company will be able to strengthen its gastroenterology segment offerings in the US market through this approval.
Goldman Sachs Funds, an affiliate of Goldman Sachs Group, purchases 7.19 lakh shares in RateGain Travel Technologies for Rs 361.7 in a bulk deal on Friday.
Markets are trading on a low note. Nifty 50 was trading at 16,445.00 (-540.2, -3.2%) , BSE Sensex was trading at 55,401.75 (-1610.0, -2.8%) while the broader Nifty 500 was trading at 14,146.20 (-527.0, -3.6%)
Market breadth is sharply down. Of the 1,843 stocks traded today, 121 showed gains, and 1,703 showed losses.

Riding High:

Largecap and midcap gainers today include Cipla Ltd. (893.80, 3.91%), Alembic Pharmaceuticals Ltd. (764.25, 2.16%) and Bayer Cropscience Ltd. (4,913.15, 1.80%).

Downers:

Largecap and midcap losers today include Au Small Finance Bank Ltd. (999.50, -9.87%), Oil India Ltd. (172.40, -9.26%) and Macrotech Developers Ltd. (1,075.00, -9.22%).

Volume Rockets

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

Top high volume gainers on BSE included Future Retail Ltd. (57.50, 19.92%), Future Consumer Ltd. (8.20, 19.71%) and Tasty Bite Eatables Ltd. (14,269.75, 14.38%).

Top high volume losers on BSE were Au Small Finance Bank Ltd. (999.50, -9.87%), Firstsource Solutions Ltd. (154.50, -7.49%) and Hawkins Cookers Ltd. (5,556.75, -7.03%).

WABCO India Ltd. (7,893.90, -3.20%) was trading at 5.2 times of weekly average. Dilip Buildcon Ltd. (464.55, -6.19%) and City Union Bank Ltd. (134.90, -3.64%) were trading with volumes 5.1 and 4.9 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

29 stocks hit their 52-week lows.

Stocks making new 52 weeks lows included - Akzo Nobel India Ltd. (1,965.90, -1.26%) and Amara Raja Batteries Ltd. (591.40, -4.35%).

3 stocks climbed above their 200 day SMA including Future Retail Ltd. (57.50, 19.92%) and Future Consumer Ltd. (8.20, 19.71%). 93 stocks slipped below their 200 SMA including Au Small Finance Bank Ltd. (999.50, -9.87%) and Dishman Carbogen Amcis Ltd. (188.70, -8.53%).