Market closes higher, CMS Info Systems' Rs 1,100-crore IPO subscribed 1.95X on day 2

Trendlyne Analysis

Markets closed higher. Nifty 50 closed at 17,072.60 (117.2, 0.7%) , BSE Sensex closed at 57,315.28 (384.7, 0.7%) while the broader Nifty 500 closed at 14,751.45 (111.7, 0.8%)

Market breadth is in the green. Of the 1,830 stocks traded today, 1,177 were on the uptick, and 616 were down.

Suzlon Energy, Bayer Cropscience, Mahindra Holidays & Resorts India, and Honeywell Automation India are trading with higher volumes as compared to Wednesday.
ICICI Securities maintains its ‘Buy’ rating on Jindal Steel and also the target price of Rs 250 as the company reduces raw material imports to 30% from 60%. With the improving scope of scrap dealer ecosystem in India, locally available domestic scrap will further help reduce operational risks.
CMS Info Systems’ Rs 1,100-crore IPO gets bids for 1.95X of available 3.75 crore shares on offer. Retail investors bid for 2.15X of their quota of 1.87 crore shares on the second day of bidding. The offer comprises entirely of an offer for sale of Rs 1,110 crore.
Great Eastern Shipping Company surges in trade as its Board mulls a buy-back of equity shares in the board meeting to be held on December 27
Jubilant Foodworks rises as Morgan Stanley maintains its 'overweight' rating on the company owing to the high growth potential of organized food service industry in India and aggressive store expansion strategy of this QSR chain. The brokerage expects a target price upside of 47%
Macrotech Developers inks deal with Morgan Stanley Real Estate Investing to develop a premium warehousing project, near Mumbai, across 72 acres of land, for Rs 600 crore.
Great Eastern Shipping Company is trading with more than 16 times its weekly average trading volumes. MMTC, IOL Chemicals and Pharmaceuticals, and Radico Khaitan are trading with more than four times their weekly average trading volumes.
Kotak Mahindra Prime, an arm of Kotak Mahindra, acquires passenger vehicle financing loan portfolio of Ford Credit India (financing arm of Ford Motor Company). The acquisition gives the company access over 16,000 customers with a total outstanding loan of Rs 425 crore.
Indiabulls Real Estate's board approves fundraise of Rs 1,500 crore via one or more QIPs to fund future growth opportunities and meet its liquidity requirements.
ABB India's board approves the divestment of its turbocharger business for a consideration of Rs 310 crore. The company will sell this business to a wholly-owned subsidiary, on a slump sale basis, and seeks to complete the same by February 2022.
MedPlus Health's shares list at 27.5% premium to the issue price of Rs 796 on the bourses after getting bids for 52.5X of total shares on offer.
HDFC Mutual Fund acquires 9.9 lakh shares or 0.4% stake in Delta Corp in an insider trade and increases its holding in the company to 7.06% from 6.6%.
Upbeat trading today. Nifty 50 was trading at 17,104.50 (149.1, 0.9%) , BSE Sensex was trading at 57,465.53 (535.0, 0.9%) while the broader Nifty 500 was trading at 14,770.50 (0.89%).
Market breadth is ticking up strongly. Of the 1,818 stocks traded today, 1,315 showed gains, and 470 showed losses.

Riding High:

Largecap and midcap gainers today include Thermax Ltd. (1,766.05, 5.42%), Cholamandalam Investment & Finance Company Ltd. (539.65, 5.19%) and Macrotech Developers Ltd. (1,275.10, 5.18%).

Downers:

Largecap and midcap losers today include Zee Entertainment Enterprises Ltd. (338.15, -3.04%), The New India Assurance Company Ltd. (134.80, -2.07%) and Bajaj Holdings & Investment Ltd. (5,084.40, -1.93%).

Volume Shockers

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

Top high volume gainers on BSE included MMTC Ltd. (47.00, 9.81%), J B Chemicals & Pharmaceuticals Ltd. (1,701.10, 7.78%) and Great Eastern Shipping Company Ltd. (294.90, 7.51%).

Top high volume losers on BSE were The New India Assurance Company Ltd. (134.80, -2.07%), Maharashtra Scooters Ltd. (3,781.85, -1.26%) and Suzlon Energy Ltd. (7.75, -0.64%).

IOL Chemicals and Pharmaceuticals Ltd. (468.15, 6.02%) was trading at 6.7 times of weekly average. Radico Khaitan Ltd. (1,179.65, 5.40%) and Zydus Wellness Ltd. (1,889.30, 0.89%) were trading with volumes 5.2 and 4.8 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

6 stocks hit their 52-week highs,

Stocks touching their year highs included - Tech Mahindra Ltd. (1,683.80, 1.45%), Metropolis Healthcare Ltd. (3,242.30, -1.40%) and TCI Express Ltd. (2,383.30, -5.43%).

35 stocks climbed above their 200 day SMA including MMTC Ltd. (47.00, 9.81%) and Firstsource Solutions Ltd. (175.05, 9.30%). 6 stocks slipped below their 200 SMA including Future Retail Ltd. (51.85, -5.21%) and Future Consumer Ltd. (7.60, -2.56%).