Trendlyne Analysis

Nifty 50 closed sharply lower losing 4.78% with Indian volatility index, India VIX soaring 30% as Russian forces attack targets across Ukraine after President Vladimir Putin ordered an operation to demilitarize the country. All other Asian indices closed in the red with the Hong Kong index, Hang Seng falling 3.2%. Russian Index plunged 50% at open fearing global sanctions.

All broader market indices close sharply lower with Nifty Smallcap 100 plunging over 6% to close in the red. Nifty PSU Bank closed over 8% lower than Wednesday's levels. Nifty IT closed sharply lower in line with the tech-heavy NASDAQ 100 futures, which is trading in the red.

Markets fell in today's trading. Nifty 50 closed at 16,247.95 (-815.3, -4.8%), BSE Sensex closed at 54,529.91 (-2,702.2, -4.7%) while the broader Nifty 500 closed at 13,775.70 (-731.3, -5.0%)

Market breadth is moving down. Of the 1,862 stocks traded today, 48 were in the positive territory and 1,811 were negative.

• AIA Engineering, Gujarat Pipavav Port, Ajanta Pharma, and Cera Sanitaryware are trading with higher volumes as compared to Wednesday.

• AUM Capital recommends 'Buy' on Deepak Fertilizers and Petrochemicals Corp. with a target price of Rs 627 on the back of a diversified product portfolio, market leadership in key segments, and an astounding demand outlook.

• ICICI Securities maintains a ‘BUY’ rating on Crompton Greaves Consumer Electricals with a target price of Rs 504, indicating an upside of 24.8%. The brokerage expects a net profit CAGR of 8.6% over FY21-FY24E considering the 5% revenue synergy benefits from the acquisition of a 55% stake in Butterfly Gandhimathi Appliances for Rs 1,379.7 crore

• Dabur partners with Indian Oil Corp to extend distribution of its entire bouquet of products to over 140 million Indian households. As a part of this arrangement, Indian Oil’s Indane LPG distributors will become new channel partners for this FMCG major and will aid it in expanding its market reach.

• Oil and Gas stocks like Indraprastha Gas, Mahanagar Gas, Gujarat Gas and Petronet LNG are falling in trade today. This reaction comes after the brent crude oil hit $100/bbl mark for the first time since 2014 due to instensifying conflict between Russia and Ukraine.

• Indus Towers is trading with less than 44 times its weekly average trading volume. Amara Raja Batteries, Sanofi India, Ujjivan Small Finance Bank, and Macrotech Developers are trading at less than three times their weekly average trading volumes.

• PB Fintech is falling and hits a new low after CEO Yashish Dahiya, and CFO Alok Bansal, sold 6.09 million shares of the company via secondary market sale.

• Bosch acquires a minority 26% stake in B2B eCommerce auto spares, garage equipment, and accessories Autozilla Solutions. The Hyderabad-based firm focuses on making procurement of spare parts hassle-free and digitally enabled. The acquisition of a minority stake allows Bosch to participate in a digital B2B marketplace for the independent aftermarket (IAM) in the domestic market, which helps it in easing auto spares procurement.

• Sanofi India’s Q3FY22 profit falls 36% YoY to Rs 90.4 crore and revenues decrease by 4.5% to Rs 688 crore. The company declares a dividend of Rs 490 per share, which includes a special dividend of Rs 309 per share on the back of divestments

• Tata Sons is looking to divest around 8% stake in Indian Hotels Company in the coming two weeks, according to reports. The promoter group will reduce its stake to 33% from 41% as a part of a Rs 2,000 crore qualified institutional placement.

• PNC Infratech wins three new hybrid annuity modeled (HAM) national highway projects from NHAI worth Rs 4,384 crore. The company will complete these projects in next 2.5 years and operate these highways for 15 years post completion.

• Vodafone Group plans to sell around 5% stake in Indus Towers to Bharti Airtel and use the proceeds for Vodafone Idea’s fundraising. The stake sale is valued around Rs 3,300 crore. Vodafone eventually plans to sell its entire stake of 28.1% (worth Rs 19,000 crore) in Indus Towers.

Riding High:

Largecap and midcap gainer today include Godrej Industries Ltd. (509.70, 1.70%).

Downers:

Largecap and midcap losers today include Indus Towers Ltd. (206.00, -18.14%), Punjab National Bank (32.00, -14.32%) and Bank of India (44.25, -13.24%).

Volume Shockers

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

Top high volume gainers on BSE included Dhanuka Agritech Ltd. (711.10, 4.34%), Godrej Industries Ltd. (509.70, 1.70%) and Prism Johnson Ltd. (118.45, 0.34%).

Top high volume losers on BSE were Indus Towers Ltd. (206.00, -18.14%), Punjab National Bank (32.00, -14.32%) and Rain Industries Ltd. (182.50, -14.14%).

Amara Raja Batteries Ltd. (523.70, -10.75%) was trading at 5.4 times of weekly average. Ujjivan Small Finance Bank Ltd. (15.30, -10.53%) and Natco Pharma Ltd. (763.65, -7.43%) were trading with volumes 4.7 and 4.5 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

97 stocks were underachievers and hit their 52-week lows.

Stocks making new 52 weeks lows included - 3M India Ltd. (20,568.20, -3.04%) and Aegis Logistics Ltd. (181.45, -7.71%).

73 stocks slipped below their 200 SMA including Alok Industries Ltd. (21.90, -12.57%) and HFCL Ltd. (63.85, -11.50%).