Trendlyne Analysis

Nifty 50 closed in the red with the Indian volatility index, India VIX rising 3.5%. Most Asian indices closed lower as investors prepare for the possibility of aggressive monetary tightening by the US Federal Reserve to fight inflation. US indices closed lower and bond yields jumped on Tuesday as Federal Reserve Governor Lael Brainard’s comments indicated a fast-track approach to raise interest rates. European indices trade in the red as investors monitor the effects of new sanctions on Russia by the West.

Nifty Midcap 100 closed in the green, despite the benchmark index ending the session lower. Nifty Metal closed sharply higher while Nifty pharma closed in the red. Nifty IT closed in the red, tracking the tech-heavy NASDAQ 100, which closed 2.24% lower on Tuesday.

Nifty 50 closed at 17,807.65 (-149.8, -0.8%), BSE Sensex closed at 59,610.41 (-566.1, -0.9%) while the broader Nifty 500 closed at 15,327.90 (-62.6, -0.4%)

Market breadth is in the green. Of the 1,892 stocks traded today, 1,167 were in the positive territory and 687 were negative.

• Suzlon Energy, Home First Finance Company India, IIFL Wealth Management, and Cera Sanitaryware are trading with higher volumes as compared to Tuesday.

• Competition Commission of India investigates the trustee units of State Bank of India, Axis Bank, and IDBI Bank for suspected collusion on fees, according to reports.

• Asian Development Bank expects the Indian economy to grow at 7.5% in FY23 and at 8% in FY24. It sees the current geopolitical uncertainty and any new COVID-19 outbreaks as key risks to these growth estimates. 

• Indian Energy Exchange achieves 16% YoY growth in volume to 9,605 million units volume comprising of 8,702 million units in the conventional power market, 392 million units in the green power market and 511 million units in the renewable energy certificate market in March 2022. In Q4FY22 the company achieves 27,017 million units of volume, up 16% YoY, and in FY22 1,02,035 units, up 38% YoY.

• Mahanagar Gas increases the prices of compressed natural gas by Rs 7 per kg to Rs 67 per kg and domestic piped natural gas by Rs 5 per scm (standard cubic metre) to Rs 41 per scm with effect from April 6, 2022, according to reports.

• Indraprastha Gas increases the prices of compressed natural gas by Rs 2.5 per kg for Delhi with effect from April 6, 2022, according to news reports. This is the third price hike taken by the company in April 2022. With this, CNG in Delhi now costs Rs 66.6 per kg.

• Power companies are trading higher with stocks like NTPC, Tata Power, Adani Power and Torrent Power rising. The broader sectoral index i.e. BSE Power is also trading in green today.

• Marico slips in trade as its Q4FY22 sales volume grows in low-single digits owing to weak rural demand and high inflation, according to the company's pre-result filing. Its flagship product Parachute Coconut Oil particularly registers a fall in sales volumes on YoY basis in Q4.

• TCI Express is trading with more than eleven times its weekly average trading volume. Shree Renuka Sugars, Solar Industries India, Kalpataru Power Transmissions, and IDBI Bank are trading at more than four times their weekly average trading volumes.

• Policybazaar's (PB Fintech) total insurance premium originating on its platform Policybazaar at the end of Q4FY22 grows 70% YoY to Rs 2,177 crore and disbursement of loans through its platform Policybazaar grows 72% YoY to Rs 2,189 crore. In FY22, insurance premium originating on its platform is up 46% YoY to Rs 6,975 crore, and loan disbursement through its platform by 126% YoY to Rs 6,607 crore.

• Paytm's (One97 Communications) total loan originating on its platform at the end of Q4FY22 grows 417% YoY to Rs 3,553 crore and total merchant payment volume processed grows 104% YoY to around Rs 2.59 lakh crore. The company's average monthly transacting users grow 41% YoY to 7.1 crore. In FY22, loans originating on its platform are up 441% YoY to Rs 7,623 crore and total merchant payment volume processed through its platform by 111% YoY to 8.52 lakh crore.

• Angel One is rising as its client base jumps 2.3 times YoY in Q4FY22 to 92.1 lakh. Number of orders grow 83.6% YoY to 21 crore with its retail turnover market share in the commodity segment increasing by 17 percentage points YoY to 42.2%.

• Bandhan Bank’s loan book at the end of Q4FY22 grows 16% YoY to Rs 1.01 lakh crore. Total deposits grow 24% YoY to Rs 96,331 crore, with retail deposits increasing 21% YoY to Rs 74,441 crore and CASA (current account savings account) deposits increasing 18% YoY to Rs 40,072 crore.

• Tata Steel’s production volumes fall 3% YoY to 7.5 million tonnes in Q4FY22 however, Tata Steel India’s production rises 3.2% YoY to 4.9 million tonnes. Tata Steel’s total deliveries rise 4.1% YoY to 7.8 million tonnes because of an increase in domestic demand from the automotive, retail, and industrial products sectors. Tata Steel India’s deliveries increase 9.6% to 5.1 million tonnes in Q4FY22.

Riding High:

Largecap and midcap gainers today include YES Bank Ltd. (14.70, 13.08%), IDBI Bank Ltd. (48.75, 7.85%) and Indian Hotels Company Ltd. (251.05, 6.56%).

Downers:

Largecap and midcap losers today include Ruchi Soya Industries Ltd. (755.25, -13.73%), Max Healthcare Institute Ltd. (346.85, -6.10%) and Marico Ltd. (521.30, -4.16%).

Crowd Puller Stocks

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

Top high volume gainers on BSE included YES Bank Ltd. (14.70, 13.08%), Vaibhav Global Ltd. (515.95, 11.73%) and MMTC Ltd. (53.30, 11.62%).

Top high volume losers on BSE were Ruchi Soya Industries Ltd. (755.25, -13.73%), Rain Industries Ltd. (195.95, -4.34%) and Gland Pharma Ltd. (3,335.60, -1.36%).

TCI Express Ltd. (1,849.30, 7.24%) was trading at 16.1 times of weekly average. Swan Energy Ltd. (262.00, 8.00%) and Kalpataru Power Transmissions Ltd. (403.80, 4.11%) were trading with volumes 13.1 and 7.1 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

29 stocks made 52-week highs,

Stocks touching their year highs included - Adani Power Ltd. (244.75, 5.00%), Bank of Baroda (119.90, 3.36%) and Blue Star Ltd. (1,148.10, 1.40%).

24 stocks climbed above their 200 day SMA including YES Bank Ltd. (14.70, 13.08%) and IOL Chemicals and Pharmaceuticals Ltd. (506.55, 11.77%). 8 stocks slipped below their 200 SMA including Marico Ltd. (521.30, -4.16%) and Housing Development Finance Corporation Ltd. (2,536.05, -3.34%).