Trendlyne Analysis

Nifty 50 fell over 150 points and closed 1% lower amid selling pressure towards the end of the trading session. The volatility index, Nifty VIX, rose above 18.5%. European stocks followed the global trend and traded lower than Monday’s levels. Major Asian indices closed lower, tracking the US indices, which closed in the red on Monday. US stocks fell as investors await the crucial inflation print release on Wednesday. The tech-heavy index, NASDAQ 100, fell 2.2% while the S&P 500 closed 1.2% lower on Monday. Crude oil fell over concerns about another wave of lockdowns in China as Shanghai discovers first case of Omicron sub-variant.

Nifty Smallcap 100 and Nifty Midcap 100 closed in the red, following the benchmark index. Nifty Pharma and Nifty FMCG closed lower than Monday’s levels. Nifty IT, which fell over 3% on Monday, closed lower tracking the NASDAQ 100, which fell 2.2% on Monday.

Nifty 50 closed at 16,058.30 (-157.7, -1.0%), BSE Sensex closed at 53,886.61 (-508.6, -0.9%) while the broader Nifty 500 closed at 13,779.00 (-107.9, -0.8%)

Market breadth is in the red. Of the 1,888 stocks traded today, 744 showed gains, and 1,073 showed losses.

• KEI Industries, ZF Commercial Vehicle Control Systems India, Kalpataru Power Transmissions, and Fortis Healthcare are trading with higher volumes  as compared to Monday.

• MindTree sees a long build-up in its July 28 future series as its open interest rises 10.9% with put to call ratio of 0.59.

• Rail Vikas Nigam rises in trade after the RVNL-SP Singla Constructions consortium receives a letter of acceptance from National Highways Authority of India (NHAI) for the construction of 4 laning of NH-5 from Kaithlighat to Shakral Village in Himachal Pradesh. The total estimated cost of the project is Rs 1,844.77 crore.

  #JustIN | Rail Vikas Nigam bags order of Rs 1,845 cr from NHAI pic.twitter.com/HpQKLdkBVP

  — CNBC-TV18 (@CNBCTV18Live) July 12, 2022

• Stocks like Hinduja Global Solutions, Ceat, Endurance Technologies, and Siemens  are in the overbought  zone according to the technical indicators relative strength index or RSI and money flow index or MFI.

• Star Health & Allied Insurance Co rises after announcing its partnership with Common Services Centres (CSC), under the Ministry of Electronics & Information Technology. The purpose of this partnership is to provide over 5 lakh CSCs access to Star Health’s insurance products. The company expects this partnership to increase its penetration into rural India and aid in market share growth.

• Utility stocks like Adani Green Energy, Adani Power, NLC India, NHPC, and JSW Energy, among others, are rising in trade. The broader sectoral index S&P BSE Utilities is also trading in the green.

• SpiceJet falls after its Managing Director, Ajay Singh, gets booked over allegations of duping a businessman on the pretext of allotting him company shares, according to reports. The complainant Amit Arora says that Ajay gave a fake depository instruction slip (DIS) of shares worth Rs 10 lakh. The company however denies these allegations and plans to file a defamation case against Amit Arora.

• NMDC is falling as it cuts prices of lump ore and fines by Rs 500 each. Effective from today it sets the price of lump ore at Rs 3,900 per tonne and fines at Rs 2,810 per tonne. This is the second price cut in two months.

• ITI is trading with more than 20 times its weekly average trading volume. Symphony, HFCL, Indus Towers, and NOCIL are trading at more than three times their weekly average trading volumes.

• HDFC Securities maintains its ‘Sell’ rating on Avenue Supermarts despite the company’s profit rising more than 6X YoY in Q1FY23. The brokerage sets a target price of Rs 2,700, indicating a downside of 31.5%. It remains negative on the prospects of the company given the intense competition it faces in the industry. The company’s footfalls and sales density remaining below pre-pandemic levels is a key concern for the brokerage.

• Bharti Airtel, Vodafone Idea, Reliance Jio and Adani Data Networks to participate in the 5G Spectrum auction, set to commence on July 26.

  As per @DoT_India, Vodafone Idea, Bharti Airtel, Adani and Reliance Jio applied to take part in the spectrum auction @Daanish_Anand @GoI_MeitY #Telecom #5G pic.twitter.com/pGb1JvDQiF

  — ET NOW (@ETNOWlive) July 12, 2022

• Nomura Singapore buys 12.5 lakh shares (0.6% stake) in BLS International at an average price of Rs 214 per share in a bulk deal on Monday.

• Ahluwalia Contracts rises after securing a contract of construction work of Amity Campus in Bengaluru worth Rs 150 crore. Total order inflow for the company stands at Rs 863 crore in FY23.

• Bosch to invest Rs 200 crore in Indian markets over the next five years in building advance technologies and digital mobility space, according to the management. It also plans to support OEMs by building partnerships and becoming a major player in the electrification market space. In its annual meeting held on Monday, the company also hints toward a double-digit growth in FY23.

• HCL Technologies falls to a new 52-week low of Rs 926 per share ahead of declaring its results today. The stock is falling for three consecutive sessions.

• Pharma stocks like Sun Pharmaceutical Industries, Divi's Laboratories, Cipla, Biocon, Zydus Lifesciences, Alkem Laboratories, Aurobindo Pharma, among others are falling in trade. The broader sectoral index Nifty Pharma is also trading in the red.

• HFCL rises after receiving purchase orders worth Rs 59.2 crore from a private telecom operator. The order involves the rolling out of the fibre-to-the-home network and long-distance fibre networks in many cities across the country.

• Indian rupee falls to another record low of 79.57 against the US dollar in early trade as foreign investors pull out up to Rs 4,000 crore from Indian equities in July.

  Rupee weakens sharply to 79.57 per dollar, a new record low and just a whisker away from 80/$ pic.twitter.com/71pqUGt029

  — NDTV (@ndtv) July 12, 2022

• Trident falls in trade as its June production volumes fall during the month. Bath linen production is down 23.6% YoY to 3,333 metric tonnes (MT), while bed linen and yarn production are down 30.3% YoY to 1.95 million metres and 14.6% YoY to 9,587 MT, respectively. The company’s paper and chemical division's production volumes also falls, with paper volumes down 1.6% YoY to 12,500 MT and chemicals by 9.8% YoY to 7,673 MT.

• Advent International partners with Pratik Pota and appoints him as the MD & CEO of its portfolio company ‘Eureka Forbes’. His term is for a period of five years, effective August 16, 2022. Before this, Pratik was the CEO at Jubilant Foodworks and also worked with brands like PepsiCo, Airtel, and Hindustan Unilever.

• Sunteck Realty’s Q1FY23 bookings rise 89% YoY to Rs 333 crore. The company’s collections increase 66% YoY to Rs 285 crore with a collection efficiency of 86%. The company says that new project launches will drive bookings and cashflows in the coming quarters.

Riding High:

Largecap and midcap gainers today include Zomato Ltd. (59.00, 5.17%), Adani Green Energy Ltd. (2,294.75, 3.96%) and Indus Towers Ltd. (221.65, 3.91%).

Downers:

Largecap and midcap losers today include NMDC Ltd. (103.20, -5.32%), REC Ltd. (124.15, -4.87%) and Hindustan Petroleum Corporation Ltd. (234.00, -3.72%).

Crowd Puller Stocks

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

Top high volume gainers on BSE included ITI Ltd. (114.30, 16.63%), Vakrangee Ltd. (29.80, 13.31%) and Balaji Amines Ltd. (3,106.15, 5.72%).

Top high volume losers on BSE were Rites Ltd. (231.90, -3.01%), Symphony Ltd. (876.40, -0.66%) and Apollo Hospitals Enterprise Ltd. (3,929.70, -0.09%).

Indus Towers Ltd. (221.65, 3.91%) was trading at 6.1 times of weekly average. HFCL Ltd. (65.85, 5.28%) and Adani Green Energy Ltd. (2,294.75, 3.96%) were trading with volumes 5.9 and 4.2 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

4 stocks took off, crossing 52-week highs, while 2 stocks hit their 52-week lows.

Stocks touching their year highs included - Blue Dart Express Ltd. (7,881.65, -2.63%), Mahindra & Mahindra Financial Services Ltd. (204.05, 1.47%) and Adani Total Gas Ltd. (2,797.55, 2.98%).

Stocks making new 52 weeks lows included - HCL Technologies Ltd. (927.80, -1.67%) and Gland Pharma Ltd. (2,486.30, -0.40%).

13 stocks climbed above their 200 day SMA including ITI Ltd. (114.30, 16.63%) and Galaxy Surfactants Ltd. (3,004.25, 3.84%). 12 stocks slipped below their 200 SMA including Responsive Industries Ltd. (139.65, -2.89%) and Cholamandalam Investment & Finance Company Ltd. (620.20, -2.80%).