Trendlyne Marketwatch
Trendlyne Marketwatch
27 Dec 2023
Market closes higher, holding gains
By Trendlyne Analysis

Nifty 50 closed at 21,654.75 (213.4, 1%), BSE Sensex closed at 72,038.43 (701.6, 1.0%) while the broader Nifty 500 closed at 19,296.95 (148.1, 0.8%), of the 2,026 stocks traded today, 1,001 were on the uptick, and 980 were down.

Indian indices maintained their gains from the afternoon session and closed in the green, with the benchmark Nifty 50 closing at 21,655 points. The Indian volatility index, Nifty VIX, rose 6% and closed at 15.6 points. Aarti Industries touched its 52-week high and closed 1.7% higher after securing a long-term supply contract with a global agrochem major, offering a revenue potential of nearly Rs 3,000 crore.

Nifty Midcap 100 and Nifty Smallcap 100 closed flat, despite the benchmark index closing in the green. Nifty Bank and Nifty Metal closed higher than their Tuesday close. According to Trendlyne's sector dashboard, Healthcare Equipment & Supplies was the top-performing sector of the day as it rose 2.8%.

Major European indices traded in the green, taking cues from the Asian indices. US index futures traded flat, indicating a cautious start to the trading session. Brent crude oil futures traded flat after rising 2.2% on a volatile day on Tuesday.

  • Godrej Consumer Products sees a long buildup in its December 28 future series as its open interest rises 33.6% with a put-call ratio of 0.8.

  • 3M India surges over 10% to an all-time high of Rs 34,799.9 and ranks high on Trendlyne's checklist with a score of 77.3%. The stock is in the strong buy zone. It appears in a screener of stocks with improving cash flow from operations.

  • Suzlon Energy rises as it receives an order for its 3 MW series generators, amounting to 100.8 MW, from Mahindra Susten. The company appears in a screener of stocks with growing net profit and margins.

  • Sectors like utilities, commercial services & supplies, forest materials and transportation rise more than 17% in the past month.

  • Swan Energy is rising as 48.6 lakh shares (1.9% equity), amounting to Rs 244 crore, change hands, according to reports.

  • Aurobindo Pharma rises as its subsidiary Eugia Pharma Specialities receives US FDA approval to manufacture and market Posaconazole Injection. The drug is used in the treatment of fungal diseases in adults and has a market size of $25.4 million (Rs 211.6 crore).

  • IDFC receives 'No Objection' from the Reserve Bank of India for the proposed composite scheme of amalgamation of IDFC Financial Holding into and with IDFC, and IDFC into and with IDFC First Bank.

  • ICICI Prudential Life Insurance receives a GST demand notice for Rs 269.8 crore, including interest and penalty, for FY18 from the Deputy Commissioner of State Tax, Maharashtra.

  • Kamal Khushlani, CMD of Credo Brands Marketing, forecasts the company's revenue to hit approximately Rs 600 crore with a 30% margin in FY24. He also highlights the company’s target to double its revenue in the next 4-5 years. Credo Brands’ shares debuted on the bourses today at a 0.8% premium to the issue price of Rs 70.

  • PSU bank stocks like Bank of Baroda, Union Bank of India, Punjab National Bank and Indian Bank are rising in trade. The broader sectoral index Nifty PSU Bank is also trading in the green.

  • NBCC rises as it bags an order worth Rs 150 crore from Steel Authority Of India (SAIL) ISP, Burnpur for civil and various types of infrastructure works in the plant and township.

  • Coromandel International falls following an ammonia gas leak at its fertilizer manufacturing facility in Chennai, resulting in multiple hospitalizations.

  • Emkay Global initiates coverage on Tejas Networks with a ‘Buy’ rating and a target price of Rs 1,050. The brokerage believes that the company will secure orders worth at least Rs 29,200 crore over FY24-28E. It also foresees Tejas Networks’ revenues reaching Rs 30,000 crore, led by the BSNL and Bharatnet projects.

  • Nifty 50 hits an all-time high of 21,603.4 today after rising for four consecutive days.

  • Cupid rises to an all-time high of Rs 1,016.2 as Universal-Halwasiya Group acquires an additional 26% stake (35 lakh shares) for Rs 325 per share, amounting to Rs 113 crore. The company appears in a screener of stocks with strong annual EPS growth.

  • Larsen & Toubro's construction arm wins an engineering, procurement and construction order worth Rs 5,000-10,000 crore to establish renewable energy generation, power utilities and water systems for an ultra-luxury tourism destination in Saudi Arabia.

  • India's current account deficit narrows to $8.3 billion, equivalent to 1% of GDP in Q2FY24, compared to 3.8% in Q2FY23. This is due to a lower merchandise trade deficit and a rise in services exports.

  • Happy Forgings’ shares debut on the bourses at a 17.6% premium to the issue price of Rs 850. The Rs 1,008.6 crore IPO has received bids for 82 times the total shares on offer.

  • Aarti Industries touches a 52-week high after securing a long-term supply contract with a global agrochem major, offering a revenue potential of nearly Rs 3,000 crore. It appears on a screener for stocks with strong momentum.

  • Vishnu Prakash R Punglia rises to an all-time high of Rs 242 as it bags orders worth Rs 899 crore from the Uttarakhand government. The orders involve the development, operation, and maintenance of water supply systems in various parts of the state.

  • Nomura has a ‘Buy’ rating on UltraTech Cement, Dalmia Bharat, The Ramco Cements and Shree Cements, and ‘Reduce’ on Ambuja Cements. The brokerage expects strong growth in sales volume in H2FY24. It also sees an improvement in margins driven by robust volumes, pricing discipline and lower fuel costs.

  • Cera Sanitaryware's Executive Director, Ayush Bagla, tenders his resignation to pursue new avenues. His resignation will be effective from March 31, 2024.

  • Kansai Nerolac Paints rises to a new 52-week high of Rs 357.3 as it plans to sell a land parcel worth Rs 726 crore in Mumbai's Lower Parel to Aethon Developers. The company appears in a screener of stocks with improving book value per share.

  • Mathew Cyriac buys a 0.5% stake in Indiabulls Housing Finance for approx Rs 53.4 crore in a bulk deal on Tuesday.

  • SJVN rises as it bags an order worth Rs 550 crore from Gujarat Urja Vikas Nigam. The order involves the construction and operation of a 100 MW solar power plant. The company appears in a screener of stocks with strong momentum.

Riding High:

Largecap and midcap gainers today include 3M India Ltd. (36,389.95, 15.72%), Sona BLW Precision Forgings Ltd. (614.50, 6.16%) and Life Insurance Corporation of India (821.40, 5.13%).

Downers:

Largecap and midcap losers today include Vedanta Ltd. (252.40, -3.55%), Cummins India Ltd. (1,983.60, -2.15%) and REC Ltd. (410.50, -2.03%).

Volume Shockers

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

Top high volume gainers on BSE included 3M India Ltd. (36,389.95, 15.72%), Housing and Urban Development Corporation Ltd. (114.00, 8.06%) and Sona BLW Precision Forgings Ltd. (614.50, 6.16%).

Top high volume loser on BSE was Coromandel International Ltd. (1,244.90, -1.45%).

Kansai Nerolac Paints Ltd. (337.55, 3.78%) was trading at 24.1 times of weekly average. HEG Ltd. (1885.60, 4.86%) and Poly Medicure Ltd. (1,522.75, 5.56%) were trading with volumes 6.2 and 5.9 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

63 stocks made 52 week highs,

Stocks touching their year highs included - 3M India Ltd. (36,389.95, 15.72%), Ajanta Pharma Ltd. (1,997.45, 0.54%) and Amara Raja Energy & Mobility Ltd. (811.80, 5.50%).

1 stock climbed above their 200 day SMA including Alkyl Amines Chemicals Ltd. (2,522.65, -1.88%). 7 stocks slipped below their 200 SMA including Vedanta Ltd. (252.40, -3.55%) and G R Infraprojects Ltd. (1,161.20, -2.01%).

 
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