Gloom in markets in today's trading. Nifty 50 closed at 11250.55 (-254.4, -2.2%) , BSE Sensex closed at 38034.14 (-811.7, -2.1%) while the broader Nifty 500 closed at 9313.00 (-246.5, -2.6%)
Market breadth is highly negative. Of the 1690 stocks traded today, 200 were on the uptrend, and 1441 went down.
Schaeffler India, AIA Engineering, Aegis Logistics, Orient Electric and Atul are trading in the red with rising delivery volume.
Edelweiss maintains a long-term 'Buy' rating on Zydus Wellness citing the consumer goods company's innovation focus with Heinz which it acquired in FY19.
The promoter group of Action Construction Equipment has been steadily reacquiring the company's equity. Last week over 4.2 lakh shares in the construction manufacturing company were reacquired.
Bandhan Bank, ICICI Bank, Induslnd Bank, Axis Bank, and State Bank of India are in the red as banking stocks trade lower.
Chemcon Speciality Chemicals IPO fully subscribed on day 1. The pharma and oil well chemical manufacturer looks to raise Rs. 318 crores through its fresh issue.
Gujarat Pipavav Port, Elgi Equipments, and Rajesh Exports are trading in the green with volumes higher than the weekly average.
IT-stocks surge led by HCL Technologies, MindTree, Oracle Financial Services, Infosys, and Tech Mahindra.
Route Mobile lists at Rs. 708 per share, a premium of 102% against its IPO price of Rs. 350 per share.
HDFC Securities is a 'Buy' on ITD Cementation and an 'Accumulate' on Dr. Reddy's Laboratories citing the construction engineering company's strong execution and cost control and the pharmaceutical company's resilient US pipeline.
HCL Technologies is rising as the tech-company acquires DWS an Australia-based IT service management company.
Nippon India Mutual Fund and Goldman Sachs India fund acquire over 3.9 lakh shares in chemical manufacturing company Valiant Organics.
Nifty 50 was trading at 11524.50 (19.6, 0.2%) , BSE Sensex was trading at 38913.97 (68.2, 0.2%) while the broader Nifty 500 was trading at 9572.10 (12.6, 0.1%)
Market breadth is in the green. Of the 1541 stocks traded today, 782 showed gains, and 651 showed losses.
Riding High:
Largecap and midcap gainers today include Supreme Industries Ltd. (1460.95, 2.80%), Oracle Financial Services Software Ltd. (3028.00, 1.25%) and Kotak Mahindra Bank Ltd. (1287.85, 0.84%).
Downers:
Largecap and midcap losers today include Indiabulls Housing Finance Ltd. (154.70, -13.38%), Jindal Steel & Power Ltd. (173.00, -12.76%) and IndusInd Bank Ltd. (560.95, -8.52%).#NIFTY50 #NIFTYBANK