News update 29th jun 2020

Markets close lower, although the Sensex and Nifty recovered some momentum in the afternoon. Nifty 50 closed at 10312.40 (-70.6, -0.7%) , BSE Sensex closed at 34961.52 (-209.8, -0.6%) while the broader Nifty 500 closed at 8488.05 (-71.0, -0.8%)

Market breadth is in the red. Of the 1667 stocks traded today, 566 were on the uptrend, and 1064 went down.

Avanti Feeds and AstraZeneca are among the top gainers in a muted market. AstraZeneca is forging ahead on news that its parent company is the leader of the pack when it comes to development of a COVID19 vaccine.

Axis Bank declined in share price today after ratings agency S&P Global Ratings lowered its ratings of the lender, citing rising covid-related economic risks for Indian banking.

Galaxy Surfactants is rising on high volumes post results.

HDFCSec retains its buy call on ITC, despite an earnings miss in the company's Q4.

Laurus Labs, Avanti Feeds seeing high volumes today.

Indian markets are sharply lower today on global worries of rising coronavirus cases. Nifty 50 was trading at 10310.15 (-72.9, -0.7%) , BSE Sensex was trading at 34920.64 (-250.6, -0.7%) while the broader Nifty 500 was trading at 8502.90 (-56.1, -0.7%). Market breadth is in the red. Of the 1541 stocks traded today, 584 were in the positive territory and 920 were negative.

Riding High:
Largecap and midcap gainers today include Vodafone Idea Ltd. (11.10, 6.73%), IDBI Bank Ltd. (42.00, 5.00%) and Edelweiss Financial Services Ltd. (59.85, 5.00%).

Downers:
Largecap and midcap losers today include Bharat Forge Ltd. (316.50, -10.21%), Ashok Leyland Ltd. (48.60, -7.34%) and Emami Ltd. (205.55, -6.97%).

Volume Rockets
19 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included Housing and Urban Development Corporation Ltd. (33.45, 19.89%), Avanti Feeds Ltd. (523.30, 10.97%) and AstraZeneca Pharma India Ltd. (3620.40, 8.15%).

Top high volume losers on BSE were Bharat Forge Ltd. (316.50, -10.21%), Future Consumer Ltd. (17.45, -4.90%) and Future Retail Ltd. (135.60, -4.78%).

Laurus Labs Ltd. (517.50, -4.46%) was trading at 14.6 times of weekly average. IFB Industries Ltd. (441.70, 5.02%) and Deepak Fertilisers & Petrochemicals Corporation Ltd. (115.85, -1.49%) were trading with volumes 10.2 and 5.4 times weekly average respectively on BSE at the time of posting this article.