The Midday Market View: Exuberance continues

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Upbeat trading has continued into the day, as the Sensex is trading 0.51% higher.
Market breadth is neutral. Of the 2724 stocks traded today, 1323 showed gains, and 1219 showed losses.
Riding High:
Largecap and midcap gainers today include Adani Power Limited (32.55 7.43%), Shriram City Union Finance Limited (2318.00 5.27%) and Punjab National Bank (175.55 5.15%). Telecom stocks are also trading higher, with gains for Bharti Airtel and Idea. The government has announced an inter-ministerial panel to recommend policy prescriptions to rescue the debt-ridden sector, with companies ailing after the run of freebies offered by Reliance Jio. 
Downers:
Largecap and midcap losers today include Godrej Consumer Products Limited (1879.20 -2.45%), Hindustan Zinc Limited (251.20 -2.12%) and Bharat Financial Inclusion Limited(SKS) (793.20 -2.07%).
Movers and Shakers
14 stocks in BSE 500 are trading on high volumes today.
Top high volume gainers on BSE included Avanti Feeds Limited (1226.00 13.73%), The Jammu & Kashmir Bank Limited (89.30 9.50%) and Adani Power Limited (32.55 7.43%).
Top high volume losers on BSE were Asahi India Glass Limited (244.00 -4.63%), K.P.R. Mill Limited (758.95 -0.79%) and CRISIL Limited (1865.95 -0.40%).
HCL Technologies Limited (851.50 0.04%) was trading at 92.6 times of weekly average. Century Plyboards (India) Limited (266.95 0.15%) and Allcargo Logistics Limited (187.50 1.24%) were trading with volumes 23.3 and 15.7 times weekly average respectively on BSE at the time of posting this article.
BSE 500:  highs, lows and moving averages
38 stocks made 52 week highs, while 2 stocks hit their 52 week lows.
Stocks touching their year highs included - Aarti Industries Limited (962.15 3.36%), Adani Transmission (99.90 4.99%) and Alstom T&D India Limited (377.25 3.90%).
Stocks making new 52 weeks lows included - Clariant Chemicals (India) Limited (622.00 -1.94%) and Sunrise Asian Limited (2.26 0.00%).
11 stocks climbed above their 200 day SMA including Adani Power Limited (32.55 7.43%) and Unitech Limited (5.90 5.92%). 4 stocks slipped below their 200 SMA including Cholamandalam Investment and Finance Company Limited (1032.45 -1.62%) and Info Edge (India) Limited (849.00 -1.05%).


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