Produced by: Aseem Thapliyal
The domestic equity market was trading higher in the afternoon session today. Sensex rose 243 pts to 74,147 and Nifty gained 63 pts to 22,516. Market cap of BSE-listed firms rose to Rs 397.92 lakh crore.
VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services said," The rising bond yields in the US (the 10-year is at 4.36%) is affecting equity markets. The rate cut from the Fed expected in July is fading now since the labour market continues to be tight and the rising crude (Brent at $ 89) is feared to add to inflation further constraining the ability of the Fed to cut. Even though the Fed chief has been sounding dovish recently, the market is now less optimistic about 3 rate cuts in 2024. This will continue to be a drag on equity markets globally. In India FPIs may continue to sell."
Tata Steel shares rose to a fresh record high in early deals on Wednesday. Tata Steel stock zoomed 1% to Rs 166.30 on BSE. Tata Steel stock opened higher at Rs 164.95 against the previous close of Rs 164.65 on BSE. Market cap of the firm rose to Rs 2.05 lakh crore.
Shares of defence major Cochin Shipyard zoomed 7.85% to a record high of Rs 1062.15 against the previous close of Rs 984.80. Total 3.04 lakh shares of the firm changed hands amounting to a turnover of Rs 31.48 crore in early deals.
Shares of Mazagon Dock Shipbuilders rose nearly 11.54% to Rs 2225 on BSE. Market cap of the firm rose to Rs 44,343 crore. Total 2.06 lakh shares of the firm changed hands amounting to a turnover of Rs 44.41 crore in the afternoon session.
Shares of Capri Global climbed 19% to Rs 242.50 today. Market cap of the firm climbed to Rs 19,480 crore on BSE. Total of 1.83 lakh shares of the firm changed hands amounting to a turnover of Rs 4.16 crore on BSE.
Shares of YES Bank rose 3% to hit a high of Rs 25.29 on BSE. Market cap of the bank climbed to Rs 72,207 crore. The lender shared its Q4 updates and said it logged a 22.5 per cent growth in deposits and 14.1 per cent rise in loans and advances in the March quarter. Total of 258.90 lakh shares of the firm changed hands amounting to a turnover of Rs 64.69 crore on BSE.
Shares of Adani Power zoomed 4% to a record high of Rs 611.75 in early deals. Market cap of the firm climbed to Rs 2.34 lakh crore. A total of 3.72 lakh shares of the firm changed hands amounting to a high turnover of Rs 22.48 crore on BSE.
Shares of Jindal Steel & Power gained over 2.24 percent a record high of Rs 917.10 against the previous close of Rs 897 on BSE. A total of 0.90 lakh shares of the bank changed hands amounting to a turnover of Rs 8.13 crore on BSE. Market cap of the firm rose to Rs 93,006 crore.
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