Benchmark indices were trading on a negative note in early deals today. The 30-share Sensex fell 513 points to 65,945 and Nifty lost 155 points to 19,578
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, “The major news after market close yesterday is the rating agency Fitch’s downgrade of US sovereign rating from AAA to AA+. This has impacted bond and currency markets with the US 10-year yield rising above 4%. The impact on the stock markets is likely to be negative but not large since the US economy is now headed for a soft landing and not a recession, as markets feared earlier. US 10-year yield rising above 4% and the dollar index appreciating to 102 are negative for emerging markets. Also, indicators like PMI from the Euro Zone and China suggest slowdown in these economies.”
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Shares of Hawkins Cookers fell 3.52% to Rs 6,608.30 in early deals after the stock turned ex-dividend today. Hawkins Cookers declared a dividend of Rs 100 per share for the financial year ended March 31, 2023 for the shareholders. Market cap of the firm fell to Rs 3,548.71 crore
IRFC shares rose 0.44% to Rs 40.67 on BSE. Turnover of the railway stock was high as 59.04 lakh shares of the firm changed hands amounting to a turnover of Rs 23.77 crore on BSE. Market cap of the firm stood at Rs 53,110 crore
Reliance Power shares rose 5.48% to Rs 17.91 on BSE. Turnover of the power stock was high as 227.83 lakh shares of the firm changed hands amounting to a turnover of Rs 39.92 crore on BSE. Market cap of the firm stood at Rs 6,626.26 crore
Shares of Star Cement were trading over 7% higher at Rs 155.30 today. Market cap of the firm rose to Rs 6,228.40 crore. Total 1.09 lakh shares of the firm changed hands amounting to a turnover of Rs 1.65 crore on BSE
Shares of Campus Activewear fell over 3% to Rs 282.45 on BSE. Turnover of the footwear stock was high as 19.09 lakh shares of the firm changed hands amounting to a turnover of Rs 55.99 crore on BSE. Market cap of the firm fell to Rs 8,972.67 crore
Shares of Sula Vineyards slipped over 6% to Rs 481.85 on BSE after the company received a notice of Rs 115.8 crore excise duty from Maharashtra excise department. The company said the order does not affect the existing business. Market cap of the firm fell to Rs 4,090 crore
Shares of Escorts Kubota gained 4% during the early trading session to 52 week high of Rs 2,666.85 on BSE. Escorts Kubota market cap rose to Rs 34,927 crore. Total 0.30 lakh shares of the firm changed hands amounting to a turnover of Rs 7.81 crore on BSE
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