Benchmark indices were trading lower in early deals today (August 23). Sensex fell 43 points to 65,176 and Nifty lost 10 pts to 19,386.
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, “A significant feature of the market trend is the outperformance of the broader market. While the Nifty is up 7.13% YTD, the Nifty Midcap and Nifty Smallcap indices are up 22.33% and 21.80% respectively YTD. The global and domestic macro developments and news are impacting the Nifty but not the broader market indices. Lot of institutional and retail money is chasing mid and small caps. But the valuations of these segments are becoming a bit concerning. Investors have to be careful while chasing low-priced stocks in the broader market, particularly the small-cap segment.”
Adani Transmission shares fell over 2% to Rs 935 in early deals. Total 1.96 lakh shares of the firm changed hands amounting to a high turnover of Rs 18.52 crore on BSE. Market cap of the firm declined to Rs 1.04 lakh crore.
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Adani Power shares gained 3.42% to Rs 359.30 in early deals. Total 28.65 lakh shares of the firm changed hands amounting to a high turnover of Rs 100.09 crore on BSE. Market cap of the firm rose to Rs 1.34 lakh crore.
Easy Trip Planners shares rose over 9% to Rs 41.10 in early deals. Market cap of the firm climbed to Rs 7,127 crore. Total 30.23 lakh shares of the firm changed hands amounting to a turnover of Rs 11.97 crore on BSE. The stock was the top gainer on BSE.
TVS Supply Chain Solutions listed with mild listing gains on Dalal Street. TVS Group company stock started trading at Rs 207.05 on the National Stock Exchange (NSE), a premium of 5%, against the issue price of Rs 197 apiece. The company was listed at a premium of 5% to Rs 206.30 on BSE.
YES Bank shares rose over 1.5% in early deals to Rs 17.28. Market cap of the bank rose to Rs 49,402 crore. Total 139.11 lakh shares of the firm changed hands amounting to a turnover of Rs 23.86 crore, among the highest on BSE.
Shares of SJS Enterprises Ltd gained over 4% in early deals today after promoter entity of the firm sold a 29.5% stake in the decorative aesthetics solutions provider for nearly Rs 550 crore through open market transactions. The stock zoomed 4.46% to an intraday high of Rs 669.95 on BSE. Market cap of the firm rose to Rs 2,034.53 crore.
Shares of debt-ridden telecom operator Vodafone Idea rose 2.5% to Rs 7.90 today as the firm plans to clear about Rs 2,400 crore of dues to the government by September, as per a PTI report. The company recently cleared pending dues of licence fees and spectrum usage charges of about Rs 450 crore for the March quarter of 2022-23.
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