Benchmark indices were trading higher in early deals today (August 30, 2023). Sensex gained 360 points to 65,436 and Nifty rose 100 points to 19,443
Shares of Zomato surged over 5 per cent during early deals amid block deal buzz and positive views from the global brokerage firms. It surged to Rs 99.50, before giving up gains partially, commanding a total market capitalization of close to Rs 85,200 crore
Shares of Suzlon Energy hit their upper circuit of 5% at Rs 25.89 amid heavy volumes, even as the renewable energy solutions provider said the 285 MW wind power project that it bagged in May 2018 from Avikiran Solar India Pvt Ltd has been downsized by the two parties due to disruption of the global supply chain
Shares of Jio Financial Services Ltd (JFS) rose 5 per cent in Wednesday's trade. The stock hit its 5 per cent upper circuit limit at Rs 232.70 on BSE
Shares of Zee Entertainment rose over 1% to Rs 268.05 as Securities Appellate Tribunal (SAT) would hear Punit Goenka's appeal seeking a stay on Sebi order that barred him from holding key positions in the group companies and in the merged ZEE-Sony entity
Ami Organics shares rose 4.93% to Rs 1382.50 on BSE after Morgan Stanley Asia Singapore Pte non-ODI purchased 6,21,898 equity shares in Ami Organics through open market transactions at an average price of Rs 1,250 per share, amounting to Rs 77.7 crore. High net-worth individual (HNI) Girishkumar Limbabhai Chovatia was the seller in a block deal, selling 6.25 lakh shares at an average price of Rs 1,250.39 per share
Shares of Uflex gained 11% to Rs 428.70 in early trade. Uflex market cap climbed to Rs 3074.77 crore. Total 0.41 lakh shares of the firm changed hands amounting to a turnover of Rs 1.72 crore on BSE
Shares of Axis Bank gained nearly 2% to a fresh 52-week high of Rs 997.60 in early deals. Axis Bank's market cap climbed to Rs 3.06 lakh crore. Total 0.43 lakh shares of the bank changed hands amounting to a turnover of Rs 4.25 crore on BSE
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, “An important feature of the market performance this year is India’s underperformance relative to the US. While S&P 500 is up 17.6% YTD, Nifty is up only 6.3% YTD. Relatively high valuations in India are constraining a strong rally. Of late, the poor monsoon this year, till now, is also emerging as a major worry."
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