Produced by: Aseem Thapliyal Designed by: Manoj Kumar
Indian equity benchmarks were trading higher today. Sensex rose 507 pts to 67,495 and Nifty hit all time high of 20,281 in early trade. Banking and capital goods indices gained 577 pts and 680 pts, respectively. Market volatility index India VIX slipped 1.10% to 12.55 in morning trade today.
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, "The market momentum, which pushed the Nifty up by 6% in November is likely to be sustained since the incoming data and news are positive. First, the Q2 FY24 GDP growth rate at 7.6% has surpassed expectations. Particularly, the 13.9% growth in manufacturing and 13.3% growth in construction are impressive numbers. This has the potential to push the FY24 GDP growth rate to above 6.8%, significantly higher than the RBI’s projection of 6.5%. Second, the exit polls results indicate a high possibility of political stability after the General elections. The market will appreciate this."
Shares of Tata Technologies Ltd fell around 8 per cent amid profit booking on Friday. The stock fell 8 per cent to Rs 1,212.80 compared to its close at Rs 1,3,14.25 on Thursday, its listing day. Market cap of the firm fell to Rs 50,465 crore on BSE.
Shares of Tata Power hit a fresh 52-week high of Rs 278.50 in early trade on BSE. Market cap of the firm rose to Rs 88,127 crore. Total 21.45 lakh shares of the firm changed hands amounting to a high turnover of Rs 58.96 crore.
Shares of Ion Exchange slipped 5% to Rs 554.50 today. Market cap of the firm fell to Rs 8,286 crore. Total 0.48 lakh shares of the firm changed hands amounting to a turnover of Rs 2.67 crore. The stock was among the top losers on BSE.
Shares of Adani Power Ltd snapped two-day losing streak in Friday’s session. The Adani Group stock gained 5.42% intraday to Rs 454.70 on BSE today. Market cap of the firm rose to Rs 1.73 lakh crore. The firm saw 4.81 lakh shares changing hands amounting to a high turnover of Rs 21.43 crore on BSE.
Shares of Power Finance Corporation Ltd (PFC) rose over 9 per cent to a fresh 52-week high of Rs 368.40 after the Maharatna CPSE said its wholly owned subsidiary PFC Consulting has formed a special purpose vehicle (SPV) namely Paradeep Transmission and that this SPV has been incorporated as a wholly owned subsidiary of PFC Consulting. Market cap of PFC rose to Rs 1.19 lakh crore in early deals.
Shares of RIL were trading flat in early deals. The stock traded 72% higher at Rs 2393.50 on BSE. Market cap of the firm stood at Rs 16.18 lakh crore. Total 20.54 lakh shares of the firm changed hands amounting to the highest turnover of Rs 490.39 crore on BSE.
Shares of Delta Corp rose over 8% to Rs 154.15 today. Market cap of the firm climbed to Rs 3983 crore. Total 36 lakh shares changed hands amounting to a turnover of Rs 53.85 crore.
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