Produced by: Aseem Thapliyal Designed by: Manoj Kumar
The domestic equity market was trading in the green on Monday. Sensex rose 34 points to 69,859 and Nifty gained 10 points to 20,979.
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, "Global and domestic cues favour continuation of the ongoing rally in the market despite high valuations. FIIs turning buyers, strong DII inflows, exuberant retail investors and a thriving IPO market supported by strong economic fundamentals can sustain the rally in the short run ignoring high valuations. A significant trend in the market is the outperformance of the Bank Nifty over the Nifty. Last week while the Nifty appreciated 3.5 percent, Bank Nifty shot up 5.5 percent. This outperformance is likely to continue, given the fair valuations of banking stocks, particularly the leading names. For the overall market, safety is now in large caps."
Shares of Intellect Design Arena Ltd hit their fresh 52-week high in early deals today after the firm said that Indian Bank has chosen Intellect's eMACH.ai powered Cash Management System to bolster their corporate banking modernisation. Intellect Design Arena shares rose 4.42% to a fresh high of Rs 782 against the previous close of Rs 748.45 on BSE.
Shares of YES Bank surged 4.22 per cent in Monday's trading session to hit a day high of Rs 20.75. At this price, the stock has gained 47.16 per cent from its one-year low of Rs 14.10, a level seen on October 23, 2023. Market cap of the bank rose to Rs 58,410 crore.
IREDA shares hit an intraday high of Rs 81.90 on BSE today, a 155.93% gain to the IPO price. On an intraday basis, share price of IREDA rose 15.59% in early deals. The firm saw 149.36 lakh shares changing hands amounting to a high turnover of Rs 117.01 crore on BSE. Market cap of the firm rose to Rs 22,493.90 crore.
Shares of airline SpiceJet Ltd rose over 7% to a fresh 52-week high after the airline said the company shall soon be listing its securities on National Stock Exchange of India. SpiceJet shares zoomed 7.33% to Rs 59 on Monday against the previous close of Rs 54.97 on BSE. The aviation stock opened at high point of the day today. A total of 94.47 lakh shares of the firm changed hands amounting to a turnover of Rs 54.96 crore.
Shares of GMR Airports Infrastructure Ltd extended their gains during the early trading session on Monday. Shares of GMR Airports Infrastructure surged about 5 per cent to Rs 72.30 on Monday, hitting their 52-week high, with a total market capitalization of more than Rs 43,000 crore.
Shares of IRFC Ltd rose 8.63% to high of Rs 83.19 in early deals. A total of 116.93 lakh shares of the firm changed hands amounting to a turnover of Rs 94.57 crore. Market cap of the firm rose to Rs 1.06 lakh crore.
Shares of Safari Industries fell 4.66% to Rs 3,870 in early deals. A total of 5736 shares of the firm changed hands amounting to a turnover of Rs 2.25 crore. Market cap of the firm slipped to Rs 9,389.77 crore.
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