Produced by: Aseem Thapliyal Designed by: Manoj Kumar
The domestic equity market was trading higher on Friday. Sensex rose 476 points to 70,990 and Nifty gained 140 pts to 21,323.
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, "Market is likely to consolidate after the run up in the first half of this month. Positive news flows and buy on dips can keep the market resilient. The strongest tailwind for the market now is the sharp dip in the US bond yield (the 10-year is around 3.95 percent) triggering large capital flows to emerging markets like India. Since large cap financials and IT are reasonably valued and have been FII’s favourite sectors, these segments will continue to do well."
Shares of Genus Power Infrastructures Ltd were stuck in the upper circuit of 5% in early deals today after the company's wholly owned subsidiary received a Letter of Award (LOA) worth Rs 1,026.31 crore. The power stock traded 5% higher at Rs 234.50 on BSE today against the previous close of Rs 223.35. Market cap of Genus Power rose to Rs 6041.61 crore.
Shares of Texmaco Rail gained 10.43% to Rs 188.95 today after the Ministry of Railways awarded an order to the company for the manufacture and supply of 3,400 BOXNS waggons valued at Rs 1,374.41 crore. Market cap of Texmaco Rail rose to Rs 6865 crore.
Suzlon Energy shares climbed nearly 4 per cent after the largest domestic renewable energy solutions provider said it has won new orders for the development of a 100.8 MW wind power project for a leading global utility company. The stock rose 3.64 per cent to hit a high of Rs 38.69 on BSE.
Adani Enterprises shares climbed 3% to Rs 2982 in early trade. Market cap rose to Rs 3.39 lakh crore. In the afternoon session, a total of 3.45 lakh shares of the firm changed hands amounting to a high turnover of Rs 101.75 crore on BSE.
IRFC shares climbed 8.8% to Rs 100.84 in early trade. Market cap of the firm rose to Rs 1.25 lakh crore. In the afternoon session, a total of 216 lakh shares of the firm changed hands amounting to a high turnover of Rs 211.33 crore on BSE.
Shares of IREDA slipped 10% to Rs 108.19 today. Market cap of the firm fell to Rs 29,086 crore. In the afternoon session, a total of 81.91 lakh shares of the firm changed hands amounting to a high turnover of Rs 92.04 crore on BSE.
Shares of JM Financial zoomed 11.12% to Rs 98.90 today. Market cap of the firm rose to Rs 9307 crore. In the afternoon session, a total of 12.62 lakh shares of the firm changed hands amounting to a turnover of Rs 12.05 crore on BSE.
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