Produced by: Aseem Thapliyal Designed by: Manoj Kumar
The domestic equity market was trading on a flat note on Monday. Sensex rose 15 points to 71,503 and Nifty gained 14 pts to 21,470.
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, "There are two significant factors driving the ongoing rally in the market. One, FIIs who have made a ‘u’ turn in their strategy have turned big buyers having invested around Rs 20,000 crore, including bulk purchase, in the last 2 weeks. Second, the rally is being driven by segments like banking and IT which were under performers for quite some time. An important point from recent market experience is that in the tug of war between FIIs and DIIs, the latter have been trumping the former consistently by buying from them when they sell and selling to them the very same stocks which they sold, at much higher prices. Global and domestic factors, except valuations, are favourable for the market."
Shares of Solar Industries India Ltd slipped over 10% today after the explosive manufacturer said an explosion incident occurred on December 17, 2023 at around 9:00 am in its factory at Chakdoh, Bazargoan, Nagpur, resulting in loss of lives of 9 workmen. The multibagger defence stock fell 10.51% to Rs 6155.35 in early trade on BSE. Market cap of the firm slipped to Rs 60,822 crore.
Shares of private sector lender YES Bank Ltd hit a fresh 52-week high amid a correction in broader markets in early trade on Monday. YES Bank shares gained 4.87% to a high of Rs 23 against the previous close of Rs 21.93 on BSE. Market cap of the bank rose to Rs 65,082 crore in Monday’s trading session.
Shares of Tata Steel hit a fresh 52-week high amid a correction in broader markets in early trade on Monday. Tata Steel shares gained nearly a per cent to a high of Rs 137.60 against the previous close of Rs 136.40 on BSE. Market cap of the firm rose to Rs 1.68 lakh crore in Monday’s trading session.
Shares of Rajesh Exports rose 9.83% to a high of Rs 402 in early trade on Monday. A total of 2.55 lakh shares of the firm changed hands amounting to a turnover of Rs 10 crore on BSE. Market cap of the firm rose to Rs 11,599.29 crore on BSE.
Shares of IREDA gained over 5% to Rs 114.20 on BSE. A total of 84.02 lakh shares of the firm changed hands amounting to a high turnover of Rs 89.63 crore on BSE. Market cap of the firm rose to Rs 29,619 crore on BSE.
Shares of IRFC rose to Rs 96.58 against the previous close of Rs 94.69 on BSE. A total of 86.87 lakh shares of the firm changed hands amounting to a high turnover of Rs 81.68 crore on BSE. Market cap of the firm rose to Rs 1.23 lakh crore on BSE.
Shares of IRCTC rose nearly 5% to Rs 818 against the previous close of Rs 780.95 on BSE. A total of 7.93 lakh shares of the firm changed hands amounting to a high turnover of Rs 63.90 crore on BSE. Market cap of the firm rose to Rs 65,224 crore on BSE.
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