Produced by: Aseem Thapliyal Designed by: Manoj Kumar
The domestic equity market was trading in the red on Thursday. Sensex fell 132 points to 69,521 and Nifty fell 37 points to 20,900.
VK Vijayakumar, Chief Investment Strategist at Geojit Financial said, " There are three factors that can keep the market resilient. One, steady decline in U.S. bond yields (10-year around 4.1% now) has created a global environment favourable for equities. Two, India’s GDP growth rate is improving and inflation is coming down. The steadily declining crude price is another big positive. Three, political uncertainty surrounding the 2024 General elections appears to be out of the way after the crucial state election results. In spite of these favourable factors, there will be dips in the market triggered by profit booking at higher levels."
IDFC First Bank shares fell over 4% to Rs 86.05 amid reports that Warburg Pincus-owned Cloverdell Investment was likely to sell a 1.3 per cent stake in IDFC First Bank through a block deal for about $100 million at Rs 85.70 apiece today. Market cap of the bank fell to Rs 61,929 crore.
Shares of IRCON International Ltd cracked over 9 per cent to Rs 157.50 as the two-day offer for sale (OFS) opened on Thursday. Market cap of the firm fell to Rs 14,982 crore.
Shares of One 97 Communications Ltd (Paytm) hit their 20 per cent lower circuit limit in Thursday's trade amid concerns over Paytm’s strategy to move away from small ticket size BNPL loans, which analysts said would affect the total loan originations via the platform, as the segment forms over 50 per cent of total disbursements. Paytm shares fell 20 per cent to hit lower circuit limit at Rs 650.65 on BSE.
Shares of Adani Total Gas zoomed 10% intraday to Rs 1159 in early trade today. Adani Total stock opened at Rs 1104 today, higher than the previous close of Rs 1053.65 on BSE. Total 14.36 lakh shares of Adani Total changed hands amounting to a turnover of Rs 163.86 crore on BSE.
Shares of KIOCL hit upper circuit of 10% at Rs 341.75 against the previous close of Rs 310.70 on BSE. Market cap of the firm climbed to Rs 20,769 crore. Total 0.39 lakh shares changed hands amounting to a turnover of Rs 1.28 crore on BSE.
Shares of Tata Power hit a record high of Rs 316.80 today. Tata Power climbed over 7% on BSE. Total 26.53 lakh shares of the firm changed hands amounting to a turnover of Rs 81.67 crore on BSE. Market cap of the firm rose to Rs 1,00,397 crore.
Shares of telecom equipment firm ITI Ltd zoomed 15.47% to Rs 313.45 today. Market cap of the firm climbed to Rs 29,480 crore on BSE. Total 10.79 lakh shares of the firm changed hands amounting to a high turnover of Rs 32.51 crore on BSE.
Shares of Hazoor Multi Projects Ltd have risen 78% in the last nine sessions. The multibagger stock has been stuck in upper circuit for the ninth straight session. Shares of Hazoor Multi Projects were stuck in the upper circuit of 5% at Rs 245.60 in early deals in the current session. Hazoor Multi Projects shares opened 5% higher against the previous close of Rs 233.95 on BSE.
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