Produced by: Aseem Thapliyal
The domestic equity market was trading higher on Tuesday. Sensex rose 130 points to 72,837 and Nifty added 1 pt to 22,123.
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, “High quality fundamentally strong large caps like RIL, ICICI Bank and Bharti taking up the leadership in the rally is positive for the bulls. Also it is important to remember that large caps have valuation comfort in this market where segments of the broader markets have tipped into frothy valuations. In the near-term volatility will be high. Sharp corrections can happen at any time.”
Shares of Allcargo Logistics zoomed over 12% to high of Rs 85 today. Total 11.98 lakh shares of Allcargo Logistics changed hands amounting to a turnover of Rs 9.90 crore.
Shares of Deepak Fertilisers & Petrochemicals zoomed over 10% in early trade as the firm has inked a long-term supply agreement for liquefied natural gas (LNG), with Equinor, an international energy company based in Norway. The firm saw a turnover of Rs 17 crore. The stock rose 10.52% to a high of Rs 546 on BSE. Market cap of the firm rose to Rs 6,686 crore.
Shares of EID Parry (India) surged over 9% to Rs 653.65 on BSE. Market cap of EID Parry (India) rose to Rs 11,278 crore. A total of 0.48 lakh shares of the firm changed hands amounting to a turnover of Rs 3.07 crore on BSE.
Shares of Federal Bank Ltd plunged 8 per cent to Rs 150 as Kotak Mahindra Bank made some changes to its top brass, among them being change in role for director KVS Manian, who was reportedly among the three names that were shortlisted by Federal Bank for the CEO job. Market cap of Federal Bank fell to 37,316 crore.
Shares of Coal India fell over 4% to Rs 441.35 in early deals. The firm saw a turnover of Rs 45.19 crore. Market cap of the firm declined to Rs 2.72 lakh crore.
Shares of YES Bank fell 1% to Rs 26.76 on BSE. Market cap of the bank fell to Rs 77,315 crore. A total of 241.25 lakh shares of the firm changed hands amounting to a high turnover of Rs 65.11 crore on BSE.
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