Produced by: Aseem Thapliyal
The domestic equity market was trading higher on Tuesday. Sensex gained 127 points to 72,917 and Nifty rose 33 pts to 22,155. Market cap of BSE-listed firms rose to Rs 393.11 lakh crore. TCS, PowerGrid, HCL Tech and Titan Company were the top Sensex gainers, rising up to 1.88 per cent. Of 30 Sensex stocks, 20 were trading in green. Shares of Axis Bank, Bajaj Finance, ICICI Bank, SBI and NTPC were the top Sensex losers, falling up to 0.81%.
VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services said, "There are indications of exhaustion in the market rally, particularly in the broader market. Higher valuations are constraining the bulls and there are no major positive triggers in the near-term that can sustain the rally beyond a point. Expectations of backloading of the rate cuts from the Fed and the consensus lowering of the number of rate cuts this year also are likely to restrain the rally in the mother market US. This will have its repercussions in the Indian market too.”
Shares of Indian Renewable Energy Development Agency Ltd (IREDA) hit an upper circuit of 5% at Rs 159 in early trade today. The stock opened lower at Rs 143.90 against the previous close of Rs 151.45 on BSE. Market cap of the firm climbed to Rs 42,735 crore. IREDA saw 69.87 lakh shares changing hands amounting to a turnover of Rs 108.64 crore on BSE.
Shares of RailTel zoomed over 14% to Rs 483.65 today. The stock was the top BSE gainer with its market cap climbing to Rs 15,490 crore. The firm saw a high turnover of Rs 45.26 crore.
Shares of Adani Green Energy rose 2.2% to a frsh 52 week high of Rs 2016 on BSE. Market cap of the firm climbed to Rs 3.15 lakh crore. A total of 0.69 lakh shares of the firm changed hands amounting to a turnover of Rs 13.83 crore on BSE.
Shares of YES Bank gained 3.52% to Rs 26.12 in early trade on BSE today. Market cap of YES Bank rose to Rs 74,187 crore. A total of 159.27 lakh shares of the lender changed hands amounting to a turnover of Rs 41 crore on BSE.
Shares of Easy Trip Planners rose over 5% today after Minerva Ventures Fund bought a 0.5 percent stake in the tourism and travel firm. Minerva lapped up 90 lakh shares at Rs 48.75 per share in a bulk deal worth Rs 43.87 crore. Easy Trip Planners stock rose 5.53% to Rs 50.95 against the previous close of Rs 48.28 on BSE.
Shares of SBI were trading flat at Rs 755.90 in early trade. Market cap of the bank declined to Rs 6.74 lakh crore. . The stock saw a high turnover of Rs 128.35 crore after a total of 16.91 lakh shares of the firm changed hands on BSE.
Shares of CMS Info Systems saw the highest turnover of Rs 1670 crore on BSE after 4.2 crore shares of the firm changed hands in a large block deal today. The stock traded flat at Rs 394 on BSE. Market cap of CMS Info Systems fell to Rs 6173 crore.
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