Produced by: Aseem Thapliyal
The domestic equity market was trading lower on Wednesday. Sensex declined 495 points to 72,599 and Nifty fell 160 pts to 22,037. Market cap of BSE-listed firms fell to Rs 387.75 lakh crore. TCS, Infosys, HUL, Bajaj Finance, Airtel and Tech Mahindra were the only Sensex gainers, rising up to 0.81 per cent. Shares of Power Grid, Maruti, Asian Paints, Wipro and RIL were the top Sensex losers, falling up to 2.55%.
VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services said, " Market is likely to be in a range-bound zone in the near term. FIIs have sharply reduced their selling this month and have turned buyers to the tune of Rs 872 crores in the cash market, so far in February, despite the high US bond yields. This indicates that FIIs are unlikely to press big selling pulling the market sharply down. Because of this favourable market construct, dips are getting bought, aided by sustained flows into the market.”
Shares of Indian Renewable Energy Development Agency Ltd (IREDA) slipped 4.22% to Rs 148.40 in early trade today. The stock opened lower at Rs 157 against the previous close of Rs 154.95 on BSE. Market cap of the firm slipped to Rs 40,222 crore. IREDA saw 36.25 lakh shares changing hands amounting to a turnover of Rs 55.46 crore on BSE.
Shares of Venus Pipes zoomed over 6% to a 52 week high of Rs 1783.95 today. The stock was among the top BSE gainers with its market cap climbing to Rs 3568.77 crore. The firm saw a turnover of Rs 6.55 crore.
Shares of Vodafone Idea fell over 12% to Rs 13.81 on BSE. Market cap of the firm fell to Rs 68,346 crore. A total of 1336.09 lakh shares of the firm changed hands amounting to a turnover of Rs 198.15 crore on BSE. The fall came despite the telecom operator stating that it plans to raise around Rs 45,000 crore via a combination of equity and debt. The company's board has approved equity fundraise of up to Rs 20,000 crore.
Shares of YES Bank slipped 4% to Rs 24.11 in early trade on BSE today. Market cap of YES Bank fell to Rs 69,729 crore. A total of 333.02 lakh shares of the lender changed hands amounting to a turnover of Rs 82.20 crore on BSE.
Shares of Easy Trip Planners Ltd gained over 3% today after the firm announced a strategic partnership with Zaggle Prepaid Ocean Services Limited. Easy Trip Planners stock rose 3.55% to Rs 50.65 against the previous close of Rs 48.91 on BSE. Market cap of Easy Trip Planners stood at Rs 8,725 crore. Total 22.81 lakh shares changed hands amounting to a turnover of Rs 11.37 crore.
Shares of Cochin Shipyard rose over 4% today after the defence major said Prime Minister Narendra Modi will inaugurate the first indigenously developed and built hydrogen fuel cell ferry today. Cochin Shipyard has constructed the vessel. Cochin Shipyard shares rose 4.24% to Rs 890 against the previous close of Rs 853.75 on BSE. Market cap of the defence stock climbed to Rs 23,216 crore.
Shares of Tata Motors hit a record high today, nearing the key Rs 1,000 mark today. Tata Motors shares climbed 1.40% to a fresh high of Rs 976.30 in early deals on Wednesday. Tata Motors stock hit a 52-week low of Rs 400.40 on March 28, 2023. With today’s rally, the Tata Group has climbed 144% from its 52-week low.
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