Produced by: Aseem Thapliyal Designed by: Manoj Kumar
The domestic equity market was trading higher on Thursday. Sensex rose 105 points to 71,763 and Nifty gained 44 pts to 21,662.
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, "There is no consistency in FII and DII behaviour so far this month. They are doing alternative bouts of buying and selling which is restricting the market in a range. The market needs triggers to break out or breakdown from this range. A probable negative trigger can be a slightly hawkish statement from the Fed postponing the rate cuts which the market expects to begin by March 2023. The US CPI inflation data due tonight will provide cues regarding this."
Shares of Mangalore Refinery & Petrochemicals gained 17.66% to a 52-week high of Rs 157.85 on BSE. The firm saw 13.11 lakh shares changing hands amounting to a turnover of Rs 19.72 crore. Market cap of Mangalore Refinery rose to Rs 27,287 crore.
Shares of Polycab India slipped 22% intraday today after the income tax department, in a fresh development, searched Polycab India premises on January 10. As per Ministry of Finance, the officials raided 50 premises of Polycab India in Pune, Aurangabad, Mumbai and Nashik in Maharashtra. Besides, searches are reportedly been conducted in Daman in Gujarat and Delhi. Market cap of the firm fell to Rs 59,318 crore. The firm saw 11.36 lakh shares changing hands amounting to a high turnover of Rs 462.02 crore.
Shares of The Phoenix Mills slipped 5% intraday to Rs 2441.75 today. Market cap of the firm fell to Rs 44,401 crore. The firm saw 0.16 lakh shares changing hands amounting to a turnover of Rs 3.91 crore. The fall in the stock came despite the firm stating that total consumption in the December 2023 quarter stood at Rs 3,287 crore, rising 24 percent over a year-ago period.
Shares of Kalyani Steels Ltd hit upper circuit of 20% in early trade today after the company said it has emerged as the successful bidder for the acquisition of assets of Kamineni Steel & Power India Private Ltd. Kalyani Steels shares rose 20% to a record high of Rs 623.75 against the previous close of Rs 519.80 on BSE. Shares of the iron and steel maker opened higher at Rs 550.20 on BSE.
Shares of Tata Power Co Ltd hit their record high today with the Tata Group stock trading in the green for the third consecutive session. Tata Power shares hit a high of Rs 357.30, rising 3.11% intraday against the previous close of Rs 346.50 on BSE. Total 17.57 lakh shares of the firm changed hands amounting to a high turnover of Rs 62.08 crore on BSE. Market cap of Tata Power rose to Rs 1.13 lakh crore.
Shares of IRFC gained 5.22% to an all-time high of Rs 108.44 on BSE. The firm saw 164.66 lakh shares changing hands amounting to a turnover of Rs 175.22 crore. Market cap of the firm rose to Rs 1.40 lakh crore.
Shares of private sector lender YES Bank Ltd hit a 52-week high of Rs 25.94 in the current session amid a rally in the broader market. Earlier, the stock opened higher at Rs 25.67 on BSE. Total 342.52 lakh shares of the bank changed hands amounting to a high turnover of Rs 87.89 crore on BSE. Market cap of the bank rose to Rs 74,032 crore.
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