Produced by: Aseem Thapliyal Designed by: Manoj Kumar
The domestic equity market was trading on a flat note on Tuesday. Sensex rose 3 points to 73,331 and Nifty fell 11 pts to 22,086.
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, "The rally from now on will not be smooth and sharp corrections are likely since valuations are high. What are the likely triggers for a correction? More often than not, unexpected events cause corrections. Geopolitical developments have the potential to trigger corrections. But recent geopolitical events like the Israel-Gaza war didn’t impact crude prices or markets. Similarly, the skirmishes going on in the Red Sea also may pass without hurting the markets. But there can be a near-term concern that the conflict may widen. So watch out for the events in the Red Sea."
Shares of Indian Renewable Energy Development Agency Ltd (IREDA) hit their record high in early deals today. The share surged 4.44% to a fresh high of Rs 127.50 against the previous close of Rs 122.10 on BSE. IREDA stock surpassed the previous record high of Rs 123.37 reached on December 14, 2023.
Shares of Mazagon Dock Shipbuilders Ltd rose 6% to hit a record high in early deals today. The multibagger stock rose 6.04% intraday to Rs 2490 against the previous close of Rs 2348.10 on BSE. Total 1.58 lakh shares of the firm changed hands amounting to a turnover of Rs 39.32 crore. Market cap of Mazagon Dock rose to Rs 49,293 crore on BSE.
Shares of IRFC hit their record high of Rs 146.69 against the previous close of Rs 130.11 on BSE. The railway stock opened higher at Rs 139.10. Total 328.23 lakh shares of the firm changed hands amounting to a high turnover of Rs 462.28 crore on BSE. Market cap of IRFC rose to Rs 1.89 lakh crore.
Shares of YES Bank hit their 52 week high of Rs 26.25 against the previous close of Rs 24.73 on BSE. The banking stock opened higher at Rs 24.99. Total 387.80 lakh shares of the firm changed hands amounting to a high turnover of Rs 100.17 crore on BSE. Market cap of YES Bank rose to Rs 74,233 crore.
Shares of RVNL rose 4% to a record high of Rs 231.80 against the previous close of Rs 220.70 on BSE. The railway stock opened higher at Rs 225.15. Total 43.43 lakh shares of the firm changed hands amounting to a high turnover of Rs 99.08 crore on BSE. Market cap of RVNL rose to Rs 47,611 crore.
Jio Financial shares fell 6.26 per cent intraday to Rs 250.10 on BSE. Jio Financial's consolidated profit declined 56% to Rs 293.82 crore for the quarter ended December FY24 against Rs 668.2 crore in the previous quarter.
Shares of telcom equipment maker ITI Ltd rose 18% to a 52 week high of Rs 372 against the previous close of Rs 315.15 on BSE. The BSE 500 stock opened higher at Rs 317.10. Total 10 lakh shares of the firm changed hands amounting to a turnover of Rs 35.37 crore on BSE. Market cap of ITI rose to Rs 35,596 crore.
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