Produced by: Aseem Thapliyal Designed by: Manoj Kumar
The domestic equity market was trading lower on Thursday. Sensex fell 131 points to 71,369 and Nifty fell 60 pts to 21,512.
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, “At elevated valuations, the market needs only a trigger for a sell-off and yesterday this trigger came in the form of HDFC Bank’s results. Also, there was a sell-off in other emerging markets like Taiwan and Korea indicating that this is an emerging market correction driven by FPI outflows. The FPI sell figures in India yesterday was huge at Rs 10578 crores. Amid rising bond yields in the US, FPIs may sell again."
Shares of state-run Rail Vikas Nigam Ltd (RVNL) hit record high in early trade today despite a correction in the broader market. RVNL shares rose to a high of Rs 251.40 on BSE. The stock has been rallying for the last eight sessions. Total 68.02 lakh shares of RVNL changed hands amounting to a turnover of Rs 163.23 crore.
Shares of Nazara Technologies are in focus today after the gaming and sports media platform said its board has cleared a preferential allotment of equity shares to raise up to Rs 250 crore. Nazara Technologies stock rose to Rs 954.40 against the previous close of Rs 937 on BSE. Market cap of the firm climbed to Rs 6967.31 crore on BSE. Total 0.81 lakh ashares of the firm changed hands amounting to a turnover of Rs 7.44 crore on BSE.
Shares of Indian Energy Exchange (IEX) fell 9% today after the government said it would implement the market coupling mechanism soon in the sector. IEX stock hit an intraday low of Rs 134.40, down 8.72% against the previous close of Rs 147.25 on BSE.
Shares of Polycab India Ltd were trading lower at Rs 4426 in afternoon session today. The firm will report its December quarter results on Thursday. Market cap of the firm fell to Rs 66465 crore on BSE. Total 2.34 lakh shares of the firm changed hands amounting to a high turnover of Rs 101.59 crore on BSE.
Shares of YES Bank saw high turnover today with 464.23 lakh shares of the lender changing hands amounting to a high turnover of Rs 113.84 crore on BSE. Market cap of the bank fell to Rs 71,156 crore. YES Bank stock was trading flat at Rs 24.75 on BSE.
Shares of Indian Railway Finance Corporation Ltd (IRFC), rose to a record high of Rs 155 today against the previous close of Rs 149.05 on BSE. Shares of IRFC saw the highest turnover today with 218.98 lakh shares of the firm changing hands amounting to a turnover of Rs 319.11 crore on BSE.
Shares of Oracle Financial Services Software rallied close to 20 per cent to Rs 6,098 on Thursday, hitting its new 52-week high mark. Market capitalisation of the firm rose to Rs 53,000 crore post December quarter earnings. The scrip had previously settled at Rs 5,087.40 on Wednesday.
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