Produced by: Aseem Thapliyal Designed by: Manoj Kumar
The domestic equity market was trading lower on Tuesday. Sensex fell 423 points to 71848 and Nifty lost 99 pts to 21,642.
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services said,"The 1000 point rally in the Nifty in the last one month has imparted momentum to the market. Retail investors encouraged by the excellent returns of 2023 have turned exuberant and are chasing stocks, unmindful of the high valuations, particularly in the mid and small cap segments. Investors should not fall into the trap of ‘recency bias’ and chase low grade stocks in the broader market. Declining dollar and US bond yields provide a favourable global context for equities. FII inflows in 2024 are likely to be huge and have the potential to lift high quality large-caps, particularly in segments like banking where valuations are fair."
Shares of debt-ridden telecom operator Vodafone Idea Ltd rose for the third straight session amid reports that said the government was likely to sell its 33% stake in Vodafone Idea to tech-billionaire Elon Musk and his satellite internet venture Starlink collaborating with the carrier. Vodafone Idea stock rose 4.64% to Rs 17.78 on BSE. Market cap of the firm rose to Rs 82,414 crore. Total 188.05 lakh shares of the firm changed hands amounting to a turnover of Rs 32.31 crore on BSE.
Shares of Allcargo Logistics rose 18.42% in a weak market after the stock turned ex-bonus today. The firm announced bonus issue of shares in a ratio of 3:1. Allcargo Logistics stock rose 18.42% to Rs 97.70 on BSE. Market cap of the firm rose to Rs 9071.08 crore. Total 19.15 lakh shares of the firm changed hands amounting to a turnover of Rs 17.76 crore on BSE.
Shares of Meghmani Organics rose 15% amid a weak broader market today. Meghmani Organics stock rose 15% to Rs 90.49 on BSE. Market cap of the firm rose to Rs 2293.31 crore. Total 13.13 lakh shares of the firm changed hands amounting to a turnover of Rs 11.32 crore on BSE.
Shares of TeamLease Services fell 4% amid a weak broader market today. TeamLease Services stock slipped 4.28% to Rs 3114.65 on BSE. Market cap of the firm declined to Rs 5,222 crore. Total 2172 shares of the firm changed hands amounting to a turnover of Rs 68.52 lakh on BSE.
Shares of Bharat Heavy Electricals Ltd (BHEL) climbed to its 52 week high of Rs 204.95 on BSE. Market cap of the firm rose to Rs 70,947 crore. Total 47.66 lakh shares of the firm changed hands amounting to a turnover of Rs 96.16 crore on BSE.
Shares of YES Bank Ltd rose 5 per cent to hit new 52-week high of Rs 23.71. Shares of YES Bank climbed 4.71 per cent to Rs 23.71 with market capitalization rising to Rs 68,200 crore. Total 729.41 lakh shares of the firm changed hands amounting to a high turnover of Rs 168.80 crore.
Shares of Coal India jumped nearly 3 per cent to scale a one-year high of Rs Rs 394.60. Market cap of the firm rose to Rs 2.41 lakh crore on BSE.
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