Produced by: Aseem Thapliyal Designed by: Manoj Kumar
The domestic equity market was trading lower on Wednesday. Sensex fell 106 points to 70,264 and Nifty lost 9 pts to 21,229.
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, “The valuations in the broader market had become excessive and unsustainable as pointed out many times recently. The trigger for the correction came mainly from the sustained selling by FIIs who have sold equity worth Rs 27830 crore during the last 5 days. Some news and rumours also contributed to the selling in the market. Further selling by FPIs and more corrections in the broader market are likely. Investors may wait for the market to stabilise. Safety now is in fairly priced large caps."
Shares of IREDA hit a record high of Rs 161.75 in the afternoon session today. Total 113.85 lakh shares of IREDA changed hands amounting to a turnover of Rs 180.26 lakh crore. Market cap of the firm rose to Rs 43,474 crore.
Shares of IRFC saw the highest turnover of Rs 392.84 crore today with 238.73 lakh shares changing hands on BSE. IRFC stock gained 7.22% to Rs 173.14 against the previous close of Rs 161.48 on BSE. Market cap of the firm rose to Rs 2.17 lakh crore on BSE.
Shares of Tanla Platforms Ltd slipped over 6% in early trade today after the cloud communications firm reported its December 2023 quarter earnings. The multibagger stock slipped 6.67% at Rs 1058.70 against the previous close of Rs 1134.40 on BSE. Market cap of Tanla Platforms fell to Rs 14,420 crore.
JSW Energy stock gained 2.76% to Rs 498.45 in early trade today. Market cap of the firm rose to Rs 80,399 crore on BSE. Total 3.32 lakh shares of the firm changed hands amounting to a high turnover of Rs 16.18 crore on BSE. The power producer reported a 28.8 percent year-on-year rise in consolidated net profit at Rs 231.3 crore in Q3. Revenue from operations rose 13.1 percent YoY to Rs 2,542.8 crore during the quarter.
Shares of IFCI rose 19% to Rs 40.09 on BSE today. The stock was among the top gainers on BSE. A total of 170.73 lakh shares of the firm changed hands amounting to a high turnover of Rs 77.10 crore on BSE. Market cap of the financial institution climbed to Rs 11,452 crore.
Shares of Tata Elxsi fell 4.71% to Rs 7807.35 today against the previous close of Rs 8193.65 on BSE. Shares of Tata Elxsi saw the turnover of Rs 7.41 crore today with 9404 lakh shares of the firm changing hands on BSE. Tata Elxsi shares fell after the firm logged a 3.2% rise in net profit at Rs 206.4 crore for the October-December quarter.
Shares of HDFC Bank fell to a fresh 52-week low of Rs 1382.40 on Wednesday. Market capitalisation of the bank stood at to Rs 10.96 lakh crore. Shares of lender saw a high turnover of Rs 188.52 crore with 13.17 lakh shares of the firm changing hands on BSE.
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