Produced by: Aseem Thapliyal Designed by: Manoj Kumar
The domestic equity market was trading higher on Thursday. Sensex rose 533 points to 71,890 and Nifty gained 150 pts to 21,667.
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, "A predictable market trend is that high valuations will lead to corrections. The unpredictable part is the timing and the trigger for the correction. In the last few days, globally markets are correcting and the trigger for the correction is profit booking, which is normal and rational. Markets have a tendency to overreact. Perhaps the sharp rise in the US market in response to the Fed pivot was a bit overdone. A good strategy now would be to move some money from the overpriced mid and small caps to the fairly priced high quality large caps like the leading banking names."
Reliance Power shares extended their gains for the fifth straight session in Thursday's trade. The stock jumped 15.10 per cent to hit a fresh one-year high of Rs 29.88. Market capitalisation (m-cap) of the firm rose to Rs 11,254.42 crore.
Shares of Sobha Ltd gained 19.55% to a fresh 52 week high of Rs 1335. Market cap of the firm rose to Rs 12,034 crore. Total 2.23 lakh shares of the firm changed hands amounting to a turnover of Rs 28.11 crore on BSE.
Shares of IRFC gained over a per cent to Rs 103.50 on BSE. Market cap of the firm rose to Rs 1.33 lakh crore. Total 86.41 lakh shares of the firm changed hands amounting to a high turnover of Rs 88.45 crore on BSE.
Shares of Vodafone Idea gained over 3% to Rs 16.56. Market cap of the firm rose to Rs 79,493 crore. Total 521.54 lakh shares of the firm changed hands amounting to a high turnover of Rs 84.46 crore on BSE.
Shares of YES Bank gained 2% to Rs 23.58 on BSE. Market cap of the firm rose to Rs 66,985 crore. Total 335.27 lakh shares of the firm changed hands amounting to a high turnover of Rs 78.09 crore on BSE.
Shares of NBCC (India) Ltd hit a fresh 52-week high of Rs 89.99 today after the Navratna PSU firm said it has won orders worth Rs 98 crore from Navodaya Vidyalaya Samiti. Market cap of the firm rose to Rs 15,890 crore.
Shares of HFCL hit a fresh 52-week high of Rs 94.68 today. Market cap of the firm rose to Rs 13,273 crore. Total 78.35 lakh shares of the firm changed hands amounting to a high turnover of Rs 72.35 crore on BSE.
Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of Business Today. Investors should consult their financial advisors before taking any position.