Benchmark indices were trading higher in early deals today. The 30-share BSE Sensex gained 485 points to trade at 65,203, while the NSE Nifty rallied 128 points to 19,317
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, “The ongoing rally in global stock markets is primarily driven by the surprising and unexpected strength of the US economy, in spite of the savage 500 bps rate hike by the Fed. Global markets which had discounted a US recession by mid-2023 have been proved wrong and the markets are now compensating for the excessive pessimistic discounting in 2022. Sustained FPI flows (Rs 47,148 crore in June) is the main driver of the rally in India.”
Shares of Kalyan Jewellers India rose 1.5% to a 52-week high of Rs 152.80 in early trade. Market cap of the firm rose to Rs 15,337 crore
PowerGrid stock was the top Sensex loser today, falling over 1% to Rs 251 on BSE. Market cap of the firm slipped to Rs 1.75 lakh crore
Shares of JSW Steel gained over 2% to a 52-week high of Rs 808 today. Market cap of the steel maker climbed to Rs 1.93 lakh crore. A total of 0.86 lakh shares changed hands amounting to a turnover of Rs 6.86 crore
Shares of Equitas Small Finance Bank hit a 52-week high of Rs 92.14 today amid a rally in the broader market. A total of 2.19 lakh shares changed hands amounting to a turnover of Rs 1.98 crore. Market cap of the firm rose to Rs 10,069 crore
Shares of Suzlon Energy hit a 52-week high of Rs 16.86 in early trade. Suzlon Energy market cap climbed to 20,692 crore on BSE. The stock rose 9% on BSE
Shares of Brightcom Group hit an upper circuit of 5% at Rs 33.07 in early trade today. It opened higher at Rs 32.48 on BSE. Market cap of the firm rose to Rs 6618 crore
Shares of Mazagon Dock Shipbuilders hit 52-week high of Rs 1341 in early trade today. It opened higher at Rs 1280 against the previous close of Rs 1246.85 on BSE. Market cap of the firm climbed to Rs 26,542 crore. Ministry of Defence has inked a Rs 2725 crore contract for Medium Refit with Life Certification (MRLC) of Sub-Surface Killer (SSK) Class of Submarine “INS Shankush” with Mazagon Dock Shipbuilders (MDL)
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