Produced by: Aseem Thapliyal
The domestic equity market was trading higher in the afternoon session today. Sensex rose 380 points to 80,339 and Nifty gained 100 pts to 24,419.
VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services said, "The market is exhibiting strength and is showing no signs of a sharp correction despite the high valuations. A healthy trend in the market is that fundamentally strong largecaps are seeing buying. The rising accumulation and delivery based buying in largecaps like RIL and ITC is a reflection of this healthy trend. It appears that the market is waiting for triggers for a breakout from the present levels. This trigger may come from the Q1 results starting this week."
Shares of RVNL hit a record high of Rs 620 on Tuesday. Market cap of the railway stock stood at Rs 1.12 lakh crore. However, the stock fell over 4% to Rs 534 in the afternoon session.Total 69.75 lakh shares changed hands amounting to a turnover of Rs 396.63 crore on BSE.
Shares of Maruti Suzuki were the top gainers on Sensex and Nifty on Tuesday after the Uttar Pradesh government exempted strong hybrid electric cars (HEVs) and plug-in hybrid electric vehicles (PHEVs) from registration charges with immediate effect. Maruti Suzuki stock rose 6.82% intraday to Rs 12,846.95 on BSE. Total 0.71 lakh shares of the firm changed hands amounting to a turnover of Rs 89.13 crore. Market cap of Maruti Suzuki rose to Rs 4.02 lakh crore on BSE.
Shares of Indian Renewable Energy Development Agency (IREDA) rose over 3% to fresh record high in early deals on Tuesday. The stock rose 3.12% to Rs 254 on BSE. Market cap of the firm climbed to Rs 63,511 crore. IREDA shares saw a turnover of Rs 101.17 crore as 41.80 lakh shares changed hands on BSE today.
Shares of multibagger Genus Power Infrastructures Ltd hit their record high in early deals today after reports said the firm disclosed the first successful shipment of its Smart Ultrasonic Water Meters DN20 to Australia. The power stock traded 5% higher at Rs 373.25 on BSE today against the previous close of Rs 355.50. Market cap of Genus Power rose to Rs 11,337 crore.
Shares of Inox Wind rose 6% in early deals today after the wind energy solutions provider said it has bagged an order for 200 MW from a renewable C&I power producer. The order is for IWL’s latest 3 MW Wind Turbine Generators (WTGs) and the scope comprises of end-to-end turnkey execution. Inox Wind stock rose 6.66% to high of Rs 168.85 against the previous close of Rs 158.30 on BSE. Market cap of Inox Wind rose to Rs 21,310 crore on BSE.
Shares of Adani Power zoomed 4% to Rs 727 in the afternoon session. Market cap of the firm climbed to Rs 2.80 lakh crore on BSE. Total 57.85 lakh shares changed hands amounting to a high turnover of Rs 422.07 crore on BSE.
Shares of IRFC slipped over 3% to Rs 192.10 in the afternoon session today. Market cap of the firm fell to Rs 2.57 lakh crore. Total 177.34 lakh shares of IRFC changed hands amounting to a high turnover of Rs 358.66 crore.
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