Benchmark indices were trading lower in early deals today. The 30-share BSE Sensex fell 275 points to 62,893 and Nifty lost 83 points to 18,671. However, mid and small-cap shares gained as BSE Midcap index added 42 points and small-cap index rose 61 pts, respectively
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, “Market has corrected from near record highs and has turned volatile. A healthy feature of the ongoing 3-month old rally is that it has been characterised by corrections which made ‘buy on dips’ strategy successful. Much of the ongoing volatility in the market is due to sectoral churning happening on a large scale. Banking stocks are witnessing profit booking in spite of the sound fundamentals and part of this money is moving to autos and realty reflecting their improving prospects.”
Adani Enterprises stock saw high turnover with 0.90 lakh shares changing hands amounting to a turnover of Rs 21.66 crore on BSE. Market cap of the firm rose to Rs 2.75 lakh crore. Shares of Adani Enterprises rose 0.63% to Rs 2,419 on BSE
Shares of Timken India slipped 11% to Rs 3,100 against the close of Rs 3485 on BSE. Market cap of the firm fell to Rs 24,197 crore. Timken Singapore will offload about 63 lakh shares in Timken India through block deals. The floor price is fixed at Rs 3,000 per share, a 14% discount from the current levels
Shares of JSW Steel hit a fresh 52-week high of Rs 786.40 in early trade. Market cap of the firm climbed to Rs 1.89 lakh crore
Shares of Amber Enterprises zoomed 13.2% today. The stock rose to Rs 2,383.95, up 13.2% against the previous close of Rs 2,105.95 on BSE. Market cap of the firm rose to Rs 7,978 crore. It was among the top gainers on BSE
Radico Khaitan stock rose 3.74% to a 52-week high of Rs 1,241.25 on BSE in early trade. Market cap of the firm climbed to Rs 9,420 crore. The firm saw 6,518 shares changing hands amounting to a turnover of Rs 80 lakh on BSE
Shares of Brightcom Group rose 5% to Rs 33.80 in early trade today. Shares of Brightcom Group have gained 70.58% in the last 11 sessions. It opened higher at Rs 33.40 on BSE. Market cap of the firm rose to Rs 6,739 crore
Shares of Saregama India rose 9.35% to Rs 372 today. Saregama India’s market cap rose to Rs 7,191 crore. The stock was among the top BSE gainers
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