Produced by: Aseem Thapliyal
The domestic equity market was trading higher in the afternoon session today. Sensex gained 2276 points to 76,231 and Nifty rose 690 pts to 23,220.
“Fundamentals, technicals and sentiments turning favourable at the same time are rare in the market. This is what has happened now. The market went into the big event, elections, very light with Nifty correcting around 600 points from the May highs. Profit booking also happened on a large scale. The short position in the market also is high. All these are going to change dramatically. DIIs, HNIs, retail ...are all going to turn buyers. Short-covering can add to the momentum,” said VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
Shares of Adani Power rose 17.67% to Rs 890.40 on BSE. The stock saw a high turnover of Rs 277.02 crore with 32.10 lakh shares changing hands in the afternoon session. Market cap of the firm stood at Rs 3.37 lakh crore.
Shares of Suzlon Energy hit upper circuit of 5% in the afternoon session. The stock rose 5% to Rs 49.99 on BSE. Market cap of the firm climbed to Rs 68,005 crore.
Shares of Adani Ports gained 12% to a record high of Rs 1607.95. Market cap of the firm rose to Rs 3.43 lakh crore. The stock saw a turnover of Rs 312.38 crore with 19.82 lakh shares changing hands in the afternoon session.
Genus Power stock slipped 5% in the afternoon session today. The stock fell 5% to Rs 298.50 against the previous close of Rs 314.15. Market cap of the firm fell to Rs 9,165.79 crore.
IRFC stock rose 12.45% to Rs 199.95 on BSE today. Market cap of the firm rose to Rs 2.47 lakh crore. Turnover was high at Rs 240.27 crore with 126.40 lakh shares changing hands in the afternoon session.
The Canara Bank stock saw a turnover of Rs 90.48 crore with 72.52 lakh shares changing hands in the afternoon session. Market cap of the firm stood at Rs 1.16 lakh crore. The stock rose nearly 9% to Rs 128.40 on BSE.
RVNL shares zoomed 11.36% to Rs 424.95 in the afternoon session today. Market cap of the firm stood at Rs 84,995 crore. The stock saw a high turnover of Rs 121.63 crore with 30.31 lakh shares changing hands in the afternoon session.
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