Benchmark indices were trading higher on Tuesday. Sensex was up 193 pts to 62156 and Nifty was trading 81 pts higher at 18,395. Bank Nifty was up 0.33% to 44,010.
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, “A major trend in FPI investment is the steady increase in inflows to Japan, India, South Korea and Indonesia and the declining enthusiasm for China. The Chinese market has been steadily declining in recent days in response to poor corporate results. The reverse is happening in India where FPIs have invested Rs 26,591 crore in May till 23rd. Nifty is poised for a rally, but a breakout will happen only when a resolution to the US debt ceiling impasse is visible.”
Shares of Borosil Ltd fell 7.27% to Rs 381.55 on BSE. Market cap of the firm fell to Rs 4427.84 crore. Earlier, the stock opened at Rs 382 on BSE. The stock was the top loser on BSE.
Stock of Infosys rose 1.6% to Rs 1,313.75 and was the top Sensex gainer today. Market cap of the firm rose to Rs 5.43 lakh crore. Earlier, the stock opened at Rs 1,293.30 on BSE. Total 2.50 lakh shares of the firm changed hands amounting to a high turnover of Rs 32.63 crore on BSE.
Shares of Vedanta jumped 2% after the Anil Agarwal-led company announced an interim dividend of Rs 18.50 per share for FY24, amounting to Rs 6,877 crore. The stock climbed to Rs 293.05 against the previous close of Rs 287.35 on BSE. Total 4.69 lakh shares of the firm changed hands amounting to a turnover of Rs 13.61 crore on BSE. Market cap of the firm rose to Rs 6286 crore.
Shares of Shree Cement rose 4% to Rs 25,426 against the previous close of Rs 24,474 on BSE. Total 1327 shares of the firm changed hands amounting to a turnover of Rs 3.32 crore on BSE. Market cap of the firm rose to Rs 91,031 crore. Shree Cement reported a 15% YoY drop in net profit at Rs 546 crore for the March quarter compared with Rs 645 crore in the same quarter last year.
Shares of Jindal Stainless rose nearly 5% today. Total 0.62 lakh shares of the firm changed hands amounting to a turnover of Rs 1.83 crore. Market cap of the firm rose to Rs 24,530 crore. The stock gained 4.64% to Rs 298.90 on BSE.
Shares of BPCL rose 2.89% to Rs 371.95 on BSE. Total 1.55 lakh shares of the firm changed hands amounting to a turnover of Rs 5.73 crore. Market cap of the firm stood at Rs 80,023 crore. Net profit more than doubled in the March quarter to Rs 6,478 crore on the back of a recovery in fuel marketing margins and better refining margins.
Shares of CG Power hit a 52-week high of Rs 356.25 today against the previous close of Rs 352.50 on BSE. Market cap of the firm rose to Rs 54,162 crore.
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