Produced by: Aseem Thapliyal Designed by: Manoj Kumar
Indian equity benchmarks were trading higher today. Sensex gained 250 points to 65,905 and Nifty rose 81 pts to 19,775. BSE consumer durables index was the top gainer rising 568 points. Capital goods and oil and gas indices fell 263 pts and 111 pts, respectively. Market volatility index India VIX was flat at 12.11 in morning trade today.
V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, "The range bound movement of the market is likely to be broken with an upward move soon. The global cues are supportive. The softening of US bond yields (the 10-year yield is at 4.41 percent ) will provide the big global macro backdrop for a market rally. The market is likely to wait till the State elections outcome is known. If the State election outcome indicates political stability after the General elections of 2024, that will act as the trigger for the rally. And, if such a rally happens, it is likely to be led by large-caps across the board in sectors like banking, IT, automobiles, capital goods, telecom, real estate and construction-related segments.”
Shares of Shreeji Translogistics zoomed 9% in early trade today after the firm said its board would consider the proposal for issuance of bonus shares on December 21, 2023. Shreeji Translogistics shares gained 8.89% to Rs 78 on BSE today against the previous close of Rs 71.63 on BSE. Market cap of the firm rose to Rs 398.34 crore. Total 1.92 lakh shares of the firm changed hands amounting to a turnover of Rs 1.45 crore.
Shares of Titagarh Rail Systems hit a record high in early trade today after the railway firm said it has formed a strategic partnership with ABB Systems to supply propulsion systems for metro rolling stock projects in India. Titagarh Rail shares hit an all-time high of Rs 1041, rising 11.21% on BSE today against the previous close of Rs 936.05 on BSE. Market cap of the firm rose to Rs 13,008 crore. Total 2 lakh shares of the firm changed hands amounting to a turnover of Rs 20.32 crore.
Shares of RPG Group firm KEC International over 4% in early deals today after the firm said it received new orders worth Rs 1,005 crore across its various businesses. KEC stock gained 4.61% to Rs 627 against the previous close of Rs 599.35 on BSE. Total 0.15 lakh shares of the firm changed hands amounting to a turnover of Rs 94.78 crore on BSE today. Market cap of KEC International rose to Rs 15,727 crore.
Shares of Suzlon Energy Ltd fell over 4 per cent in Tuesday's trade ahead of the company's investor meet scheduled for later in the day. On Tuesday, Suzlon Energy shares fell 4.45 per cent to hit a low of Rs 39.50. The scrip hit a one-year high of Rs 44 on Friday. The Suzlon Energy stock has risen 281 per cent year-to-date.
Shares of Rallis India gained 7% to Rs 231.40 today against the previous close of Rs 215.85 on BSE. Total 1.13 lakh shares of the firm changed hands amounting to a turnover of Rs 2.55 crore on BSE today. Market cap of Rallis India rose to Rs 4481.54 crore. The stock was among the top BSE gainers today.
Shares of KPIT Technologies fell 6 per cent after a report by Kotak Institutional Equities talked about unrealistic growth expectations that are embedded in the KPIT Tech stock price. The multibagger IT stock fell 5.50 per cent to hit a low of Rs 1,533 on BSE. Market cap of the firm fell to Rs 42,312 crore.
Shares of Emami were trading flat at Rs 494.10 in early deals. However, the firm logged the highest turnover of Rs 51.94 crore as 10.55 lakh shares of the firm changed hands on BSE today. Market cap of Emami rose to Rs 21,963 crore.
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