Produced by: Aseem Thapliyal Designed by: Manoj Kumar
Indian equity benchmarks were trading higher amid positive global market sentiment today. Sensex rose 305 points to 64,669 and Nifty gained 94 pts to 19,324. 18 sectoral indices on BSE except the consumer durable index were trading in the green. Market volatility index India VIX gained 2.89% to 11.19 in morning trade today.
V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, "The ability of stock markets to climb walls of worries is manifesting clearly in these troubled times. Buy on dips strategy has worked well for investors with risk-appetite. The market construct now is favourable for the bulls despite the uncertainty surrounding the Israel-Hamas conflict. The sharp decline in the US 10-year bond yield from the October high of 5% to 4.58% now is the strongest tailwind for the market. The decline in the dollar index to 105.2, correction in Brent crude to $85 and gold declining to $1988 are indications of a risk-on in markets. The short strategy of FIIs has not worked and they are likely to turn buyers soon."
Shares of Wardwizard Innovations & Mobility Ltd zoomed 11% to Rs 55.69 in early deals after the electric vehicle maker under the ‘Joy e-bike’ brand in India said it has successfully inaugurated 100 plus exclusive distributor showrooms nationwide, in addition to 750 plus touchpoints across India, all within just six months. Total 45.42 lakh shares of the firm changed hands amounting to a turnover of Rs 24.57 crore. Market cap of the firm rose to Rs 1438.51 crore on BSE.
Shares of Poly Medicure fell over 6% to Rs 1376.05 post Q2 earnings. Market capitalisation of the firm slipped to Rs 13,278 crore. Total 7166 shares changed hands amounting to a turnover of Rs 1 crore. The firm reported a profit of Rs 62.18 crore in Q2 against Rs 43.49 crore in the September quarter of the previous fiscal. Revenue climbed to Rs 337.29 crore in Q2 against Rs 274.69 crore in Q2 of last fiscal.
Shares of Cello World made a strong debut on Dalal Street as the consumerware player listed at Rs 831, a premium of 28 per cent, over its IPO issue price of Rs 648 on the BSE. The stock listed at a premium of 28 per cent at Rs 829 on National Stock Exchange (NSE) over the IPO issue price.
Shares of Zomato Ltd climbed 5 per cent to a 52-week high of Rs 121.95 after the online food delivery platform beat Street's Q2 expectations on most fronts. Market capitalisation of the firm rose to Rs 1.02 lakh crore. Total 39.39 lakh shares changed hands amounting to a high turnover of Rs 37.22 crore on BSE.
Shares of Jaiprakash Power Ventures hit a 52-week high of Rs 13.75in early deals. Market capitalisation of the firm rose to Rs 9423.51 crore. Total 947.40 lakh shares changed hands amounting to the highest turnover of Rs 124.13 crore on BSE. The stock was the top gainer on BSE.
Shares of Suzlon Energy hit a 52-week high in early deals on Monday. The renewable energy stock hit upper circuit of 5% to Rs 36.16. Market cap of the firm climbed to Rs 49,088 crore. Total 214.87 lakh shares changed hands amounting to a high turnover of Rs 77.68 crore on BSE. In Q2, consolidated net profit zoomed 78.11 per cent to Rs 102.29 crore against Rs 57.43 crore in the year-ago period. However, revenue from operations slipped 0.92 per cent to Rs 1,417.21 crore in Q2 FY24 from Rs 1,430.38 crore in the corresponding period last year.
Shares of Reliance Power gained 11% to Rs 20.24 in early deals today. Market capitalisation of the firm rose to Rs 7572.82 crore. Total 137.43 lakh shares changed hands amounting to a turnover of Rs 26.66 crore. The stock was among the top gainers on BSE.
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