Produced by: Aseem Thapliyal
Designed by: Manoj Kumar
Indian equity benchmarks were trading lower today. The 30-share BSE Sensex fell 413 points to 65,994 and Nifty lost 117 pts to 19,676.
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, “The domestic macros have turned distinctly positive with the CPI inflation in September falling steeply to 5.02% and the IIP for August rising impressively to 10.3%. This implies that the MPC can pause for the rest of FY24 and go for a rate cut in Q2 of CY24. While this is positive for the economy, the market is likely to be weighed by results of IT majors, which are struggling with weak numbers on revenue guidance for FY24 and lack of clarity on growth recovery. Leading banking names have the strength to continue supporting the market."
Phoenix Mills shares rose to their all-time high of Rs 2059 in early deals. Phoenix Mills gained 6.07% intraday on BSE. Market cap of the firm rose to Rs 36,268 crore.
Shares of Infosys fell 4.26 per cent to hit a low of Rs 1,402.10 on BSE after a second straight quarter of guidance cut in Q2 earnings. Market cap of the firm fell to Rs 5.92 lakh crore. Total 2.33 lakh shares of the firm changed hands amounting to a turnover of Rs 33.24 crore on BSE.
Shares of Piccadily Agro Industries were stuck in the upper circuit of 5% at Rs 283.40 in early deals. The stock was among the top gainers on BSE. Market cap of the firm rose to Rs 2673.58 crore. Total 12.88 lakh shares of the firm changed hands amounting to a high turnover of Rs 36.27 crore on BSE.
Shares of Adani Group’s flagship firm Adani Enterprises fell over 3% to Rs 2426 against the previous close of Rs 2506.30 on BSE. The stock was among the top losers on BSE. Total 0.39 lakh shares of the firm changed hands amounting to a turnover of Rs 9.57 crore.
Shares of RailTel rose 10 per cent to Rs 243.45 in early deals. The stock was among the top gainers on BSE. Market cap of the firm rose to Rs 7664 crore. Total 3.01 lakh shares of the firm changed hands amounting to the turnover of Rs 6.95 crore in morning trade.
Shares of MMTC climbed over 12% to a fresh 52-week high of Rs 79.70 in early deals. MMTC's market cap rose to Rs 11,742 crore. Total 55.58 lakh shares of the firm changed hands amounting to the turnover of Rs 42.19 crore in morning trade.
Shares of ITI Ltd climbed 13% to a fresh 52-week high of Rs 257.50 in early deals. ITI market cap rose to Rs 24,507 crore. Total 15.13 lakh shares of the firm changed hands amounting to a turnover of Rs 37.19 crore on BSE.
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