Indian equity benchmarks were trading higher amid positive global market sentiment today. The 30-share BSE Sensex zoomed 464 points to 63,611 and Nifty gained 146 pts to 19000. All 19 sectoral indices on BSE were trading in the green. Market volatility index India VIX slipped 5.12% to 11.01 in morning trade today.
V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, " After six continuous days of losses triggered by the elevated bond yields in the US and tensions in West Asia, the market appears to be oversold. Shorting in the FPI overweight segments like banking and IT have contributed significantly to the sharp market correction. The US economy's resilience is surprising. The Q3 GDP growth at 4.9% means the Fed will continue to be hawkish and the likely 'higher for longer' interest rate regime is negative from the stock market perspective."
Shares of Shriram Finance climbed 9% to Rs 1950 in early deals. Market capitalisation of the firm rose to Rs 73,212 crore. Total 0.66 lakh shares changed hands amounting to a turnover of Rs 12.88 crore. Shriram Finance reported a 12.6 percent on-year rise in net profit to Rs 1,750.84 crore in the July-September quarter against a net profit of Rs 1,555.11 crore.
Shares of Swan Energy zoomed 12 per cent to Rs 368.15 in early deals. Market capitalisation of the firm rose to Rs 9511.57 crore. Total 3.52 lakh shares changed hands amounting to a turnover of Rs 12.42 crore. The stock was among the top gainer on BSE.
Shares of Vodafone Idea were trading flat today after firm reported widening of consolidated net loss to Rs 8,738 crore for the quarter ended September 2023. The stock was trading at Rs 10.72 on BSE. Market capitalisation of the firm stood at Rs 52,184 crore. Total 169.95 lakh shares changed hands amounting to a high turnover of Rs 18.48 crore.
Shares of RVNL gained 4% to Rs 157.50 in early deals. Market capitalisation of the firm rose to Rs 32,536 crore. Total 8.53 lakh shares changed hands amounting to a high turnover of Rs 13.26 crore.
Shares of Westlife Foodworld slipped 7% to Rs 818.05 in early deals on the back of Q2 earnings. Market capitalisation of the firm fell to Rs 12,785 crore. Total 0.13 lakh shares changed hands amounting to a turnover of Rs 1.08 crore. The firm reported a 29% fall in Q2 profit to Rs 22.37 crore against Rs 31.53 crore in the September 2022 quarter.
Shares of Adani Power gained over 3% to Rs 341 in early deals. Market capitalisation of the firm rose to Rs 1.30 lakh crore. Total 5.35 lakh shares changed hands amounting to a high turnover of Rs 18.44 crore. The stock fell in the previous session after a Bloomberg report said that the Gautam Adani-led group’s long-time auditors were being scrutinised by accounting regulator The National Financial Reporting Authority (NFRA).
Shares of Vedanta rose nearly 2% to Rs 216 against the previous close of Rs 212.10 on BSE. Market capitalisation of the firm climbed to Rs 80,291 crore. Total 47.83 lakh shares changed hands amounting to the highest turnover of Rs 102.59 crore. The rally in the metal stock comes a day after the firm announced the appointment of Ajay Goel as the new Chief Financial Officer (CFO) and Key Managerial Personnel (KMP), effective October 30, 2023.
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