Produced by: Aseem Thapliyal Designed by: Manoj Kumar
Indian equity benchmarks were trading lower amid mixed global cues today. The 30-share BSE Sensex fell 171 points to 63,941 and Nifty lost 50 pts to 19,091. Market volatility index India VIX rose 6% to 12.13 in morning trade today.
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, "Buy on dips is the strategy that has worked well in this highly volatile market. In spite of multiple crises, risks and uncertainties, the market has been bouncing back smartly as evident by the 290-point rally in Nifty in the last two days. Globally, stock markets have refused to discount the West Asian crisis aggravating into a global catastrophe impacting markets. Three signals from the market are significant: one, the dollar index is down 0.40 %; two, crude is down 3%; and three, safe haven buying in gold is limited. The takeaway from these market signals is that the market is climbing all walls of worries and a collapse triggered by geopolitical events is unlikely.”
Shares of green energy firm Inox Wind fell over 4% to Rs 207.75 in early deals today. Market capitalisation of the firm slipped to Rs 6,978.56 crore. Total 334.98 lakh shares changed hands amounting to a high turnover of Rs 702.95 crore.
Shares of Fevicol maker Pidilite Industries surged over 4% today after Goldman Sachs upgraded the stock to buy from sell. Its target price was raised to Rs 2725 from the previous Rs 2350. The stock rose 4.72% to Rs 2423.40 in early deals amid a weak market. Market capitalisation of the firm climbed to Rs 1.22 lakh crore. Total 0.23 lakh shares changed hands amounting to a turnover of Rs 5.58 crore.
Shares of Bharti Airtel were trading lower ahead of the telco’s Q2 earnings set to be announced today. The stock fell over 1% to Rs 915.10 in early deals. Market capitalisation of the firm slipped to Rs 5.14 lakh crore. Total 9654 shares changed hands amounting to a turnover of Rs 88.64 lakh.
Shares of Blue Star zoomed over 9% to Rs 954 today after the firm logged a 66% rise in its Q2 net profit at Rs 70.67 crore. Revenue from operations rose 19.5%. Market capitalisation of the firm climbed to Rs 18,917 crore. Total 0.47 lakh shares changed hands amounting to a turnover of Rs 4.37 crore. The stock was among the top gainers on BSE.
Shares of Repco Home Finance zoomed 7% to Rs 406.45 today. Market capitalisation of the firm rose to Rs 2,487 crore. Total 9751 shares changed hands amounting to a turnover of Rs 38.29 lakh. The stock was among the top gainers on BSE.
Shares of Vesuvius India climbed 8.17% to Rs 3674.95 in early deals post Q2 earnings. Net profit climbed to Rs 60.28 crore in Q2 against Rs 36.09 crore in the September quarter of last fiscal. Market capitalisation of the firm rose to Rs 7291.37 crore. Total 3472 shares changed hands amounting to a turnover of Rs 1.24 crore. The stock was among the top gainers on BSE.
Shares of Gokaldas Exports slipped 8% to Rs 787.40 in early deals today post Q2 earnings. The firm reported a 48.23% fall in Q2 profit at Rs 23.71 crore against Rs 45.80 crore in the September 2022 quarter. Revenue from operations fell to Rs 500.25 crore in Q2 from Rs 569.66 crore in the year ago period. Market capitalisation of the firm fell to Rs 4937 crore. Total 0.42 lakh shares changed hands amounting to a turnover of Rs 3.39 crore.
Shares of Suzlon Energy slipped over 2% to Rs 30.80 against the previous close of Rs 31.55 on BSE. Market capitalisation of the gaming and casino firm fell to Rs 41,920 crore. Total 29.77 lakh shares changed hands amounting to a turnover of Rs 9.33 crore. Suzlon Energy stock hit a 52 week high of Rs 34.10 on October 23 this year.
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