Benchmark indices were trading lower in early deals today (September 12). Sensex lost 100 points to 67,027 and Nifty declined 54 pts to 19,941.
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, “Optimism regarding India’s growth prospects in a low-growth world and a fast decelerating China has triggered this rally enabling the Nifty to cross the psychological 20,000 mark. FIIs, too, have joined the party with a buy figure of Rs 1,473 crore after five days of continuous selling in the cash market. The fact that FIIs have made this purchase when the US 10-year yield is at 4.29 percent indicates that the FOMO (Fear Of Missing Out) factor is driving their decision. The participation of the fairly valued large banking stocks and RIL make this rally healthy even when the overall market valuation is turning expensive."
Shares of Adani Power hit a 52-week high of Rs 410 in early deals today. Market cap of the firm rose to Rs 1.47 lakh crore. Total 21.96 lakh shares of the firm changed hands amounting to a turnover of Rs 86.01 crore on BSE.
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Shares of NIIT gained 19% to Rs 117.70 in early deals today. Market cap of the firm rose to Rs 1,533.15 crore. Total 8.12 lakh shares of the firm changed hands amounting to a turnover of Rs 9.15 crore on BSE.
Shares of Texmaco Rail crashed 16.87% to Rs 133 in early deals today. Market cap of the firm declined to Rs 4715.39 crore. Total 8.07 lakh shares of the firm changed hands amounting to a turnover of Rs 11.77 crore on BSE.
Shares of Bajaj Hindusthan Sugar crashed 14.41% to Rs 23.86 in early deals today. Market cap of the firm fell to Rs 3,257.27 crore. Total 14.68 lakh shares of the firm changed hands amounting to a turnover of Rs 3.79 crore on BSE.
Shares of Infibeam Avenues tanked over 9% to Rs 16.42 in early deals today. Market cap of the firm fell to Rs 4529.54 crore. Total 38.03 lakh shares of the firm changed hands amounting to a turnover of Rs 6.75 crore on BSE.
Shares of Cochin Shipyard tanked 14.09% to Rs 1,032.10 in early deals today. Market cap of the firm fell to Rs 14,430 crore. Total 1.15 lakh shares of the firm changed hands amounting to a turnover of Rs 12.78 crore on BSE.
Shares of state-owned Power Grid Corporation of India Ltd (PGCIL) hit a fresh 52-week high in early deals today after the firm said it has won the tariff-based competitive bidding to set up a 20-GW inter-state transmission system project in Rajasthan. The stock is also trading ex-bonus today. Power Grid stock opened higher at Rs 203 in the current session. The stock rose 2.84% to Rs 203.95 on Tuesday. It touched a 52-week low of Rs 139.76 on September 26, 2022.
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