Produced by: Aseem Thapliyal
Designed by: Manoj Kumar
Indian equity benchmarks were trading lower in early deals today. The 30-share BSE Sensex pack fell 313 points to 65,631, while the Nifty lost 91 points to 19,572.
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, “The ‘buy on dips’ texture of the market which took the Nifty beyond 20,000 has now changed to ‘sell on rallies’. Bulk of the selling has been coming from FIIs who have cumulatively sold in the cash market for Rs 21,287 crore in September, so far. Since the dollar index is now above 106 and the US 10-year yield is strong around 4.55%, FIIs are likely to continue selling, rendering the market weak.”
Jupiter Wagons shares were stuck in the upper circuit of 5% at Rs 317.60 in early deals today against the previous close of Rs 302.50 on BSE. Jupiter Wagons stock has gained 358.63% in a year and risen 229 per cent in 2023.
Shares of 3i Infotech rose nearly 4% to Rs 42.80 today after the IT firm said it won a contract from Ujjivan Small Finance Bank, for end-user support service (workplace services). The contract is for five years starting from October 1, 2023 to September 30, 2028, with an option to extend the contract with mutual agreement. Market cap of the firm rose to Rs 705.57 crore.
Shares of renewable energy solution provider Suzlon Energy Ltd were trading lower at Rs 25.89 today after the firm said Dilip Shanghvi and Associates have terminated the agreement with the promoters of the company. Market cap of the firm stood at Rs 34,762 crore.
Shares of Vedanta slipped 6.27% to Rs 210 today as credit rating agency Moody's cut its rating on Vedanta Resources’ (VRL) senior unsecured bonds, citing elevated risk of debt restructuring over the next few months.
Shares of Signature Global made a strong debut at Dalal Street on Wednesday. The real-estate player listed at Rs 445, with a premium of 16 per cent, over its issue price of Rs 385 on BSE. It listed at a premium of 15 per cent at Rs 444 on the National Stock Exchange (NSE).
Shares of Sai Silk (Kalamandir) made a muted debut at Dalal Street on Wednesday. The ethnic apparel firm listed at Rs 231, with a premium of 4 per cent, over its issue price of Rs 222 per share on the National Stock Exchange (NSE). It made its market debut with a similar premium at Rs 230.10 on BSE.
Shares of Brightcom Group gained over 3% to Rs 20.18 in early trade. Total 134.53 lakh shares of the firm changed hands amounting to a high turnover of Rs 26.76 crore on BSE. Market cap of the firm climbed to Rs 3,979.34 crore.
Shares of Cochin Shipyard gained 3.43% to Rs 1130 in early trade. Total 3.12 lakh shares of the firm changed hands amounting to a high turnover of Rs 34.55 crore on BSE. Market cap of the firm climbed to Rs 14,447.08 crore.
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