Benchmark indices were trading on a flat note in early deals today (September 4). Sensex lost 37 points to 65,349 and Nifty rose 12 pts to 19,458.
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, “In India, a large number of small caps, particularly the micro caps, are rising, mainly driven by market momentum. Many newbie investors are chasing such stocks for quick gains. Many of these stocks don’t have strong fundamentals and investment in these stocks can be very risky. At this juncture, long-term investors should prefer the safety of high quality large-caps."
Shares of Tata Steel Ltd hit a fresh 52-week for the second session amid a rally in the broader market today. The Tata Steel stock has risen 13.64% in the last six sessions. The Sensex stock, which ended at Rs 116.90 on August 25 hit a 52-week high of Rs 132.85 in the current session.
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JTL Industries shares rose 2.61% to a 52-week high of Rs 428.45 against the previous close of Rs 417.55 on BSE. Total 0.11 lakh shares of the firm changed hands amounting to a turnover of Rs 46.41 lakh on BSE. Market cap of the firm climbed to Rs 3,558.60 crore.
IRFC shares saw high turnover on BSE in early deals. The stock surged over 18% to a fresh 52-week high of Rs 66.50. A total of 202.56 lakh shares changed hands amounting to a turnover of Rs 127.62 crore on BSE.
The banking stock climbed 7% to Rs 18.83. A total of 339.73 lakh shares changed hands amounting to a turnover of Rs 62.08 crore on BSE. Market cap of the firm rose to Rs 53,027 crore.
Shares of Jio Financial rose 4% to Rs 258.90 in early trade. A total of 70.96 lakh shares changed hands amounting to the highest turnover of Rs 180.23 crore on BSE. Market cap of the firm rose to Rs 1.61 lakh crore.
RVNL shares hit a 52-week high of Rs 158 in early trade today. The stock gained 14.28% to Rs 158 against the previous close of Rs 138.25 on Friday. A total of 50.41 lakh shares of the firm changed hands amounting to a turnover of Rs 75.92 crore. Market cap of RVNL rose to Rs 31,963 crore on BSE.
Shares of Bharat Forge hit a fresh 52-week of Rs 1,096 amid a rally in the broader market today. Bharat Forge’s market cap rose to Rs 50,737 crore on BSE. A total of 0.16 lakh shares of the firm changed hands amounting to a turnover of Rs 1.77 crore.
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