Benchmark indices were trading higher in early deals today (September 8). Sensex rose 50.55 points to 66,316 and Nifty gained 9 pts to 19,735.
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, “Sustained DII investment supported by strong retail buying is driving the market higher in spite of FII selling. In September, so far, FIIs have sold in the cash market for Rs 8608 crores and DIIs have bought for Rs 5715 crores. In spite of this net institutional selling, Nifty is up by 434 points for the month so far. This, and the hyper activity in the mid-and small-cap segments, point to the active participation of retail investors in the rally. Also, the ‘buy on dips’ strategy is working well for traders. This market construct has the potential to take the rally to near the Nifty record high of 19,991.”
Shares of Adani Ports and Special Economic Zone (Adani Ports) rose nearly 1% to Rs 817 today as global brokerage firm CLSA expects Adani Group's blue-chip player to report a strong September 2023 quarter despite slowing global trade, with August 2023 traffic rising 17% YoY basis and up 13% YoY ex-Haifa acquisition. Market cap of the firm rose to Rs 1.76 lakh crore.
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Shares of Cochin Shipyard hit a fresh 52-week high in early deals today. The stock zoomed 9.75% to Rs 1258 on BSE. Market cap of the firm rose to Rs 16,311 crore. Total 4.21 lakh shares of the firm changed hands amounting to a turnover of Rs 52.02 crore on BSE.
Shares of Mazagon Dock Shipbuilders hit a fresh 52-week high in early deals today. The stock zoomed 18.93% to Rs 2,483 on BSE. Market cap of the firm rose to Rs 48,687 crore. Total 4.30 lakh shares of the firm changed hands amounting to a turnover of Rs 99.63 crore on BSE.
Shares of Graphite India hit a fresh 52-week high in early deals today. The stock zoomed 13.68% to Rs 544.70 on BSE. Market cap of the firm rose to Rs 10,497 crore. Total 2.56 lakh shares of the firm changed hands amounting to a turnover of Rs 13.21 crore on BSE.
Shares of Shipping Corporation of India hit a 52-week high of Rs 159.40 today. Market cap of the firm rose to Rs 7,357.30 crore. Total 10.52 lakh shares of the firm changed hands amounting to a turnover of Rs 16.40 crore on BSE.
Shares of Tata Power hit a 52-week high of Rs 274.25 today. Market cap of the firm rose to Rs 87,488 crore. Total 41.68 lakh shares of the firm changed hands amounting to a turnover of Rs 112.65 crore on BSE.
Shares of IRFC rose 5% to a fresh 52 week high of Rs 74.50 in early deals today. Market cap of the railway firm rose to Rs 97,752 crore. Total 112.72 lakh shares of the firm changed hands amounting to a turnover of Rs 85.24 crore on BSE.
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