Produced by: Aseem Thapliyal
The domestic equity market was trading higher in the afternoon session today. Sensex gained 403 points to 74,785 and Nifty gained 122 pts to 22,744 .
“As the market comes back to normalcy after the abnormal volatility of the last three days, the global construct has turned favourable with rising possibility of rate cuts by the Fed. Clear signs of weakening labour market in the US have led to a sharp decline in the US bond yield to 4.29%. Even though this is favourable for foreign capital inflows, the FIIs continue to sell on high valuations in India particularly in comparison to the cheap valuations of Chinese stocks,” said VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
Shares of Adani Power rose 8.81% to Rs 790 on BSE. The stock saw a high turnover of Rs 65.81 crore with 8.50 lakh shares changing hands in the afternoon session. Market cap of the firm stood at Rs 2.95 lakh crore.
Shares of BHEL gained 8.12% to Rs 281.50 in the afternoon session after won an order from Mirzapur Thermal Energy (UP) Private Limited for 2x800 MW thermal power project at Mirzapur Phase I, Uttar Pradesh. Total 63.98 lakh shares of the firm changed hands amounting to a turnover of Rs 176.20 crore. Market cap of the power equipment maker climbed to Rs 1.98 lakh crore.
Shares of Vodafone Idea gained 0.47% to Rs 14.93. Market cap of the firm rose to Rs 99,259 crore. The stock saw a high turnover of Rs 150.72 crore with 995.78 lakh shares changing hands in the afternoon session.
Nazara Technologies stock rose 16.82% to Rs 814.30 in the afternoon session today. Market cap of the firm rose to Rs 6101.90 crore. The stock was the top gainer on BSE.
BEL stock saw the highest turnover of Rs 177.40 crore as 64.42 lakh shares changed hands on BSE. Market cap of the firm rose to Rs 1.99 lakh crore. The stock rose over 5% to Rs 281.50.
Adani Ports stock saw a turnover of Rs 120.49 crore with 8.73 lakh shares changing hands in the afternoon ses sion. Market cap of the firm stood at Rs 2.95 lakh crore. The stock rose nearly 1% to Rs 1367.85 on BSE.
Shares of state-run Rail Vikas Nigam Ltd (RVNL) rose over 8% today after the company won a contract worth Rs 390 crore. The multibagger railway stock rose 8.59% to Rs 383.65 against the previous close of Rs 353.30 on BSE. The project cost is Rs 390,97 35,276.55 and to be completed in 24 months.
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