Produced by: Aseem Thapliyal
The domestic equity market was trading higher in the afternoon session today. Sensex rose 27 points to 73,880 and Nifty was trading flat at 22,401.
VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services said, “The overarching trend of this market is its bullishness despite negative triggers. The rising bond yields in the US ( the 10-yr continues above 4.6%) and geopolitical tensions are not impacting the market at all. During the last seven days FIIs sold equity worth a massive Rs 25853 crores. But the DII buying overwhelmed this FII selling and the market continued its upward momentum. In the near-term, consolidation is likely.”
Shares of Kotak Mahindra Bank slipped over 12% to Rs 1620 against the previous close of Rs 1843.05. Kotak Mahindra Bank market cap fell to Rs 3.27 lakh crore after RBI prohibited the private bank from onboarding new customers through its online and mobile banking channels. Total 19.83 lakh shares of the lender changed hands amounting to a high turnover of Rs 329.43 crore on BSE
Shares of Indian Hotels slipped 5.13% to Rs 577 in early deals. Market cap of the firm fell to Rs 82,530 crore. Total 2.90 lakh shares of Indian Hotels changed hands amounting to a turnover of Rs 17.05 crore on BSE
Shares of cement maker Dalmia Bharat fell 6% on Thursday after the firm reported earnings for the quarter ended March 2024. Net profit declined 47% to Rs 320 crore in Q4 against Rs 609 crore in the March 2023 quarter. Dalmia Bharat stock slipped to Rs 1842.55 against the previous close of Rs 1959.20.
Shares of Voltas hit their record high in early deals today as Motilal Oswal revised its price target on the stock with a buy call. Voltas shares rose 1.06% to a high of Rs 1429.05 against the previous close of Rs 1414. Market cap of the firm rose to Rs 46,621 crore. Voltas stock opened higher at Rs 1,417 today.
Axis Bank shares rose 5.29% to Rs 1120 after the bank reported a standalone net profit of Rs 7.129.67 crore for the March quarter compared with Rs 6,071.10 crore profit in the December quarter (up 17 per cent QoQ) and Rs 5.728,42 crore loss in the same quarter last year. Market cap of the lender rose to Rs 3.44 lakh crore.
Waaree Renewable Technologies stock hit an upper circuit of 5% at Rs 2893.10. Total 4.26 lakh shares of Waaree Renewable changed hands amounting to a turnover of Rs 122.74 crore on BSE. The market cap of the firm climbed to Rs 30,131 crore.
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