Benchmark indices were trading on a positive note in early deals today (August 4). The 30-share Sensex rose 308 points to 65,548 and Nifty gained 95 points to 19,477
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, “During the two-day correction, Nifty has lost 350 points. More importantly, higher corrections have happened in the large-caps with the broader market holding on. A significant trend is that FPIs have been continuous sellers in the last six trading sessions with a cumulative sell figure of Rs 7990 crores. With the 10-year US bond yield spiking to 4.16%, the FPIs may continue to sell or at least refrain from buying aggressively. The positive factor is that the DIIs are buying aggressively more than compensating for FPI selling. During the last six sessions DIIs have bought stocks for around Rs 9,000 crore. This is the time to nibble at high quality large-caps, particularly in banking, capital goods, construction and autos.”
Continue viewing BT Visual Story
Catch the latest business news, share market updates, expert analysis and exclusives only on BTTV.in
Shares of Suzlon Energy gained 5% to Rs 18.86 on BSE. Suzlon Energy market cap rose to Rs 23,203 crore. Total 560.10 lakh shares of the firm changed hands amounting to a turnover of Rs 105.24 crore, the highest on BSE
Shares of Zomato rose over 14 per cent in Friday's trade to hit a fresh 52-week high of Rs 98.39 on June quarter results. Zomato said its food delivery platform reported a profit after tax (PAT) at Rs 2 crore for the quarter against a net loss of Rs 186 crore in the June quarter of last year. Market cap of the firm rose to Rs 80,944 crore
Shares of IRFC zoomed 7.98% to a record high of Rs 48.29 in early trade on BSE. Market cap of the firm rose to Rs 60,206 crore. Total 135.92 lakh shares of the firm changed hands amounting to a turnover of Rs 63.44 crore, among the highest on BSE
Shares of Reliance Power rose over 4% to Rs 18.77 in early deals on BSE. Market cap of the firm rose to Rs 7,010 crore. Total 247.67 lakh shares of the firm changed hands amounting to a turnover of Rs 46.25 crore, among the highest on BSE
SBI shares were trading higher at Rs 594.90 in early deals ahead of the bank’s Q1 earnings today. Market cap of the lender rose to Rs 5.28 lakh crore. Motilal Oswal expects SBI to report a profit of Rs 13,757 crore for the June quarter, up 126.70 per cent YoY
Cummins India shares fell over 5% to Rs 1,745 today after the firm reported a 59 percent rise in fourth-quarter consolidated profit after tax on August 3, led by robust demand in domestic and international markets. Market cap of the firm declined to Rs 49,409 crore
Shares of Adani Power gained 3.65% to Rs 284.95 on BSE as the firm’s net profit jumped 83.30 per cent to Rs 8,759 crore in Q1 FY24 as against Rs 4,780 crore in the corresponding period last year. Consolidated total revenue climbed 16.80 per cent to Rs 18,109 crore in Q1 FY24 over Rs 15,509 crore in the year-ago period
Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Business Today. Investors should consult their financial advisors before taking any position