Produced by: Aseem Thapliyal
The domestic equity market was trading lower in the afternoon session today. Sensex fell 169 points to 74,175 and Nifty lost 38 pts to 22,531.
VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services said, “The massive DII buying of Rs 6,167 crore has forced short covering which is evident from the sharp decline in the short position from 1.24 lakh to 53500 in one day. With the US 10-year bond yield rising above 4.7%, FIIs will continue to sell. Buy on dips strategy has worked well in this bull market and investors can continue to use this strategy.”
Shares of multibagger defence stock Mazagon Dock Shipbuilders crossed the Rs 2,500 mark for the first time ever on Friday. Mazagon Dock Shipbuilders shares gained 2.89% to record high of Rs 2525 against the previous close of Rs 2453.95 on BSE
Shares of KPI Green Energy slipped 5% to Rs 2003.80 in early deals. Market cap of the firm fell to Rs 12,079 crore. Total 0.14 lakh shares of KPI Green Energy changed hands amounting to a turnover of Rs 2.87 crore on BSE. The stock fell after KPI Green Energy recorded a 35.4 percent on-year growth in consolidated net profit at Rs 43 crore in Q4. Revenue from operations rose 58.6 percent year over year to Rs 289.4 crore for the quarter.
Shares of KPIT Technologies gained 4% to Rs 1428.80 in early deals. Market cap of the firm rose to Rs 38,901 crore. Total 11.11 lakh shares of KPI Green Energy changed hands amounting to a high turnover of Rs 152.97 crore on BSE.
Shares of Waaree Renewable Technologies fell to the lower circuit of 5% at Rs 2748.45. Market cap of the firm slipped to Rs 28,625 crore. Waaree Renewable stock opened higher at Rs 3030 today. Total 4.47 lakh shares of Waaree Renewable changed hands amounting to a high turnover of Rs 128.82 crore on BSE.
Nykaa shares were trading flat at Rs 178.60. Market cap of the firm rose to Rs 50,511 crore. Total 85.86 lakh shares of Nykaa changed hands amounting to a high turnover of Rs 152.93 crore on BSE.
Shares of IT firm Zensar Technologies rose over 4% in early deals today after the firm reported its Q4 earnings. Zensar Technologies stock gained 4% to Rs 599.35 against the previous close of Rs 575.20 on BSE. Market cap of the firm climbed to Rs 13,877 crore.
Vodafone Idea stock fell 3% to Rs 13.12 in early deals today. Total 3197.38 lakh shares of Vodafone Idea changed hands amounting to the highest turnover of Rs 431.24 crore on BSE. The market cap of the firm stood at Rs 89,686 crore.
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