The domestic indices rose in early trade led by buying interest in banks, financials, metals, consumer and automobile stocks. Sensex climbed 260 points or 0.42% to 62,688, while Nifty gained 81 points or 0.44% to 18,568
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, “Apart from the better-than-expected FY23 GDP growth rate, high-frequency indicators like GST collections, manufacturing PMI, auto sales in May and impressive credit growth indicate a robust and steadily improving economy. This scenario, in the context of inflation (4.7% in April) coming within RBI’s tolerance limit and peaking of interest rates, augurs well for equity markets in H2 of CY2023. An important trend in the market is the outperformance of the broader market. Expect lots of stock specific action even within range-bound movement of the Nifty.”
Shares of Graphite India were the top gainers in early trade, rising 8.60% to Rs 364 on BSE. Market cap of the firm rose to Rs 7,127 crore
Shares of Tata Motors fell 0.19% to Rs 534.25 in early trade after the company sold 74,973 units of commercial and passenger vehicles in May 2023, down 1.6% from 76,210 units in May 2022. The market cap of the firm stood at Rs 1.77 lakh crore. The stock saw high turnover on BSE. Total 4.64 lakh shares changed hands within the first hour of trade, amounting to a turnover of Rs 25.08 crore
Tata Steel shares were the top Sensex gainers today. The stock gained 0.90% to Rs 106.90 against the previous close of Rs 105.95 on BSE. Market cap of the firm rose to Rs 1.30 lakh crore
Infosys shares are trading ex-dividend today with a final dividend of Rs 17.50 per share. The stock fell 1.26% to Rs 1,302 in early trade. Market cap of the firm stood at Rs 5.40 lakh crore
Shares of Suzlon Energy fell 1.08% to Rs 11.03 against the previous close of Rs 11.15 on BSE. It opened higher at Rs 11.24 on BSE. The stock saw high turnover on BSE. Total 259.91 lakh shares changed hands within the first hour of trade, amounting to a turnover of Rs 28.87 crore
Shares of Brightcom Group were stuck in the upper circuit of 5% today. The stock has been gaining for five sessions. Shares of Brightcom Group gained 5% to Rs 20.61 against the previous close of Rs 19.63 on BSE. It opened higher at Rs 20.61 on BSE
Shares of South Indian Bank rose 3.70% to Rs 18.40 today. The stock has been gaining for the last three sessions. Market cap of the bank stood at Rs 4,045 crore
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