Stock Market Opening:
Modest Gains Supported by Tech, Realty, and Energy Stocks
At the opening of today’s stock market session, benchmark indices showed a slight upward trend, boosted by positive performances in the information technology, real estate, and oil and gas sectors.
Sensex and Nifty Rise:
The S&P BSE Sensex saw a 150.50-point increase, reaching 65,778.64 around 10:42 a.m. Similarly, the NSE Nifty50 rose by 44.70 points to reach 19,573.50. Notably, small and midcap indices continued to outshine the benchmark indices.
Hot Stocks to Watch:
While the main indices didn’t make significant gains, several individual stocks were in the spotlight due to impressive performances.
- IRFC’s Stellar Run: Indian Railway Finance Corporation (IRFC) stocks surged by 7.27% to reach Rs 71.55 per share. In the past five trading sessions, these railway PSU shares have gained over 43%, following a remarkable 20% increase yesterday.
- MMTC’s Strong Performance: Shares of Metals and Minerals Trading Corporation of India (MMTC) jumped by 17.90% on the National Stock Exchange (NSE) to Rs 61.90 per share. This stock hit a 52-week high earlier in the day.
- RVNL’s Growth: Rail Vikas Nigam Limited (RVNL) shares were up by 2.40% to Rs 158.10 per share. The stock hit a 52-week high in the previous trading session, reflecting robust interest in the railway sector’s growth prospects.
- Tata Power’s 52-Week High: Tata Power shares initially reached a 52-week high but later dipped to trade 0.27% lower at Rs 258.45 around 10:50 am. This move followed news that Tata Power’s renewable power arm had signed a power delivery agreement with Neosym Industry.
- Yes Bank’s Extension: Shares of Yes Bank declined by 1.3% to Rs 18.35 per share. The bank is in focus as its board decided to extend the tenure of Chief Risk Officer Sumit Gupta for three months. Additionally, Yes Bank clarified its relationship with JC Flowers ARC following the sale of a loan portfolio to them in December 2022.
- SpiceJet’s Debt Clearance: Low-cost carrier SpiceJet witnessed a nearly 7% surge in its shares. This boost came after the company allotted 4.81 crore equity shares on a preferential basis to nine aircraft lessors to settle outstanding dues amounting to Rs 231 crore. As of 11 a.m., SpiceJet shares were trading at Rs 33.28 apiece.
Disclaimer: The opinions expressed in this article belong to experts and brokerages and do not necessarily reflect the views of the India Today Group. It is advisable to consult with a qualified broker or financial advisor before making any investment decisions.
Also Read: IRFC Shares Surge 20% To Reach New One-Year High: Discover The Reasons Behind The Rally
