Most brokerage stocks gain over 5% in line with NIFTY, SENSEX hitting fresh peaks

Domestic benchmark indices SENSEX and NIFTY50 logged their second straight session of gains on Thursday, rising 33.4 points or 0.05% and 19.5 points or 0.09%, respectively. Also, both the key indices marked their fresh all-time highs for the second day in a row. NIFTY50 settled at 22,493.55 while Sensex closed at 74,119.39.

Beginning on a positive note, the indices experienced volatility in early deals on March 7 but stabilised after 11 am.

Meanwhile, many brokerage firms saw renewed buying interest from investors, aligning with the broader markets that continued to demonstrate some stability.

Brokerage shares like ICICI Securities, Anand Rathi Wealth Limited, 5Paisa Capital Ltd, IIFL Securities Ltd, Geojit Financial Services Ltd and Monarch Networth Capital gained up to 5.5% in intraday trade. On the other hand, Angel One, Motilal Oswal Financial Services, SMC Global Securities Limited, Dolat Algotech Ltd and Nuvama Wealth Management Ltd closed in the red.

In today's market wrap, here’s a look at the performance of the shares of major brokerage firms.

Angel One

Angel One shares dropped 1.01% to close at ₹2,732 apiece on the NSE today, marking the third straight session of loss. The brokerage firm's shares opened on a positive note but lost momentum as the day progressed and fell to a day's low of ₹2,725.1 apiece.

ICICI Securities

Shares of ICICI Securities Ltd ended higher by 0.71% at ₹795 on Thursday, breaking their two-session losing streak. The stock opened slightly higher at ₹795.95 and rallied upward to hit the day's high of ₹818.9 per share before easing some of its gains towards the end of the session.

Motilal Oswal Financial Services

Motilal Oswal Financial Services shares closed lower for the third straight session on Thursday. At close, the brokerage's stock was down 3.02% at ₹1,580 apiece on NSE. Throughout the session, the stock oscillated between gains and losses before heading to a negative zone again towards the session close.

Anand Rathi Wealth Limited

Anand Rathi Wealth shares closed 2.2% higher at ₹3,953 apiece on the NSE. After a gap up opening at ₹3,895.9 apiece the stock rallied further to hit an intraday high at ₹4,004.95. Since March 1, the stock has mostly remained in the green zone gaining more than 7% in the last one week.

SMC Global Securities Limited

SMC Global Securities shares closed marginally lower at ₹125.6 apiece on NSE. Starting the day on a flat note, the stock oscillated between the day's low of ₹125.15 apiece and a high of ₹128.2. The brokerage firm’s shares traded with volatility for most of the day.

5Paisa Capital Ltd

Shares of the brokerage closed 0.29% higher at ₹527.25 apiece on the NSE, breaking a three-session losing streak on Thursday. The stock opened marginally higher and sustained the momentum throughout the session, reaching its peak at ₹537.

IIFL Securities Ltd

IIFL Securities shares jumped over 5.52% to close at ₹132.8 apiece on the NSE, snapping their three-day losing run. The stock swung between a high of ₹138.8 and a low of ₹131.3 during the day.

Dolat Algotech Ltd

Shares of Dolat Algotech closed 0.71% lower at ₹77.05 apiece on the NSE. Shares hit the day's lowest level at ₹76.25 after reaching the day's high of ₹79.3 apiece.

Geojit Financial Services Ltd

Shares of Geojit Financial Services Ltd ended 0.42% up at ₹71.95 on the NSE. Intraday, the stock touched the day's high at ₹72.65 and a low of ₹71.35 apiece.

Nuvama Wealth Management Ltd

On Wednesday, shares of Nuvama Wealth Management Ltd closed 0.23% lower at ₹4,075 apiece on the NSE. This marked the third consecutive session of losses for the stock.

Monarch Networth Capital

Shares of Monarch Networth Capital closed 0.46% higher at ₹595.20 after a subdued opening on the NSE on Thursday. Intraday, its shares swung between a high of ₹611.5 and a low of ₹580.9.

To sum up

It was a mixed basket for the brokerage stocks on Dalal Street on Thursday despite a positive sentiment in the broader market. While many leading stock trading firms closed in the green a few extended the losses and ended up in the negative territory.