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Brokerage shares extend gains for 2nd day amid SENSEX, NIFTY rally

Upstox

4 min read | Updated on March 28, 2024, 18:53 IST

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SUMMARY

Most brokerage stocks clocked gains on Thursday as broader markets closed the day and the current financial year (FY24) on an optimistic note. 5Paisa Capital, IIFL Securities Ltd, Anand Rathi Wealth, Angel One and SMC Global Securities emerged as prominent gainers among the brokerage firms.

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Of the 11 brokerage shares reviewed today, seven closed with gains

Shares of most brokerage houses extended their winning streak for the second straight session on Thursday, March 28. This trend followed the surge of nearly 1% each in the benchmark equity indices SENSEX and NIFTY in the last trading session of the financial year 2023-24 (FY24).

The 30-share BSE SENSEX opened gap up and went past the key 74,000 level during the day. Intraday, the index climbed 1,194 points to the day's high of 74,190. The BSE gauge, after easing part of its intraday gains, settled 655 points or 0.90% higher at 73,651.35.

Likewise, the broader NSE NIFTY opened higher and hit an intraday high of 22,516 before settling at 22,327, clocking a gain of 203 points, or 0.92%, over the previous close.

Of the 11 brokerage shares reviewed in today’s market wrap, seven closed with gains. Among the major gainers were 5Paisa Capital, IIFL Securities Ltd, Anand Rathi Wealth, Angel One and SMC Global Securities.

Contrary to the overall trend, ICICI Securities, Motilal Oswal Financial Services, Geojit Financial Services, and Nuvama Wealth Management closed with losses.

Let’s take a look at the performance of the shares of major brokerages in the last trading session of FY24.

5Paisa Capital

5Paisa Capital stock surged for the second session in a row, closing 3.20% higher at ₹506 apiece on the NSE today. The stock began the day on a positive note and climbed the day's peak of ₹519.9 before surrendering some of its gains later.

IIFL Securities Ltd

IIFL Securities shares too logged their second straight session gains on Thursday. The scrip ended 2.63% higher at ₹123 a unit on the NSE today. The stock opened on a flat note but gathered strength as the day progressed. The stock marked the day's high of ₹124.75 apiece.

Anand Rathi Wealth

Anand Rathi Wealth shares too notched up gains on Thursday. The stock ended 2.54% higher at ₹3,685.25 apiece on the NSE. The stock opened gap up and piled up more gains to hit the day's peak of ₹3,720.

Angel One

Angel One shares continued their upward journey for the sixth straight session on Thursday. The scrip ended 1.92% higher at ₹3,030.05 apiece on the NSE. Starting the session on a bullish note, the stock touched its day's high of ₹3,115 per share.

SMC Global Securities

SMC Global Securities stock extended its gains to the second day on Thursday, ending 1.42% higher at ₹125.35 per share on the NSE. The stock opened on a weaker footing but staged a decent comeback during the day. It marked the day's high of ₹127.9 per share before giving up some gains.

Dolat Algotech

Dolat Algotech shares closed 1.34% higher at ₹68.15 apiece on the NSE. The stock opened the session higher and strengthened further to mark its intraday high of ₹70.2 apiece on the NSE.

Monarch Networth Capital Shares of Monarch Networth Capital advanced 1.26% to end at ₹532.25 apiece on the NSE. Starting the session on a positive note, the scrip went on to mark its day's high at ₹543.9 per share.

ICICI Securities

ICICI Securities shares closed lower for the fourth session in a row on Thursday. The scrip ended 1.72% down at ₹728.95 apiece on the NSE. The stock, after opening significantly lower, fell to a day's low of ₹708.55 before clawing back some of its lost territory.

Meanwhile, shareholders approved a proposal to delist ICICI Securities Ltd, following which the brokerage will be a wholly-owned subsidiary of ICICI Bank.

Motilal Oswal Financial Services

Motilal Oswal Financial Services shares closed 0.64% lower at ₹1,670.75 per share. After opening slightly higher, the stock marked the day's high of ₹1,701.15 before losing ground. Intraday, the stock fell to a low of ₹1,656 apiece on the NSE.

Geojit Financial Services

Shares of Geojit Financial Services Ltd extended their decline for the third consecutive session on Thursday, ending 0.54% lower at ₹64.1 apiece on the NSE today. Starting the session on a positive note, the brokerage's scrip went on to climb the day's high of ₹66.85 before easing.

Nuvama Wealth Management

Nuvama Wealth Management Ltd stock dropped 0.5% to end at ₹4,690 apiece on the NSE. In the previous session, the brokerage's shares surged 15.78%.

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Upstox
Upstox News Desk is a team of journalists who passionately cover stock markets, economy, commodities, latest business trends, and personal finance.

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