Brokerage stocks gain up to 12% as NIFTY, SENSEX settle higher

Most brokerage stocks ended in the green on Wednesday, April 24, mirroring the gains seen in the benchmark indices, SENSEX and NIFTY.

While the 30-share BSE Sensex settled 114.49 points, or 0.15%, higher at 73,852.94, NSE NIFTY closed at 22,402.4 level with gains of 34.4 points, or 0.15%.

The key Indian benchmarks extended gains for the fourth straight day following firm global cues. However, SENSEX and NIFTY pared some early gains due to heavy selling in final hours and settled marginally higher.

Among the leading brokerage stocks, Geojit Financial Services, 5Paisa Capital, Nuvama Wealth Management, Motilal Oswal Financial Services, Dolat Algotech, ICICI Securities, SMC Global Securities and Monarch Networth Capital closed higher. Mirroring the overall positive trend in the broader market, the leading broking firms gained up to 12% on Wednesday.

However, IIFL Securities closed flat while Angel One and Anand Rathi Wealth ended the session in the negative territory.

Out of the 11 brokerage stocks reviewed in today’s market wrap, eight closed higher, one remained unchanged, and two ended lower.

Geojit Financial Services was the top gainer among brokerage firms as the stock closed more than 12% higher on the NSE. 5Paisa Capital emerged as the second top gainer with the shares settling more than 4% higher. Nuvama Wealth Management also witnessed a significant gain of 3.75% at close.

Among the gainers, reviewed in today’s wrap, gained between 0.5% to 2.7%.

• Geojit Financial Services (+12.12%)
• 5Paisa Capital (+4.08%)
• Nuvama Wealth Management (+3.75%)
• Motilal Oswal Financial Services (+2.77%)
• Dolat Algotech (+1.56%)
• ICICI Securities (+1.15%)
• SMC Global Securities (+1.05%)
• Monarch Networth Capital (+0.63%)
• IIFL Securities (ended flat)
• Angel One (-0.58%)
• Anand Rathi Wealth (-0.24%)