Brokerage stocks gain up to 8% as SENSEX, NIFTY extend gains
Upstox
3 min read • Updated: April 22, 2024, 7:04 PM
Summary
Most brokerage stocks ended in the green on Monday, April 22. Shares of brokerage firms like IIFL Securities, Dolat Algotech, Geojit Financial Services, Motilal Oswal Financial Services, SMC Global Securities and Angel One saw significant gains in intraday trade.
Most brokerage stocks closed with gains on Monday, April 22, mirroring the positive trend in the broader market as the benchmark indices extended gains for the second straight day.
Indian equity benchmarks, SENSEX and NIFTY, settled near day’s high following an upbeat mood among investors due to positive global cues.
SENSEX settled 560.29 points, or 0.76%, higher at 73,648.62, NIFTY50 closed at 22,336.40, up 189.4 points, or 0.85%. Most brokerage firms ended in the positive territory aligning with the gains in the broader market.
Brokerage firms like IIFL Securities and Dolat Algotech marked significant gains, both ending the session with a rally of up to 7%. Geojit Financial Services, Motilal Oswal Financial Services, SMC Global Securities and Angel One also saw an upward momentum in the intraday session. On the other hand, ICICI Securities and Monarch Networth Capital experienced moderate gains.
However, stocks like Anand Rathi Wealth, Nuvama Wealth Management and 5Paisa Capital ended the day in the red.
Of the 11 brokerage stocks reviewed in today’s market wrap, nine finished in positive territory, while two ended the session in negative territory.
IIFL Securities
IIFL Securities closed 6.87% higher on the NSE at ₹147.4 per share. After a gap up opening the stock soared to an intraday peak of ₹148.45, up 7.15%, before paring some of the gains.
Dolat Algotech
Dolat Algotech, rebounding from losses in the previous session, settled 6.57% higher at ₹100.5 apiece on the NSE. The stock had touched an intraday high of ₹102.9 apiece, marking a surge of 8.72%.
Geojit Financial Services
Shares of Geojit Financial Services ended 5.43% higher at ₹83.5 apiece on the NSE. The stock opened at ₹80, marginally higher than its previous close of ₹79.20, and then went on to hit an intraday high of ₹83.9.
Motilal Oswal Financial Services
Motilal Oswal Financial Services settled 5.02% higher at ₹2,344 apiece on the NSE. The stock opened at ₹2,295, and rallied as much as 5.52% to touch an intraday high of ₹2,358.9 apiece.
SMC Global Securities
SMC Global Securities shares closed with a gain of 4.92% at ₹147.1 apiece on the NSE.
Angel One
Angel One, which had closed the previous session in the red, saw a strong recovery, ending the session 4.65% higher at ₹2,813 apiece on the NSE.
ICICI Securities
ICICI Securities shares closed 1.88% higher at ₹724 apiece on the NSE.
Monarch Networth Capital
Monarch Networth Capital shares closed marginally higher at ₹605 apiece with a gain of 1.2%.
Anand Rathi Wealth
Anand Rathi Wealth, which had been among the gainers in the previous session, experienced a loss of 3.6% at close. The brokerage stock settled at ₹4,021 apiece on the NSE.
Nuvama Wealth Management
Nuvama Wealth Management continued its downward trend on Monday for the second straight day. The stock ended 1.05% lower at ₹5,242.15 per share.
5Paisa Capital
5Paisa Capital’s share closed 0.01% lower at ₹549 apiece on the NSE.