Brokerage stocks shine as SENSEX, NIFTY settle at record highs
Upstox
3 min read • Updated: April 8, 2024, 5:22 PM
Summary
Barring a few, broking firm stocks ended with healthy gains on Monday, mirroring the positive sentiment in market benchmarks the SENSEX and the NIFTY. Out of the 11 brokerage firm stocks reviewed in today’s market wrap, as many as 8 ended higher.
Brokerage stocks continued witnessing decent traction on Monday, April 8, as most of them closed with gains, in sync with the positive trend observed in the broader markets.
Benchmark indices NSE NIFTY and BSE SENSEX settled at record highs on Monday, following positive cues from global markets and rally in few index heavyweights.
NIFTY 50 hit its fresh all-time high of 22,697.3 intraday and closed 0.68% higher at 22,666.3 while SENSEX hit its fresh record high of 74,869.3 during the day before settling 0.67% higher at 74,742.5. Most of the brokerage firms closed in the green in line with the key benchmark indices. Out of the 11 brokerage stocks reviewed in today’s market wrap, as many as 8 ended higher. Shares of Geojit Financial Services, Motilal Oswal Financial Services and Dolat Algotech clocked strong gains.
Here is a recap of the performances of top brokerage stocks on Monday.
Dolat Algotech: Dolat Algotech shares jumped as much as 14% in intraday trade and eventually closed 13% higher at ₹87.75 apiece on the NSE.
Geojit Financial Services: A day after falling about 1%, Geojit Financial Services' share price saw strong gains, ending 6.83% higher at ₹83.7 apiece on the NSE.
SMC Global Securities: Shares of SMC Global Securities also resumed their upward march, closing 1.63% higher at ₹ 133.7 apiece. In the previous session, the stock had fallen 0.90%.
Motilal Oswal Financial Services: The stock closed 3.72% higher at ₹1,911 apiece on the NSE.
Anand Rathi Wealth: Anand Rathi Wealth share price extended gains into the fourth consecutive session, rising 3.97% to ₹3,775 apiece.
Nuvama Wealth Management: Nuvama Wealth Management shares closed with a gain of 1.48% at ₹5,032.35 apiece, extending rally for the fifth consecutive session.
IIFL Securities: Shares of IIFL Securities gained for the second consecutive session, ending the day 0.7% higher at ₹144.35 apiece on the NSE.
5Paisa Capital: 5Paisa Capital share price failed to perform and ended the day 1.95% lower at ₹562.55 apiece.
ICICI Securities: Shares of ICICI Securities ended lacklustre. The stock closed 0.1% lower at ₹719 apiece on the NSE.
Angel One: Angel One share price fell for the third consecutive session. The stock closed the day with a loss of 0.94% at ₹2,950.
Monarch Networth Capital: Shares of Monarch Networth Capital remained in the positive territory for the seventh session in a row. The stock closed with a decent gain of 0.87% at ₹623 on the NSE. In these seven sessions of gains, the stock has jumped 18.5%.