Brokerage stocks slip as SENSEX, NIFTY drop up to 0.5%

Shares of brokerage houses suffered losses on Tuesday, aligning with weaker broader markets where sentiments remained cautious. Indian benchmark equity indices SENSEX and NIFTY fell up to 0.5%, ending a three-day gaining streak amid heavy selling in certain sectors.

The 30-share BSE SENSEX closed 361.64 points or 0.50% lower at 72,470.3, while the broader NSE NIFTY settled the day 92.05 points, or 0.42% lower at 22,004.7 level.

Barring Angel One and Dolat Algotech, all brokerage shares were closed in the red. Among the prominent losers were - IIFL Securities Ltd, Nuvama Wealth Management, Geojit Financial Services, 5Paisa Capital and Anand Rathi Wealth.

Contrary to the broader trend, Angel One shares surged 3.36%, while Dolat Algotech gained 0.66%.

In today's market wrap, here's a quick recap of the performance of leading brokerage stocks.

Angel One

Angel One shares rose for the fourth straight session on Tuesday, closing 3.36% higher at ₹2,750 apiece on the NSE. Starting on a positive note, the stock strengthened gains and touched the day's high of ₹2,760.9.

ICICI Securities

ICICI Securities shares fell for the second straight session on March 26, ending 0.83% lower at ₹745 apiece on the NSE. After opening significantly down, the stock plunged to a low of ₹735 in the day's trade.

Last Friday, ICICI Securities received an administrative warning from capital market watchdog SEBI concerning the inspection of books and records for merchant banking activities.

Motilal Oswal Financial Services

Motilal Oswal Financial Services shares dropped marginally to end 0.37% lower at ₹1,666, marking the first fall in the last three sessions. After opening lower, the stock recovered during the day and climbed to the day's high of ₹1,694.45 apiece before relinquishing some gains.

Geojit Financial Services

Shares of Geojit Financial Services Ltd snapped their two-day winning run on Tuesday, closing 2.78% lower at ₹64.65 apiece on the NSE. During the session, the brokerage's stock swung between a high of ₹67.35 and a low of ₹63.90 apiece.

Anand Rathi Wealth

Anand Rathi Wealth shares settled 1.67% lower at ₹3,575 apiece on the NSE today. The stock had logged gains in the previous two sessions. The brokerage shares moved in a tight range during the day, oscillating between a low of ₹3,562 and a high of ₹3,665.7 apiece on the NSE.

SMC Global Securities

Snapping its two-day winning streak, SMC Global Securities stock closed 1.19% down at ₹120.5 on the NSE. The stock opened marginally lower and fell to a day's low of ₹119.6.

5Paisa Capital

5Paisa Capital stock slumped 2.24% to close at ₹476.9 on the NSE today. The stock started the day sluggishly and marked the day's low at ₹472. The brokerage's shares briefly traded in positive territory, marking the day's peak of ₹489.5 apiece.

IIFL Securities

IIFL Securities shares plunged 4.56% to close at ₹113.1 a unit on the NSE on Tuesday, breaking a two-day northward journey. The stock opened on a positive note but failed to carry the momentum. The stock fell to a low of ₹112.6 per share intraday.

Dolat Algotech

Dolat Algotech shares rose 0.66% to settle at ₹68.8 apiece on the NSE. The stock opened higher and held on to those early gains during the day. The stock touched a high of ₹69.75 on the NSE.

Nuvama Wealth Management

Nuvama Wealth Management Ltd stock slipped 2.73% to end at ₹4,113.9 apiece on the NSE. The stock opened a gap-up and recorded further gains, reaching the day's high of ₹4,269.45 per share on the NSE before sliding due to selling pressure later.

Monarch Networth Capital

Shares of Monarch Networth Capital logged their first fall in the last three sessions on Tuesday, closing 1.55% lower at ₹536.7 apiece on the NSE. After a good start to the session, the stock reached a high of ₹554.2 per share. However, the brokerage stock later surrendered the gains to end lower.