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  1. Brokerage stocks wrap: IIFL Securities down 5.6%, ICICI Securities, Angel One trade lower

Brokerage stocks wrap: IIFL Securities down 5.6%, ICICI Securities, Angel One trade lower

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4 min read • Updated: March 11, 2024, 7:43 PM

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Brokerage stocks took a beating on Monday in line with the overall weak sentiment in the stock markets.

Brokerage stocks closed in red

Domestic benchmark indices SENSEX and NIFTY50 nosedived on Monday as investors turned cautious ahead of the release of key macro data. The BSE Sensex tumbled 616.75 points or 0.82% to end at 73,502.64. The NSE NIFTY50 crashed 160.90 points or 0.72% to settle at 22,332.65.

On Monday, the 30-share BSE gauge opened slightly higher than its previous close but kept sliding through the day to hit the lowest level at 73,434 before recovering some lost ground. Likewise, the NSE barometer NIFTY50 started positively and marked the day's high at 22,517.50 before surrendering those gains. The index hit its intraday low of 22,307.25.

In the previous session on Thursday, both SENSEX and NIFTY logged their fresh all-time highs. The market was closed on Friday for the Mahashivratri holiday.

In line with benchmarks SENSEX and NIFTY50, shares of brokerage firms too saw aggressive selling on Monday. Among the prominent losers were IIFL Securities, Geojit Financial Services and Motilal Oswal Financial Services, dropping as much as 5.67%.

In today's market wrap, here's a look at the performance of the shares of major brokerage firms.

Angel One

Angel One shares fell 2.07% to close at ₹2,679.50 apiece on the NSE today, marking their fourth straight session of loss. The brokerage's shares started the session on a positive note but lost momentum as the day progressed and marked the day's lowest level at ₹2,625 apiece.

ICICI Securities

Shares of ICICI Securities Ltd closed 2.9% lower at ₹769 apiece on the NSE today. The stock opened on a flat note and hit the day's low of ₹765.10 before reclaiming some of its lost ground.

Motilal Oswal Financial Services

Motilal Oswal Financial Services shares fell for the fourth straight session on Monday. The stock settled 3.67% down at ₹1,522 on the NSE. Despite opening significantly higher, the stock failed to maintain momentum as the day progressed and plunged to a day's low of ₹1,514.95.

Anand Rathi Wealth Limited

Anand Rathi Wealth shares ended lower by 1.41% at ₹3,893 apiece on the NSE. The stock opened slightly higher at ₹3,984.20 but came under selling pressure in line with overall weak sentiments in the broader market. The stock swung between a high of ₹3,984.20 and a low of ₹3,828.60 before ending in the negative zone.

Anand Rathi shares have fallen for only two sessions since March 1. Otherwise, the stock has generally been on an upward trajectory.

SMC Global Securities Limited

The shares of SMC Global Securities closed just marginally lower at ₹125.95. Despite starting on a positive note, the stock experienced volatility, reaching the day's lowest level at ₹122.10 before staging a recovery.

5Paisa Capital Ltd

Shares of the brokerage firm have fallen for four consecutive sessions. The stock ended 2.05% lower at ₹516 on the NSE on Monday. 5Paisa Capital Ltd's stock opened significantly higher but could not sustain the momentum. The stock plunged to hit an intraday low of ₹512.90.

IIFL Securities Ltd

IIFL Securities shares plunged 5.62% to close at ₹125.05 apiece on the NSE. The stock swung between a low of ₹124.65 and a high of ₹135.45 during the day.

Dolat Algotech Ltd

Shares of Dolat Algotech slipped 2.92% to settle the day at ₹74.75. Shares swung between the day's lowest level at ₹73 and the day's high of ₹77.80 apiece on Monday.

Geojit Financial Services Ltd

Geojit Financial Services Ltd ended 4.03% lower at ₹69.10 on the NSE. The stock touched the day's high at ₹72 and a low of ₹68.35 apiece.

Nuvama Wealth Management Ltd

Nuvama Wealth Management Ltd closed 2.35% lower at ₹3,989 apiece on the NSE. This marked the fourth consecutive session of losses for the brokerage's stock. The stock touched a low of ₹3,900 on Monday.

Monarch Networth Capital

Monarch Networth Capital closed 1.69% lower at ₹586 after a lacklustre opening on the NSE on Monday. Intraday, the stock oscillated between a high of ₹614.45 and a low of ₹582.15.