Brokerage stocks suffer losses amid broad-based selloff
Upstox
2 min read • Updated: April 15, 2024, 7:09 PM
Summary
Most brokerage stocks ended in the red on Monday as the market sentiment remained weak amid rising geopolitical tensions due to escalation of Iran-Israel conflict. SENSEX and NIFTY fell over 1% each.
Most brokerage stocks ended with losses on Monday, April 15, mirroring weak market sentiment amid rising geopolitical tensions and fading hopes of rate cuts by the US Fed in June.
Market benchmark NIFTY closed with a loss of 1.1% at 22,272.5 while the SENSEX ended 1.14% lower at 73,399.78. Midcaps and smallcaps also suffered significant losses. The NIFTY Midcap 100 index fell 1.57% while the NIFTY Smallcap 100 index declined 1.73%.
Volatility index INDIA VIX jumped over 8% indicating rising nervouseness among market participants.
Here is a quick recap of the performances of top brokerage stocks on Monday:
ICICI Securities: ICICI Securities share price snapped its three-day winning run to close 0.68% lower at ₹727 on the NSE.
Motilal Oswal Financial Services: The stock suffered a strong loss of 2.95% to close at ₹1,996.9 apiece. It closed lower even as it announced the opening of its public issue of secured redeemable NCDs of the face value of ₹1,000 each for an amount up to ₹500 crore.
Anand Rathi Wealth: The share price jumped 4.76% to close at 4,200, rising for the second consecutive session, after it said its net profit jumped 33 per cent YoY.
Dolat Algotech: Dolat Algotech shares fell 1.94% to close at ₹88.25 per piece on the NSE.
Nuvama Wealth Management: The share price declined 2.48% to close at ₹5,280.05 apiece.
5Paisa Capital: The stock fell 3.4% to close at ₹535 apiece on the NSE ahead of its board meeting next week to consider the quarterly results. The company's board will meet on April 24 to consider and approve the yearly audited financial results.
Angel One: Angel One shares fell 1.15% to close at ₹2,848 per piece.
IIFL Securities: The scrip dropped by 3.37% to close at ₹134.8 apiece on the NSE.
Monarch Networth Capital: The stock ended at ₹586 with a loss of 1.84%.
Geojit Financial Services: Shares of the company dropped 2.68% to close at ₹79.95 per unit.
SMC Global Securities: The stock suffered a deep loss of 5.02% to close at ₹138.25 apiece.