Mixed trend for brokerage stocks amid volatility in broader markets

Brokerage stocks had a mixed run at stock exchanges on Friday amid volatility in the broader markets. The Sensex and the Nifty remained flat as the Reserve Bank of India (RBI) kept repo rates unchanged.

The SENSEX closed up by just 20.59 points, or 0.03%, at 74,248.22, while the NIFTY settled flat at 22,513.7.

Out of the 11 brokerage firm stocks reviewed today, a total of 6 stocks closed in the green, 4 closed in the red and one remained unchanged.

The list of gainers included IIFL Securities, Anand Rathi Wealth, ICICI Securities, Dolat Algotech, 5Paisa Capital and Monarch Networth Capital.

Among the losers were Geojit Financial Services, SMC Global Securities, Motilal Oswal Financial Services and Angel One.

Meanwhile, shares of Nuvama Wealth Management remained unchanged compared with their previous close.

Here is the recap of the performances of top brokerage stocks on Friday:

Geojit Financial Services: Snapping a four-day rally, shares of Geojit Financial Services dropped 0.8% to ₹78.50 on NSE.

SMC Global Securities: After rising for six consecutive sessions, shares of SMC Global Securities fell on Friday to settle the session 0.7% lower at ₹131.85 on NSE.

Motilal Oswal Financial Services: Motilal Oswal shares had a volatile session on Friday, with the stock switching between the red and green throughout the day. It finally closed 0.16% down at ₹1,830.20 on NSE, snapping a four-day rally.

Anand Rathi Wealth: Bucking the weak trend shown by brokerage stocks, shares of Anand Rathi Wealth gained for a third straight day. The stock jumped 2.5% to ₹3,621 on NSE.

Nuvama Wealth Management: After hitting a 52-week high of ₹5,001 on Friday, shares of Nuvama Wealth Management erased all its gains to close unchanged at ₹4,950.95 on NSE.

ICICI Securities: Shares of ICICI Securities rallied to an intraday high of ₹721.95 apiece on the NSE. The brokerage stock pared some of its gains and settled at ₹721 per share, up 0.27%.

Dolat Algotech: The Dolat Algotech stock also had a volatile run in Friday’s session, switching between gains and losses multiple times. It closed 0.06% up at ₹77.75 on NSE.

5Paisa Capital: Shares of 5Paisa Capital gained nearly 1% on Friday to close the session at ₹574.

Angel One: Extending losses for a second day, the Angel One stock fell close to 1% to ₹2,990.55 on NSE. The stock had lost 4.2% in the previous session as well.

IIFL Securities: Shares of IIFL Securities were the biggest gainers among brokerage stocks on Friday. The stock gained 4.9% to close at ₹142.60 on NSE.

Monarch Networth Capital: Rising for a sixth straight session, the Monarch Networth Capital stock closed 1.73% higher at ₹618.05 apiece on NSE on Friday.