Most brokerage shares drop up to 4% despite SENSEX, NIFTY recovery

Domestic benchmark indices SENSEX and NIFTY recovered in the second half of the session to end higher on Monday. The SENSEX gained 105 points, or 0.14%, to close at 72,748.42 while the Nifty edged higher by 32.35 points, or 0.15%, to end at 22,055.7.

Starting on a tepid note, the BSE gauge SENSEX slipped to a day's low at 72,314.16 before making a remarkable recovery. The index climbed over 675 points from the day's lowest level to a high of 72,986. Likewise, the broader NSE NIFTY opened below the key 22,000 level and hit the day's low of 21,916.55 before reclaiming the lost ground. The 50-share index scaled over 200 points from its lowest point to touch the day's high of 22,124.

In contrast to the broader market performance, shares of most brokerages dropped on Monday. Out of the 11 brokerage stocks reviewed, six closed in the negative territory.

Shares of leading brokerage firms, like IIFL Securities Ltd, Angel One, Nuvama Wealth Management Ltd, Monarch Networth Capital, Motilal Oswal Financial Services and ICICI Securities, dropped as much as 4.47% to close in red.

On the other hand, Dolat Algotech Ltd, Anand Rathi Wealth Limited, 5Paisa Capital Ltd, SMC Global Securities Limited and Geojit Financial Services Ltd closed with gains.

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

Angel One

Angel One stock logged its second straight day of fall on Monday to close at ₹2,535 apiece, down 3.43%, on the NSE. The brokerage's stock opened the session flat and hit a low of ₹2,525 intraday. It briefly traded in positive territory and touched the day's high at ₹2,675 per share.

ICICI Securities

Shares of ICICI Securities Ltd extended their losses for the sixth straight session on Monday. The stock closed 0.61% lower at ₹722.45 on the NSE. After a gap-up opening, the brokerage share reached an intraday high of ₹736 before retracting. Intraday, the stock hit a low of ₹718.45.

Motilal Oswal Financial Services

Motilal Oswal Financial Services stock closed 1.25% lower at ₹1,462 apiece on the NSE, extending the losing streak for the second session in a row. After opening on a flat note, the brokerage's shares touched the day's high of ₹1,499 before surrendering gains.

Anand Rathi Wealth Limited

Anand Rathi Wealth stock reversed its four-day losing streak on Monday, ending 2.34% higher at ₹3,660 apiece. The stock opened flat but soon gained momentum to a high of ₹3,744.70. However, it failed to maintain buoyancy and revisited the opening level later.

SMC Global Securities Limited

SMC Global Securities shares rose for the third straight day on Monday. The shares closed 0.97% higher at ₹120 apiece on the NSE. The brokerage's stock started positively and touched the day's high at ₹123.9 apiece.

5Paisa Capital Ltd

5Paisa Capital shares gained 1.95% to close at ₹520, marking its third consecutive session of gains on Monday. The stock started sluggishly and reached its day's low of ₹493.35 before reclaiming some of its ground.

IIFL Securities Ltd

IIFL Securities shares fell 4.47% to settle at ₹112.2 on the NSE, marking the second consecutive loss. Starting on a negative note, the stock touched the day's low of ₹111.5.

Dolat Algotech Ltd

Dolat Algotech shares gained 3.38% to close at ₹68.8 on the NSE. The stock started on a positive note and rallied further to touch the day's high of ₹72.9.

Geojit Financial Services Ltd

Shares of Geojit Financial Services Ltd shares gained 0.39% to close at ₹64.95 apiece on the NSE. Intraday, the brokerage's shares swung between a high of ₹65.45 and a low of ₹63.75 apiece.

Nuvama Wealth Management Ltd

Shares of Nuvama Wealth Management Ltd stock snapped its two-day winning run on Monday. The shares closed 1.65% down at ₹4,136 apiece on the NSE. Intraday, the stock surged to hit a high of ₹4,237.8 and plunged to a low of ₹4,042.5.

Monarch Networth Capital

Shares of Monarch Networth Capital fell 1.64% to end at ₹526.9 apiece on the NSE on Monday. Despite opening significantly lower, the stock managed to hit the day's high of ₹546 before surrendering those gains.