Most brokerage stocks tank up to 4% amid volatility in broader market

Most brokerage stocks closed in the red with losses up to 4% on Monday, May 6, as the Indian benchmarks settled flat amid volatility in the broader market.

Key indices, SENSEX and NIFTY, settled nearly flat after initially trading in positive territory. While SENSEX ended the day with a slight uptick of 17.39 points, or 0.02%, at 73,895.54, NIFTY50 dropped 33.15 points, or 0.14%, settling at 22,442.7.

The market witnessed a muted spirit of investors on Monday. Volatility gauge India VIX jumped as much as 15% to 16.58 in the election season.

Mirroring the sentiment in the broader market, most brokerage stocks reviewed in today’s market recap ended in the negative territory.

Out of the 11 broking firms reviewed in today’s market wrap, only four— Dolat Algotech, Nuvama Wealth Management, Anand Rathi Wealth and ICICI Securities— closed with gains.

Dolat Algotech led the pack with substantial gains, soaring 15.83% at close. Following suit, Nuvama Wealth Management witnessed an increase of over 3%, while Anand Rathi Wealth and ICICI Securities saw modest gains.

The losers among the leading brokerage firms included Motilal Oswal Financial Services, Geojit Financial Services, Monarch Networth Capital, IIFL Securities, Angel One, SMC Global Securities and 5Paisa Capital.

Of these, SMC Global Securities and 5Paisa Capital saw losses of more than 3%.

Among the 11 brokerage stocks reviewed today, four closed higher, while the remaining seven ended with losses.

Here’s a look at the gains and losses of brokerage stocks at close:

• Dolat Algotech (15.83%)
• Nuvama Wealth Management (+3.17%)
• Anand Rathi Wealth (+1.42%)
• ICICI Securities (+0.01%)
• Motilal Oswal Financial Services (-1.10%)
• Geojit Financial Services (-1.38%)
• Monarch Networth Capital (-2.39%)
• IIFL Securities (-2.62%)
• Angel One (-3.19%)
• SMC Global Securities (-3.27%)
• 5Paisa Capital (-3.87%)