Most brokerage stocks extend gains on Friday as NIFTY, SENSEX close higher

Most brokerage shares extended gains on Friday as broader markets closed on a firm note despite initial hesitancy. Key stock indices Nifty50 and Sensex gained up to 0.4% on the back of positive global trends.

BSE Sensex closed higher 190.75 points, or 0.26%, at 72,831.94 while broader Nifty50 advanced 84.8 points, or 0.39%, to settle at 22,096.75.

Market breadth was positive on Friday as 1,688 NSE-listed shares advanced and 893 shares declined while 114 stocks closed unchanged.

Similar trends were seen among major brokerage shares on Friday, Except for ICICI Securities, which was hit by a GST tax demand notice, and two others.

Except for three out of 11 brokerage stocks covered in today's market wrap, all major entities in the segment advanced gains or cut short their declining streak.

Extending gains for the second day, Motilal Oswal Financial Services jumped 4.31% while Geojit Financial Services rallied 3.33% following a more than 2% hike in the previous day. Monarch Networth was also among major gainers.

Here's a look at the performance of the shares of major brokerage firms on Friday.

ICICI Securities

ICICI Securities shares declined by 1.39% to close at ₹751 per share on the NSE after the company announced receiving a tax demand notice of ₹11.4 lakh from the State Goods and Service Tax Department, Rajasthan. The stock fell to a low of ₹741.6 per share in day trade. ICICI Securities shares had gained over 5% on Thursday.

Angel One

Angel One shares extended the winning run for the third straight day on Friday, rising by 1.79% to settle at ₹2,662.55 apiece on the NSE. The stock hit a high of ₹2,719.95 in intraday trade.

Motilal Oswal Financial Services

Motilal Oswal Financial Services shares jumped 4.31% to close at ₹1,675, extending gains for the second day. Shares recovered from early lows to hit a high of ₹1,682.9 apiece on the NSE intraday. The stock had gained over 2% on Thursday.

Geojit Financial Services

Shares of Geojit Financial Services Ltd rose by 3.33% to settle at ₹66.65 apiece on the NSE extending gains for the second straight day. Geojit opened lower but later pared losses to hit a high of ₹67.5 apiece. The stock closed 2.22% higher on Thursday after four straight days of losses.

Anand Rathi Wealth

Anand Rathi Wealth shares also closed higher for a second straight day. After moving in a tight range during the day, the stock closed 0.77% higher at ₹3,659 per share on the NSE.

SMC Global Securities

Rising for a second day in a row, SMC Global Securities shares advanced 1.2% to ₹122.25 per share on the NSE amid broader positive sentiment. The stock moved in a range of ₹123.3 to ₹120.55 in day trade.

5Paisa Capital

Ending its three-day losing streak, 5Paisa Capital rebounded by 0.52% to close at ₹490 per share on the NSE on Friday. After recovering from the early low of ₹486.10 per share amid a recovery in the market, it hit a high of ₹499 per share in day trade.

IIFL Securities Ltd

IIFL Securities shares rose for the second day to end 1.9% higher at ₹118 per share. The stock opened lower and touched a low of ₹115.3 per share. In late trade the stock pared losses and hit a high of ₹120 in day trade. The stock snapped its four-day losing streak on Thursday and closed 5.77% higher.

Monarch Networth Capital

Shares of Monarch Networth Capital rose for the second day in a row, closing higher by 2.46% at ₹551 per share. After a strong start, the stock hit a high of ₹566.70 on the NSE. The stock rose by 4.54% on Thursday, after four straight sessions of losses.

Dolat Algotech

Dolat Algotech shares declined over 2.43% to settle at ₹68.3 apiece on the NSE. The stock opened higher but failed to hold its ground and later slipped to a low of ₹68.15 in day trade. The stock hit a high of ₹70.95 per share on NSE.

Nuvama Wealth Management

Cutting short its two days of gains, Nuvama Wealth Management Ltd stock closed lower by 1.81% at ₹4,182.25 per share on Friday on the NSE. After its initial gains, the stock traded in negative territory in the day trade. It hit a low of ₹4,182.20 on the NSE.