Most brokerage stocks extend losses for second straight day despite recovery in SENSEX, NIFTY

Indian benchmark equity indices SENSEX and NIFTY closed in the green on Wednesday, a day after witnessing over a 1% drop each. Shedding intraday surges, the BSE SENSEX eked out 89.64 points or 0.12% gains to settle at 72,101.69, while the NSE NIFTY ended 21.65 points or 0.10% higher at 21,839.10.

Intraday, the 30-share SENSEX fought multiple bouts of volatility and swung between a high of 72,402.67 and a low of 71,674.42. Similarly, the NSE NIFTY started the day on a firm footing and marked the day's high of 21,930.90. The NSE gauge fell about 220 points from the day's highest level to touch a low of 21,710.2 during the session.

In contrast to the trends observed in benchmark indices, shares of most brokerage firms closed with low to moderate losses for the second straight day. Of the 11 brokerage stocks reviewed, six shares suffered losses.

The top losers in the segment were IIFL Securities, Anand Rathi Wealth, Monarch Networth Capital, Geojit Financial Services, 5Paisa Capital and Dolat Algotech.

Motilal Oswal Financial Services led the gainers pack, followed by Angel One, Nuvama Wealth Management, SMC Global Securities and ICICI Securities.

In market wrap, here's how the shares of brokerage firms performed in Wednesday's session.

Angel One

Angel One stock logged its first rise in the past four days, closing 4.33% higher at ₹2,581.25 apiece on the NSE on Wednesday. The brokerage's stock opened positively and hit a day's high of ₹2,678 during the intraday trade.

ICICI Securities

Shares of ICICI Securities Ltd shares snapped their seven-day losing streak on Wednesday, ending 1.67% higher at ₹726 on the NSE. The brokerage's shares opened flat but gained strength as the trade progressed. It hit an intraday high of ₹727 apiece.

Motilal Oswal Financial Services

Motilal Oswal Financial Services stock closed 5.15% higher at ₹1,575 apiece. Opening marginally lower, the brokerage firm's shares fell further to mark the day's low at ₹1,456.5 apiece before making a remarkable comeback towards the end of the session.

Anand Rathi Wealth Limited

Anand Rathi Wealth stock ended its two-day uptrend by falling 1.02% on Wednesday. The stock closed at ₹3,606 apiece. The scrip opened flat and came under selling pressure as the day progressed, hitting the day's low of ₹3,575 per share.

SMC Global Securities Limited

SMC Global Securities shares closed marginally higher by 0.67% at ₹119.40 apiece on the NSE. The brokerage stock started on a high note and hit the day's high of ₹122 before easing some gains.

5Paisa Capital Ltd

5Paisa Capital shares closed almost flat on Wednesday. The stock ended the session 0.02% lower at ₹496. Starting sluggishly, the stock reached its day's low of ₹492 apiece.

IIFL Securities Ltd

IIFL Securities shares logged their fourth straight session of losses on Wednesday. The stock closed 2.13% lower at ₹108 apiece on the NSE.

Dolat Algotech Ltd

Dolat Algotech shares slipped 0.51% to close at ₹68.4 on the NSE. The stock started weaker and touched the day's low of ₹66.5 before slightly recovering. It also marked the day's high at ₹71.8 per share.

Geojit Financial Services Ltd

Shares of Geojit Financial Services Ltd dropped 0.86% to close at ₹63.2 apiece, marking their second straight loss on the NSE. Starting on a flat note, the brokerage's shares hit a high of ₹64.6 and a low of ₹62.6 apiece during the day.

Nuvama Wealth Management Ltd

Shares of Nuvama Wealth Management Ltd stock snapped its two-day falling trend, closing 2.22% higher at ₹4,089.7 apiece on the NSE. Intraday, the stock hit a high of ₹4,190 before surrendering some gains.

Monarch Networth Capital

Shares of Monarch Networth Capital slipped for the third session in a row on the NSE on Wednesday. The stock ended 1.05% lower at ₹515.55 apiece. The brokerage company's shares opened on a tepid note and plunged to the day's low of ₹510.65 before reclaiming some of their lost ground.