Shares of Angel One rose sharply on Thursday after the brokerage firm reported a 34 percent year-on-year growth in its client base for May, sparking a broader rally in capital market-related stocks.
The stock climbed as much as 3.46 percent to an intraday high of Rs 3,237 apiece on the NSE, extending its two-day gains. According to the Angel One's monthly business update, gross client acquisition in May was up 1.7 percent on a sequential basis.
The positive update from Angel One lifted sentiment across the capital markets segment. The Nifty Capital Market index rose up to 2 percent intraday, supported by gains in BSE, HDFC Asset Management Company (AMC), Central Depository Services (India) Ltd (CDSL), and Multi Commodity Exchange (MCX), which rose between 1 and 3 percent.
Shares of BSE Ltd hit a fresh 52-week high of Rs 2,904.5 during the session.
The rally in these counters comes amid strong momentum in the primary market. The recent revival in mainboard IPO activity has boosted investor sentiment and is driving fresh interest in capital market service providers.
Analysts said value buying also played a role, as many of these stocks had seen corrections from their recent highs.
Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
