Shares of Central Depository Services India Ltd (CDSL) on June 2 surged around 9 percent amid strong jump in daily volumes. A rub-off effect was seen in other capital market stocks as well, which pushed the Nifty Capital Markets index up over 2 percent in the afternoon.
CDSL shares were trading at Rs 1,667 apiece, the highest level seen by the stock in nearly five months. Over 1.2 crore shares were involved in trade today so far, as seen at 1 pm. This is nearly 2 times higher than the 57.10 lakh volume seen by the stock in the previous trading session. The stock has now risen nearly 60 percent from its March low of Rs 1,047 apiece.
Among other capital markets stock, KFin Technologies gained over 6 percent to trade at Rs 1,148 apiece. CAMS, Anand Rathi Wealth and Angel One shares followed, jumping around 4 percent each.
360 One WAM and Nuvama shares gained over 2 percent, while Motilal Oswal Financial Services, Multi Commodity Exchange of India (MCX) and Bombay Stock Exchange (BSE) shares rose over 1 percent each.
Notably, the rise in the capital market stocks comes despite a muted market sentiment. India VIX, which measures expected volatility in the markets based on options, gained around 6 percent to hover around 17.12 amid rising geopolitical tensions between Ukraine and Russia, and escalating trade tensions between US and China. Benchmark indices Sensex and Nifty were standing in the red with marginal losses. Sensex was down over 188 points to hover around 81,257, while Nifty 50 dropped 0.21 percent to 24,699.
Capital market stocks, which normally skid as investors worry about geopolitical tensions, have dodged the market trend this time to trade significantly higher.
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