Shriram Finance gains nearly 6% as financial stocks rally after US election outcome
The NBFC heavyweight recorded strong trading activity, with volumes reaching 67.79 lakh shares and its market capitalisation standing at ₹2.26 lakh crore
Shriram Finance Limited experienced a significant 5.77% rise on the National Stock Exchange, reaching a peak of ₹967.00 intraday. The NBFC's shares closed at ₹961.20, marking a gain of ₹52.45 from the previous close of ₹908.75. The trading volume reached 67.79 lakh shares, translating to a turnover of ₹650.54 crore, with a weighted average price of ₹959.59.
The sell orders outnumbered buy orders, comprising 63.28% of the pending quantity, while the market capitalisation stood at approximately ₹2,26,249 crore. Analysts attribute the rally to a Democratic victory in both chambers of the US Congress, which has boosted risk sentiment in emerging markets. Vinit Bolinjkar, Head of Research at Ventura Securities, highlighted that lower US yields and a weaker dollar might encourage foreign investments in Indian equities.
Shriram Finance has outperformed the Nifty 50 by 20.56% over the past year and 138.46% over three years, still trading below its 52-week high of ₹1,153.70.
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