BSE Financials: These stocks were the top sectoral gainers on October 4

Top three financial stocks that rallied more than 10 per cent in today’s session.

On a day that marked the return of the exuberance among the bulls, the frontline index the Sensex closed at 58,054, up by 2.2 per cent or 1266 points. 

Max Ventures, Angel One and M&M Financial Services witnessed positive action in today’s session.  

Shares of Max Ventures and Industries Ltd zoomed 20 per cent in today’s session to touch a new 52-week high at Rs 173.80. At the intra-day high, the stock was locked in the upper circuit of 20 per cent. The scrip has been in momentum after the company announced that New York Life plans to spend Rs 196 crore for a 49% stake in the company while Max Estates will be responsible for the project's ultimate delivery and will be entitled to a development fee. 

Another constituent of BSE Financial that rallied was Angel One gaining 12.35 per cent in today’s session to close at Rs 1532.80. Intraday high and low registered by the shares of Angel One were at Rs 1549 and Rs 1420.60, respectively. It added 3.9 lakh, new customers in September 2022 which was lower by 0.5 per cent on a YoY basis. With the new additions, the overall number of clients comes to 115.7 lakh, up from 65.2 lakh over the same period in September 2021, a growth of 77.4 per cent, the company reported in its exchange filing. However, the Average Daily Turnover stood at Rs 13,73,800 crore which showed a growth of 116.4 per cent YoY and 10.9 per cent MoM. 

M&M Financial Services Ltd rallied 11.61 per cent over its previous close on the back of a healthy September 2022 update announced yesterday. The company managed to complete disbursement of approximately Rs 4,080 crore delivering a 110 per cent YoY growth. The asset quality further improved during the month & the quarter. As on 30th September 2022, the company expects its Gross Stage 3 to be around 7 per cent (compared to 8 per cent as of 30th June 2022) and Gross Stage 2 to be around 10 per cent (compared to 11.7 per cent as of 30th June 2022).