Home Trending Now Sensex, Nifty end with marginal gain; Adani Group stocks soar nearly 10 percent

Sensex, Nifty end with marginal gain; Adani Group stocks soar nearly 10 percent

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The BSE Sensex and Nifty concluded the trading week on a positive note, breaking a five-day losing streak with both benchmark indices registering marginal gains.

The Sensex gained 75.71 points, closing at 73,961.31, while the Nifty added 42.05 points, reaching 22,530.70. The upbeat sentiment was reflected in the performance of Nifty-listed companies, with advances outnumbering declines.

Among the Nifty firms, notable gainers included Adani Enterprises, Adani Ports, Shriram Finance, Coal India, and Tata Steel, while Divi’s Lab, Nestle India, LTIMindtree, Dr. Reddy, and Maruti emerged as the top losers.

All Adani group company shares closed higher. Adani Enterprises jumped 6.94 percent higher, while Adani Ports & SEZ rallied 4.01 percent. Adani Total Gas surged by 9.4 percent, while Adani Power climbed by 8.82 percent. Adani Energy Solutions closed 1.86 percent higher. Adani Green Energy shares rose by 2.03 percent, while Adani Wilmar, Ambuja Cements, and ACC recorded gains of 3.16 percent, 2.56 percent, and 2.22 percent, respectively. The group’s media company NDTV’s shares closed 7.78 percent higher.

The surge in Adani group shares is attributed to a report by investment bank and financial services firm Jefferies. According to the report, the conglomerate group is focusing on an “expansion spree,” with plans for a USD 90 billion capex over the next decade.

“The pre-election trading strategy has come to an end, and all eyes will be on the release of the exit poll for further action. Regional diversions, marginally low voter turnout, and strong resistance at the current range are prompting investors to adopt a cautious stance,” said Vinod Nair, Head of Research at Geojit Financial Services.

“They are aligning their investments toward fundamentally strong sectors and stocks to safeguard against any abrupt reactions in the market. On the global front, the release of inflation data from the US, which are estimated to be high, could sway global market sentiment in the near term,” he added.

(With ANI input)

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