Share Market Today: Sensex Rises 230 Points; Nifty At 24,275. Adani Stocks Gain
Share Market Today: On the 30-share Sensex platform, Adani Ports led the pack among the Sensex gainers, soaring 6 per cent. Other were NTPC, HDFC Bank, Bajaj Finance, Maruti Suzuki, and Axis Bank
Share Market Today: The two key equity benchmark indices, Sensex and Nifty, on Wednesday, jumped by a sharp rally in Adani Group stocks and renewed foreign fund inflows. The BSE Sensex rose 230 points to close at 80,234, after touching an intraday high of 80,511.15. On the other hand, the NSE Nifty50 gained 80 points settle at 24,275.
Stock update
On the 30-share Sensex platform, Adani Ports led the pack among the Sensex gainers, soaring 6 per cent. Other top performers included NTPC, HDFC Bank, Bajaj Finance, Maruti Suzuki, and Axis Bank. On the down side, Titan, State Bank of India, Asian Paints, Tata Consultancy Services, HCL Tech, Sun Pharma, IndusInd Bank, and ICICI Bank registered declines.
Adani Group stocks
Adani Group stocks witnessed a significant surge after an update from an Adani entity clarified that Gautam Adani and his associates were not charged under the US Foreign Corrupt Practices Act.
Sectoral markets also closed mostly higher, with all indices finishing in the green except for Nifty IT, Pharma, PSU Bank, Realty, and Healthcare.
In the previous session on Tuesday, the BSE Sensex declined 106 points to settle at 80,004, while the NSE Nifty50 closed at 24,195, declining 27 points.
Global update
Asian markets presented a mixed picture, with Shanghai and Hong Kong closing in the green, while Seoul and Tokyo ended lower. European markets were trading mostly in the red, contrasting with US indices, which closed on a positive note in the previous session.
Foreign Institutional Investors (FIIs) continued to show confidence, purchasing equities worth Rs 1,157.70 crore on Tuesday, according to exchange data.
Global oil benchmark Brent crude rose 0.63 per cent, trading at $73.23 per barrel.
Rupee falls 15 paise
The rupee declined sharply by 15 paise to close at 84.44 (provisional) against the US dollar on Wednesday amid uncertainties surrounding US President-elect Donald Trump's trade policies and an increase in crude oil prices. However, a strong show at the domestic equity markets, FII inflows along with a weakening dollar against major currencies supported the local unit at lower level, according to forex traders.
At the interbank currency exchange, the rupee opened at 84.38, lower by 9 paise from its previous close, but declined to an intra-day low of 84.48 during the session. It settled at 84.44 (provisional), 15 paise lower than Tuesday's close of 84.29.
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