On account of positive global cues and strong recovery in Adani Group stocks , the Benchmark stock market indices jumped nearly 1 percent as the S&P BSE Sensex jumped 548.62 points to 60,357.59, while the NSE Nifty 50 climbed 157.50 points to 17,751.85. Trends are reflecting the strong reversal in market sentiments and the broader markets and all sectoral indices were trading in positive territory.
Benchmark Stock Indices jump nearly 1 percent
Positive territory trading by sectoral indices
- Nifty Metal was the top sectoral gainer, rising 1.52 per cent, boosted by a 10% jump in Adani Enterprises
- Nifty IT rose 10 1.49 per cent as 9 out of 10 constituents gained over 1 per cent due to strong US data
- Nifty Oil and Gas gained above 1 percent
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Adani Stocks dominate
Adani stocks dominated NIFTY 50 index in early trade , with Adani Enterprises leading from the front and was followed by Adani Ports which gained nearly 5 percent. At the same time all other Adani group stocks rallied after investment firm GQG Partners bought shares of 4 group companies worth over Rs 15,000 crores.
At a time when there is high volatility on Dalal Street due to global economic situation, GCQ’s investment in Adani stocks have helped it in regaining their footings in the stock market.
Gainers on 50 share index
Other gainers on the 50 share index , which gained over 1 percent in early trade which have given the indication that Bulls are back in the Dalal Steet
- HCL Tech
- Infosys
- PowerGrid
- Bajaj Finserv
- HDFC
- TCS.15
Stocks Trading on Negative Territory
Top stocks which were trading in the negative territory
- Britannia
- Cipla
- JSW Steel
- Tata Steel
In the wake of the rally in Adani Group stocks which started last week, the sentiments of the markets have improved significantly.
The rally has also helped in enticing the interest of foreign Institutional Investors who bought shares worth Rs 246 crore on a net basis on Friday
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