Stock Market Today: On Monday, domestic indices may decline amid unfavourable external indicators. In the early morning trade, the Nifty futures on the Singapore Exchange (SGX) were trading 103 points, or 0.60%, lower at 17,058.50. The Nikkei 225 in Japan fell 0.66%, the Hang Seng in Hong Kong plunged 1.65%, the KOSPI in South Korea down 0.09%, and the Shanghai Composite index increased 0.33% during today’s generally negative trading on Asian markets.
Adani Group stops work on Rs 34,900 crore petrochemicals project in Gujarat’s Mudra
After a critical analysis by US short-seller Hindenburg Research, the Adani Group has stopped development on a Rs 34,900 crore petrochemicals project at Mundra in order to concentrate on resources to consolidate operations and allay investor worries.
Adani Enterprises established Mundra Petrochem as a wholly owned subsidiary in 2021 with the intention of building a new coal-to-PVC facility on Adani Ports and Special Economic Zone land in the Kutch region.
Bitcoin rises 9.2% to USD 27,359
At 2207 GMT on Friday, Bitcoin rose 9.2 percent to $27,359, gaining $2,309 from its previous closing. The biggest and most well-known cryptocurrency in the world, Bitcoin, has increased by 65.9% from its January 1 low of $16,496. The price of Ether, the cryptocurrency connected to the Ethereum blockchain, increased by $91.6 on Friday to reach $1,768.5.
Stock Market Today: US Market falls
Major indices fell more than 1% as the US market concluded Friday’s session substantially in the red. The tech-heavy Nasdaq fell 0.74%, the S&P 500 fell 1.10%, and the Dow Jones Industrial Average fell 1.19%. The BSE Sensex increased 355.06 points or 0.62% to 57,989.90 on Friday, while the NSE Nifty 50 increased 114.45 points or 0.67% to 17,100.05. In terms of sectoral indexes, Bank Nifty increased by 465.50 points, or 1.19%, to reach 39,598.10; Nifty IT increased by 1.18%; Nifty Auto decreased by 0.48%; Nifty PSU Bank increased by 0.83%; and Nifty Metal soared by 2.23%.
Disclaimer: (This information is provided solely for informational purposes. It is important to note that investing in the market or a business idea involves market risks. Before investing money as an investor/ owner/ partner, always consult an expert. DNP News Network Private Limited never advises to invest money on stocks or any specific business idea. We will not be liable for any financial losses.)
Keep watching our YouTube Channel ‘DNP INDIA’. Also, please subscribe and follow us on FACEBOOK, INSTAGRAM, and TWITTER.