Stock Market Ends Higher: Adani Enterprises Top Gainer in Nifty 50
The Indian equity market closed in the green on Tuesday, driven by favorable domestic and global cues, with Adani Enterprises emerging as the top gainer in the Nifty 50 index.
Mumbai: The Indian equity market closed in the green on Tuesday, driven by favorable domestic and global cues, with Adani Enterprises emerging as the top gainer in the Nifty 50 index.
Market Closing Details
At the close of trading, the Sensex rose by 169.62 points, or 0.22%, to finish at 76,499.63, while the Nifty gained 90.10 points, or 0.39%, ending at 23,176.05.
Adani Group Stocks Lead the Rally
All stocks from the Adani Group closed in the green. Adani Enterprises was the top Nifty 50 gainer with a 7.05% increase. Other Adani Group stocks also saw significant gains:
- Adani Ports rose by 5.25%
- Adani Green Energy surged 13.52%
- Adani Power jumped 20%
- Adani Energy Solutions climbed 12.23%.
Midcap and Smallcap Stocks Lead the Market Rally
The market rally was largely driven by midcap and smallcap stocks. The Nifty Midcap 100 index gained 1,286.10 points, or 2.45%, closing at 53,676.50. Similarly, the Nifty Smallcap 100 index gained 335.70 points, or 1.98%, to end at 17,257.80.
Market Capitalization Surges
The market capitalization of all companies listed on the Bombay Stock Exchange (BSE) surged by Rs 6 lakh crore, reaching around Rs 423 lakh crore.
Market Experts Weigh In
According to market experts, the rebound in global markets and easing domestic CPI inflation provided a boost to broader indices. “This may give some leeway to the RBI in its next policy meeting. However, rising oil prices and higher 10-year yields will be closely watched,” they added.
Sectoral Performance
On the BSE, 2,881 stocks closed in the green, 1,087 stocks in the red, and 105 stocks ended unchanged. Sectoral indices showed a positive trend, with gains in:
- Auto
- PSU Bank
- Financial Services
- Pharma
- Metal
- Realty
- Media
- Energy
- Private Banks
- Infra
The IT and FMCG sectors were the top laggards.
Also Read: Indian Stock Market Opens Higher, HCLTech Shares Tank 9%
Sensex Top Gainers and Losers
In the Sensex, Adani Ports, NTPC, Zomato, Tata Motors, Bajaj Finance, SBI, Bajaj Finserv, IndusInd Bank, Maruti Suzuki, Sun Pharma, M&M, and Power Grid were the top gainers. On the other hand, HCL Tech, HUL, Titan, TCS, Infosys, and UltraTech Cement were the top losers.
IT Sector Dragged Down by Weak Earnings Guidance
The IT sector was weighed down by concerns over weak earnings guidance for Q4. Domestic sentiment will likely focus on the ongoing earnings season and the upcoming Union Budget, with experts offering a mixed view on both.
