Share Market: Share market stabilized due to Adani and energy sector, Sensex rose 204 points
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Stock Market Closing Bell: Domestic benchmark indices Sensex and Nifty closed higher on Tuesday, recovering from the decline of the last two sessions, due to the last round of buying in automobile, power and metal stocks amid the activity of foreign investors. In volatile trading, BSE’s 30-share index Sensex closed at 66,174.20 points, rising by 204.16 points or 0.31 percent. At one time during trading it remained at the upper level of 66,256.20 and lower level of 65,906.65. National Stock Exchange (NSE)’s benchmark index Nifty closed at 19,889.70 points, up 95 points or 0.48 percent. Among the Sensex companies, Tata Motors, Bajaj Finserv, UltraTech Cement, Bharti Airtel, Bajaj Finance, NTPC, Titan and Axis Bank closed with gains. On the other hand, there was a declining trend in the shares of ITC, Hindustan Unilever, ICICI Bank and Power Grid. Vinod Nair, head of research at Geojit Financial Services, said that foreign institutional investors (FIIs)FII)’s gradual return to the market is a strong positive. Before the meeting of petroleum exporting countries, crude oil has also remained stable, which will benefit the oil companies. Shares of metals and public sector banks are also performing well.
Adani Group earned Rs 11.31 lakh crore in one day
Today there was a significant rise in the shares of Adani Group companies. The positive comments of the Supreme Court in the Hindenburg case created a trend towards the group companies. The combined market valuation of all 10 group companies increased to Rs 11.31 lakh crore. There was a rise of 20 percent in Adani Total Gas, 19.06 percent in Adani Energy Solutions, 12.32 percent in Adani Power, 12.27 percent in Adani Green Energy, 11.73 percent in NDTV, 9.96 percent in Adani Wilmar and 8.66 percent in Adani Enterprises. The BSE Midcap index, representing more shares, gained 0.30 percent and the Smallcap index rose 0.06 percent. In other markets of Asia, South Korea’s Kospi and China’s Shanghai Composite closed higher, while Japan’s Nikkei and Hong Kong’s Hang Seng index closed with a decline. Major markets of Europe were trading with losses. On Monday, American markets closed with a slight decline. Meanwhile, international oil standard Brent crude rose 1.19 percent to $ 80.93 per barrel. The stock markets were closed on Monday on the occasion of Guru Nanak Jayanti. According to stock market data, foreign institutional investors (FIIs) had bought equity worth Rs 2,625.21 crore on Friday. On the last trading day on Friday, Sensex closed at 65,970.04 with a fall of 47.77 points while Nifty slipped by 7.30 points at 19,794.70.
Rupee recovered from record low, six paise stronger against dollar
On Tuesday, the rupee strengthened by six paise and closed at 83.34 (provisional) against the US dollar amid positive sentiment in the stock markets and inflow of foreign capital investment. In this way the rupee was successful in recovering from its lowest position against the American currency. The rupee had closed at a record low of 83.40 on the last trading day on Friday. Forex traders said the rupee got support due to the weakness of the dollar against major currencies and crude oil prices remaining near the level of $ 80 per barrel. In the interbank foreign exchange market, the rupee opened at 83.37 and during trading reached a high of 83.32 and a low of 83.39. However, at the end of trading it closed at the price (provisional) of 83.34 against the dollar, which shows a strength of six paise. HDFC Securities Research Analyst Dilip Parmar said the Indian rupee started the trading week on a positive note as the dollar weakened against major currencies following weak US economic data. However, demand for the dollar towards the end of the month helped the rupee. The growth was affected. Brent crude futures, the international oil standard, rose 1.18 percent to $ 80.92 per barrel.
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