Share Market Today: Excitement in the stock market! Sensex, Nifty rally: Adani bank rises

by time news

Indian stock markets ended the trade today on a positive note after last two days of decline. Sensex, Nifty ended higher.

A 25 basis point hike in interest rates at the RBI’s monetary policy meeting, along with a positive outlook on the country’s economic growth, gave investors confidence.

Boom in the stock market! Sensex, Nifty Jour: Expectation on RBI

The US stock market also closed higher yesterday. The country’s Federal Reserve chairman’s comments on inflation also gave investors confidence, leading to a bullish trade since the opening of morning trade.

Accordingly, 7 out of 10 stocks in the Adani Group closed higher. Adani Enterprises shares rose 19 percent. Stock price gains due to 3rd quarter results on 9th.

Apart from this Adaniport 7%, Adani Transmission 5%, Adani Power%, Adani Wilmar 5% ended higher. Adani Green 4%, Adani Total Gas 5%, ACC 1.6%, Ambuja Cement 0.1% lower.
The Adani Group is recovering after losing Rs 9 lakh crore in the last 10 days, according to a report by the US-based Hindenburg Research Institute. The Adani Group’s announcement that it will prepay its debt maturing in 2024 has given investors confidence.

Stocks fall for 2nd day: Sensex, Nifty fall: Adani Enterprises profit

As a result, there was a boom in the stock market from morning to evening. By the end of the evening trade, the BSE was up 377 points to trade at 60,663 points. The Nifty rose 150 points to settle at 17,871 points on the National Stock Exchange.

Out of 30 major companies on the BSE, only 6 stocks fell. HDFC Bank, HUL, Kotak Bank, Axis Bank, Bharti Airtel, Larsen & Toubro fell.

Among the Nifty sectors, metals rose the highest by 3 percent, followed by pharmaceuticals, IT, construction, energy, automobile, banking, public sector banking and FMCG.

Last Updated Feb 8, 2023, 4:01 PM IST

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