Stock Market Updates: Sensex Gains Over 450 Points, Nifty Above 24,300; Banking, Auto Stocks Rise – News18
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Sensex Today: The BSE Sensex and NSE Nifty opened Wednesday’s trading session with caution, reflecting a subdued trend in Asian markets.
Sensex Today: The BSE Sensex and the NSE Nifty were largely flat, with the Sensex hovering around the 80,000 mark and the Nifty50 index near 24,200 levels. In broader market activity, both the Nifty Midcap 100 and Smallcap 100 indices were showing positive movement.
Sectoral performance was mixed, with auto, financial services, information technology (IT), and metal indices in the green, while most other sectors were trading in the negative territory.
Among the Nifty 50 stocks, Coal India emerged as the top gainer, climbing nearly 2%. Mahindra & Mahindra, Wipro, Tech Mahindra, and Kotak Bank also saw gains of over 1% each. On the downside, Cipla, Bharti Airtel, IndusInd Bank, and Tata Consumer each declined by about 1%.
Shares of the Adani Group rebounded, rallying up to 4%, after Adani Green issued a clarification denying media reports that Adani executives were charged with bribery and corruption, stating that the charges were related to wire and securities fraud.
This comes after Fitch and Moody’s downgraded the outlook for several Adani group companies from ‘Stable’ to ‘Negative’, citing rising legal and governance risks.
In other news, NTPC Green made its debut on the stock exchanges today. The stock opened at Rs 111.60, reflecting a premium of 3.24% over its issue price of Rs 108. However, the stock quickly surged, hitting the upper circuit limit of Rs 122.75, marking a 13.65% gain within just 30 minutes of listing on the BSE.
Global Cues:
Asian markets showed a mixed performance on Wednesday, despite US stocks closing at record highs. Market sentiment was impacted by concerns over President Trump’s threat of higher tariffs on China and neighboring countries.
The Nikkei, Shanghai Composite, and Kospi fell by up to 0.7 per cent, while the Hang Seng, Taiwan, and Straits Times saw slight gains.
In the US, the Dow Jones surged over 650 points from its day’s low to close at a record high, up 124 points, ahead of the US Federal Open Market Committee (FOMC) minutes and third-quarter GDP data. The S&P 500 and NASDAQ also rose by 0.5% each.
Crude oil prices eased slightly following reports of a ceasefire between Israel and Hezbollah. Crude futures dropped below $68 per barrel, while Brent Crude slipped to $72 per barrel. Gold remained steady around $2,650.
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