In a significant boost to investor sentiment, the Sensex reached the historic 80,000 mark today. This marks a strong recovery compared to last week, driven by optimism in select sectors.
The Nifty 50 closed at 24,194, showing a slight gain despite mixed movements. Positive responds saw Shriram Finance shooting up over 3% and Britannia rising over 2%. However, losses in Adani Enterprises fell over 4%, and UltraTech Cement fell over 3%. Other contributors to the drop include Reliance, HDFC Life, and Tata Consumer Products. Despite the pressure faced in the index, it was able to end slightly higher.
Nifty Bank ended at 52,191 with low activity. PNB was the top gainer, up 0.95%. Kotak Bank slipped by 0.46%. The sector did not experience any notable action as the index closed in the red.
Nifty Next 50 ended with a loss at 69,522, pulled down by the decline of over 7% in Adani Green and more than 3% falls in Adani Solar and ATGL. Other losing stocks were JSW Energy, GAIL, and Ambuja Cement with losses above 2%.
BSE 200 also ended like this at 11,083. Adani Green slipped more than 7%. Adani Enterprises and Torrent Power, both were down more than 4%.
In contrast to yesterday, the market had mixed trends today. Against the historic highs achieved by Sensex, sharp declines in Adani Group stocks, including Adani Green, Adani Enterprises, and Adani Solar, overshadowed the gains for the day. According to sources, this is reportedly related to a bribery case still being pursued; however, nothing has been confirmed officially.
Despite all this, this milestone by the Sensex signals resilience in the Indian markets and hopes are worth it to recover further for the weeks ahead.
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Tomorrow 27th Nov is celebrated as Champa Shashti fest!
As stated in Bhagavad Gita : (Bhagavad Gita 17.3)
श्रद्धावान्लभते ज्ञानं।
According to one’s faith, he receives the mercy of the Supreme.
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