Energy equities drive the Sensex and Nifty's advance, while Adani Group shares soar

The share market closed on a positive note today, with benchmark stock indices rebounding and energy stocks leading the gains.

The Sensex gained 0.46 percent to reach 73,097.28, while the Nifty50 rose by 0.68 percent to 22,146.65. This recovery followed losses of 1.2 per cent and 1.5 per cent in the previous session for the Sensex and Nifty50, respectively.

Small and mid-cap stocks also showed positive movement, with small caps rising by 3.45 per cent and mid-caps climbing by 2 percent, recovering from losses incurred the previous day.

Despite today's gains, both small and mid-cap stocks have seen declines from their record highs on February 8, with losses amounting to 11.4 percent and 5.8 percent, respectively, compared to the 2 percent rise in Nifty.

Investors are eagerly awaiting the stress test results of small- and mid-cap mutual funds, scheduled to be disclosed by mutual fund managers on Friday. These results will provide insights into the resilience of these funds to sudden redemption pressures.

Earlier in the day, rating agency Fitch revised its estimate for India's economic growth for fiscal years 2024 and 2025, citing strong domestic demand as a contributing factor.

The energy and IT sectors experienced gains of about 2 percent each, recovering from the previous session's decline.

Adani group stocks, which faced a downturn on Wednesday, emerged as the top gainers in the Nifty50 index. Adani Enterprises witnessed a rise of 6.2 percent, while Adani Ports jumped by 4.8 percent.

Larsen & Toubro also saw positive movement, with a 2 percent increase attributed to winning orders in the Middle East.

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