Mumbai: The Indian stock market ended in green on Wednesday as buying was seen in the energy, commodities, and the PSE sectors.
The stock of all Adani Portfolio companies gained on the indices.
Adani Power shares closed at Rs 525.15 after jumping up Rs 87.50 or 20 per cent, Adani Enterprises Ltd’s stock was up 11.56 per cent at Rs 2,399 apiece, and Adani Green shares were at Rs 988.40, after gaining Rs 89.85 or 10 per cent.
Sensex closed at 80,234 after gaining 230.02 points, or 0.29 per cent, and Nifty closed at 24,274.90 after rising 80.40 points, or 0.33 per cent.
Nifty Bank was up 110.30 points, or 0.21 per cent, to 52,301.80. Nifty midcap 100 index closed at 56,272.35 after a gain of 357.95 points or 0.64 per cent. Nifty smallcap 100 index closed at 18,502.85 after rising 237.55 points or 1.30 per cent.
According to market experts, Indian indices continue to exhibit a positive upside as a result of healthy consolidation and the likelihood of strong H2FY25 earnings forecasts. In Asia, market sentiment was mixed due to the potential tariff impositions by the US.
On the sectoral indices, energy, commodities, PSE, media, pvt bank, auto, financial services and FMCG were major gainers. However, IT, PSU bank, pharma and realty were major losers.
In the Sensex pack, Adani Ports, NTPC, HDFC, Bajaj Finance, Maruti, JSW Steel, M&M, Axis Bank, Tech Mahindra, and Bajaj Finance were the top gainers. Titan, SBI, Asian Paints, TCS, HCL Tech, Sun Pharma, IndusInd Bank, and ICICI Bank were the top losers.
Rupak De of LKP Securities said: “The Nifty has been consolidating over the past three days following a sharp up move earlier. On the higher side, it faces resistance at 24,420; a decisive breakout above this level could trigger a significant move toward higher levels. On the lower side, support is positioned at 24,100.”
On the Bombay Stock Exchange (BSE), 2,586 shares were traded in green and 1,344 in red, whereas, there was no change in 110 shares.
(IANS)
