The Indian stock market closed in the green on Wednesday, driven by strong buying in energy, commodities, and public sector enterprise (PSE) stocks. Adani Group companies led the rally, boosting overall market sentiment.
Adani Group Stocks Drive Market Gains
Adani Power soared by 20%, closing at ₹525.15 after a ₹87.50 gain. Adani Enterprises rose by 11.56% to ₹2,399 per share, while Adani Green jumped by ₹89.85 or 10%, closing at ₹988.40. All Adani Group stocks ended positively, contributing significantly to the market’s upward momentum.
The Sensex gained 230.02 points, or 0.29%, to close at 80,234. Meanwhile, the Nifty added 80.40 points, or 0.33%, to settle at 24,274.90. Sectoral indices showed mixed results, with energy, commodities, PSE, and financial services performing strongly.
Mixed Sentiments Across Sectors
The Nifty Bank rose by 0.21% to 52,301.80, while the Nifty Midcap 100 and Smallcap 100 indices closed higher by 0.64% and 1.30%, respectively. However, IT, PSU banks, and realty sectors faced declines. Among Sensex gainers were Adani Ports, NTPC, and Bajaj Finance, while Titan, SBI, and TCS were the top losers.
Market expert Rupak De of LKP Securities highlighted Nifty’s consolidation phase. He noted that resistance is at 24,420, with a breakout above this level likely to trigger further gains. Support remains at 24,100.
On the Bombay Stock Exchange, 2,586 stocks advanced, 1,344 declined, and 110 remained unchanged, reflecting a predominantly positive trading day.
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