Business

Sensex Closes At Record High; Adani Green Soars 7.59%

Indian equity indices closed at record highs on Tuesday, driven by gains in major stocks such as ICICI Bank and L&T. At the close, the Sensex was up 97 points, or 0.12%, at 82,988. The Nifty gained 27 points, or 0.11%, ending at 25,383. The Nifty Bank index closed up by 215 points, or 0.41%, at 52,153. During the session, both the Sensex and Nifty reached new all-time highs of 83,184 and 24,445, respectively.

Sectoral and Stock Movements

Adani Green surged by 7.59%, and Adani Power climbed 5.45%. Adani Enterprises and Adani Wilmar also saw gains of nearly half a percent each. Midcap and smallcap stocks saw buying interest, with the Nifty Midcap 100 index rising 225 points, or 0.38%, to 60,259. The Nifty Smallcap 100 index was up 31 points, or 0.16%, at 19,537.

Sectoral indices saw gains in metal, realty, energy, commodity, and infrastructure sectors, while IT, PSU Bank, FMCG, and Pharma sectors lagged behind.

Rupak De, Senior Technical Analyst at LKP Securities, noted that the Nifty index remained range-bound throughout the session. He indicated that traders were cautious ahead of a significant event. De pointed out that the technical chart showed no change in formation compared to the previous day. “The trend continues to be strong, though with limited upward potential in the short term,” he added.

He identified key support levels between 25,150 and 25,200, with resistance around 25,460-25,500. A decisive breakout from this range could trigger a directional move.

Gold Prices and Market Sentiment

Gold prices remained positive, with MCX gold gaining Rs 100 to reach Rs 73,600, and Comex gold up $10 at $2,585.

Another market expert commented on the domestic market’s narrow range with a positive bias, as participants awaited the Federal Reserve’s decision later this week. The expert noted that weakness in the US job market and benign inflation suggest potential rate cuts. The inflow of foreign funds and expectations of stable domestic growth could keep sentiment optimistic.

Also Read: Adani Group Refutes Fake Press Releases; Warns Of Legal Action

Ajaypal Choudhary

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