Stock market ends higher, Adani Enterprises top gainer in Nifty 50

Mumbai: The Indian equity market closed in the green on Tuesday amid favourable domestic and global cues, as Adani Enterprises was the top Nifty 50 gainer.

At closing, Sensex was up 169.62 points or 0.22 per cent at 76,499.63 and Nifty was up 90.10 points or 0.39 per cent at 23,176.05.

All stocks of the Adani Group closed in the green. Adani Enterprises was the top Nifty 50 gainer with a gain of 7.05 per cent. Adani Ports closed with a gain of 5.25 per cent, Adani Green Energy 13.52 per cent, Adani Power 20 per cent and Adani Energy Solutions, 12.23 per cent.

The market rally was led by midcap and smallcap stocks. The Nifty Midcap 100 index rose 1,286.10 points, or 2.45 per cent, to close at 53,676.50, and the Nifty smallcap 100 index gained 335.70 points, or 1.98 per cent, to close at 17,257.80.

The market cap of all the companies listed on the Bombay Stock Exchange (BSE) surged by Rs 6 lakh crore to around Rs 423 lakh crore.

According to market experts, a rebound in the global market and an ease in domestic CPI inflation provided respite to the broader indices.

“This may provide some leeway for RBI in its next policy meet; however, rising oil prices and higher 10-year yields will be watched carefully,” they added.

On BSE, 2,881 stocks closed in the green mark, 1,087 stocks in the red mark and 105 stocks closed without any change.

On the sectoral indices, Auto, PSU Bank, fin service, pharma, metal, realty, media, energy, private bank and infra were the top gainers. IT and FMCG were top laggard.

In the Sensex, Adani Ports, NTPC, Zomato, Tata Motors, Bajaj Finance, SBI, Bajaj Finserv, IndusInd Bank, Maruti Suzuki, Sun Pharma, M&M and Power Grid were the top gainers. HCL Tech, HUL, Titan, TCS, Infosys and UltraTech Cement were the top losers.

The IT sector weighed down amid concerns over weak earnings guidance for Q4. The domestic sentiment will be more inclined towards the ongoing earnings season and upcoming union budget, which has a mixed view,” the experts added.

–IANS