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Sensex Gains 900 Points, Adani Group Companies Gain

By LokMarg 3rd March 2023

Indian equity markets on Friday made gains, tracking global cues. Almost every index on BSE ended in the positive territory, with BSE FMCG, BSE IT, BSE Telecom and BSE Financial Services gaining and pulling up the markets.

Adani Group firms such as Adani Enterprises, Adani Green, Adani Transmission, Adani Wilmar, Adani Ports and Adani Power made gains during Friday’s session. After opening at 17,451.25, the Nifty extended gains during the day and settled near the 17,600 level.

Key indices BSE Sensex went up 899 points or 1.53 per cent and settled at 59,808.97 while Nifty gained 272 points and ended at 17,594.35. SBI, Bharti Airtel and SBI Life Insurance were among the top Nifty gainers. Tech Mahindra, UltraTech Cement, Cipla, Divis Labs and Asian Paints were the laggards.

According to stock exchanges, Reliance Industries went up 2.46 per cent, HDFC Bank gained 1.95 per cent and ICICI Bank surged 1.74 per cent. These stocks also pushed the indices higher.

In Asian markets, Hang Seng, Nikkei, Shanghai were trading in the positive territory on Friday.

In US markets, Dow Jones, S&P, Nasdaq, NYSE and S&P 500 were all trading in the green, when Asian markets opened.

In European markets, BEL-20, CAC 40, Deutsche Borse and FTSE 100 gained on Friday.

Adani Enterprises went up 16.60 per cent to Rs 1,874 apiece, Adani Green surged till the upper limit to end at Rs 561.75, Adani Transmission went up till the upper limit to Rs 744.15 apiece, Adani Wilmar surged 5 per cent to Rs 418.55 apiece, Adani Power also went up 4.99 per cent to Rs 169.30 apiece and Adani Ports gained 9.76 per cent to Rs 683.70 apiece.

S&P Global India Services PMI Business Activity Index came in at 59.4 in February as against 57.2 in January, attaining its highest level in 12 years and indicating a sharp expansion in output. Where growth was reported, survey participants mentioned favourable demand conditions and new business gains. (ANI)