Indian Stock Market Rises, Adani Enterprises Leads Nifty 50 Gains
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Synopsis
On January 14, the Indian equity market saw a rise, led by Adani Enterprises as the top gainer in Nifty 50. The market was buoyed by positive domestic and global trends, with significant increases in midcap and smallcap stocks.
Key Takeaways
- Adani Enterprises topped the Nifty 50 gainers list with a 7.05 percent increase.
- The Sensex and Nifty indices both closed higher.
- All Adani Group stocks ended in the green.
- Market capitalization surged by Rs 6 lakh crore.
- Midcap and smallcap stocks led the market rally.
Mumbai, Jan 14 (NationPress) The Indian equity market concluded on a positive note on Tuesday, buoyed by favorable domestic and global indicators, with Adani Enterprises emerging as the leading gainer in the Nifty 50.
At the end of trading, the Sensex increased by 169.62 points, translating to a 0.22 percent rise, reaching 76,499.63. Meanwhile, the Nifty rose by 90.10 points or 0.39 percent, closing at 23,176.05.
All stocks within the Adani Group finished on a high note, with Adani Enterprises registering a growth of 7.05 percent. Other notable gains included Adani Ports at 5.25 percent, Adani Green Energy at 13.52 percent, Adani Power at 20 percent, and Adani Energy Solutions at 12.23 percent.
The market surge was predominantly driven by midcap and smallcap stocks. The Nifty Midcap 100 index ascended by 1,286.10 points or 2.45 percent, closing at 53,676.50, while the Nifty smallcap 100 index gained 335.70 points or 1.98 percent, finishing at 17,257.80.
The overall market capitalization of companies listed on the Bombay Stock Exchange (BSE) surged by Rs 6 lakh crore, totaling approximately Rs 423 lakh crore.
Market analysts suggest that a recovery in global markets, along with a decline in domestic CPI inflation, has provided a much-needed boost to broader indices.
"This situation may allow the RBI some flexibility during its next policy meeting; however, the rising oil prices and increasing 10-year yields will require close monitoring," they noted.
On the BSE, 2,881 stocks finished in the green, while 1,087 stocks closed in the red, and 105 stocks remained unchanged.
Sector-wise, Auto, PSU Bank, financial services, pharma, metal, real estate, media, energy, private banking, and infrastructure sectors were the top performers. Conversely, IT and FMCG sectors lagged behind.
In the Sensex, the leading gainers included Adani Ports, NTPC, Zomato, Tata Motors, Bajaj Finance, SBI, Bajaj Finserv, IndusInd Bank, Maruti Suzuki, Sun Pharma, M&M, and Power Grid. In contrast, HCL Tech, HUL, Titan, TCS, Infosys, and UltraTech Cement were among the top losers.
The IT sector faced pressure due to concerns regarding weak earnings forecasts for the upcoming Q4. Domestic sentiment is expected to focus more on the current earnings season and the forthcoming union budget, which has a mixed outlook," experts added.
