Sunday 24 / November / 2024
Mumbai: The domestic markets continued with gains, tracking strong global cues. The US Federal Reserve's decision to slow down its rate hike by raising the federal funds rate target range by 25 basis points lifted investors' sentiments in most global markets.
In another development, the shares of Adani Group firms continued to drop on Friday with the wealth of the industrialists being dented every day from last week. Only shares of Adani Ports rose during the session on Friday. BSE Sensex went up 909 points and settled at 60,841.88 while Nifty50 gained 243.65 points to end the session at 17,854.05.
Japan's Nikkei was up 107, Hong Kong's Hang Seng lost 297 points and China's Shanghai lost 22 points.
In US markets, Nasdaq gained 384 points, S&P added 60 points while NYSE Composite was trading in the green. In Europe, most of the key indices were trading and ended in the negative territory as Asian key indices opened with mixed responses.
When the market closed on Friday, shares of Adani Group's flagship firm, Adani Enterprises, were down 2.19 per cent to Rs 1,531 apiece on BSE. According to data available, in just five sessions, it has lost more than Rs 1,506.55 or declined over 49 per cent.
Adani Ports and SEZ gained Rs 25 or surged 5.61 per cent and settled at Rs 488.40 on Friday. The firm's shares had lost more than Rs 166 or 25 per cent in a period of five days.
Adani Green's shares dropped 10 per cent to Rs 935.90 apiece on Friday, while it lost Rs 392.30 or declined 29.54 per cent in just five days.
Adani Transmission shares dropped 10 per cent flat to Rs 1,396 apiece in the Friday session. The firm had lost Rs 371.25 or dropped 21 per cent in just 5 days.
FMCG firm Adani Wilmar dropped 5 per cent to Rs 399 apiece on Friday morning while it lost Rs 91 or dropped more than 18.54 per cent in a span of five days.
On Friday, industrialist Gautam Adani also slipped out of the top 20 richest people on the World's Real-time Billionaires list of Forbes and was placed in 22nd position on Friday. Gautam Adani's wealth had declined 21.77 per cent or USD 16.2 billion.
On the Nifty50 index, Titan Company surged 5 per cent after strong third quarter (Q3) performance and positive management commentary. IndusInd Bank jumped 4 per cent as promoters gets nod to increase their shareholding in the private lender. SBI jumped 3 per cent ahead of Q3 earnings later in the day. Bajaj Finserv and SBI Life were up 3 per cent each.
The Nifty PSU Bank index advanced 3.07 per cent to 3,888.60. The index slipped 5.84 per cent in the past two trading sessions.
Shares of Bank of Baroda jumped 6.36 per cent after the bank's net profit jumped 75.4 per cent to Rs 3,852.74 crore on 32.27 per cent rise in total income to Rs 27,092.09 crore in Q3 FY23 over Q3 FY22.
