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Indian Stock Market Ends Higher, Adani Ports Among Top Gainers
The stock markets in India closed on an upbeat note Thursday as benchmark indices gained pace because of better investor sentiment. The Sensex settled at 77,042.82, up by 318.74 points or 0.42%, and the Nifty concluded at 23,311.80, gaining 98.60 points or 0.42%.
Adani Ports was one of the top gainers, closing at Rs 1,151 per share with a gain of Rs 22.85 or 2.03%. Nifty Bank gained 1.08% to close at 49,278.70. The Nifty Midcap 100 and Nifty Smallcap 100 indices gained 1.09% and 1.67%, respectively.
Market experts cited the rally to optimistic investor sentiment following softer U.S. inflation data, which fueled hopes for a potential Federal Reserve rate cut. Positive developments in the Israel-Hamas ceasefire and a narrowing trade deficit further bolstered market performance. However, weak UK economic growth data tempered some of the enthusiasm.
Market breadth was seen as positive at the Bombay Stock Exchange (BSE), where 2,779 stocks ended in the green, 1,187 were in the red, and 101 remained unchanged.
Amongst the Sensex constituents, top gainers were Adani Ports, SBI, IndusInd Bank, Axis Bank, and Tata Motors. On the flip side, HCL Tech, Infosys, Hindustan Unilever Limited, and ITC witnessed losses.
FIIs sold equities worth Rs 4,533.49 crore, while DIIs bought shares worth Rs 3,682.54 crore, showing mixed investor activity.
The broader markets saw bargain buying during recent corrections, which indicates that interest is sustained despite higher valuations compared to global peers.
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