Adani Group Stocks: On Wednesday, Indian stock markets witnessed a strong performance, with Sensex and Nifty closing at a three-week high. Buying interest in Bank Nifty, midcap, and small-cap stocks dominated the day, even as the rupee weakened and sectoral indices showed mixed trends.
Market Highlights: Key Index Performance
| Index | Closing Level | Change |
|---|---|---|
| Sensex | 80,378 | +902 points |
| Nifty 50 | 24,484 | +271 points |
| Nifty Bank | 52,317 | +110 points |
| Nifty Midcap | 57,356 | +1,240 points |
Sectors that Outperformed
- Energy, PSE, and Metal: Witnessed strong buying momentum and closed higher.
- Oil & Gas, Auto, FMCG: Attracted investors’ interest and ended in the green.
- Defense Stocks: Stocks like HAL and BEL surged 5% over two days.
Sectors Under Pressure
- Pharma, Realty, and IT: These sectors saw some selling pressure.
Key Stock Movements
- Adani Group Stocks: Following their denial of FCPA violation allegations, all Adani stocks saw a robust rally, closing 4% to 20% higher.
- HDFC Bank: Reached a record high and was among the top-performing stocks of the week.
- Ola Electric: Locked in an upper circuit following the launch of new scooters and a positive brokerage note.
- Vodafone Idea: Rose 11% after a positive brokerage review.
- Siemens: Gained 3% post its Q2 results announcement.
- Battery Makers: Exide and Amara Raja advanced 3-5%, driven by strong demand.
- NALCO: Fell 1% following a downgrade by Kotak Institutional Equities.
Currency Update
The rupee weakened by 18 paise, closing at ₹84.28 against the US dollar, reflecting global market pressures.
Takeaway for Investors
With Adani stocks rebounding and defense, energy, and banking sectors showing resilience, market sentiment remains positive. However, selective pressure in IT and pharma suggests cautious optimism for short-term trades.
