Indian equity benchmark indices ended Monday’s volatile session in green. After falling over 1% intraday, Nifty and Sensex recovered losses and broke the 2-day losing streak. The Bank Nifty tanked over 1000 points during the day but managed to close in the positive territory. The top gainers on the BSE were Bajaj Finance (up 4.61%), UltraTech Cement (up 2.51%), Bajaj Finserv (up 2.22%), NTPC (up 1.86%) and HCL Tech(up 1.85%) while Power Grid (down 3.38%), IndusInd Bank (down 2.56%), Larsen & Toubro (down 2.11%), Tata Steel (down 1.62%) and Hindustan Unilever (down 1.55%) were the losers. “The response by Adani had a mixed effect on the stock group and market. The saga is likely to continue as a hanging risk in the minds of the investors in the medium-term. To expect a scientific assessment report either by a strong independent third party or government is dim in the short-term. Now the focus of the market will be on budget and fed policy,” said Vinod Nair, Head of Research at Geojit Financial Services.
Indian stock market
The BSE Sensex rose 169.51 pts or 0.29% closing at 59,500.41 and NSE Nifty 50 advanced 44.60 pts or 0.25% to 17,648.95. In the sectoral indices, Bank Nifty rose 0.10%, Nifty PSU Bank advanced 0.55%, Nifty IT was up 1.10% while Nifty Pharma fell 0.19% and Nifty Metal dropped 0.28%. Adani Group shares dominated the market sentiment with all the stocks ending in the red except the index heavyweight Adani Enterprise which rose 4.21% to Rs 2878.50.
Asian markets ended mixed on Monday. China Shanghai Composite index rose 4.50 pts or 0.14% settling at 3,269.32, Japan’s Nikkei 225 rose 50.84 pts or 0.19% to 27,433.40 while Hong Kong’s Hang Seng fell 619.17 pts or 2.73% to 22,069.73 and South Korea’s KOSPI dropped 33.55 pts or 1.35% to 2,450.47.
England’s FTSE100 was trading at 7,759.59, down 5.56 points or 0.07% at 4:00 PM (IST). Europe’s Euronext100 was down 11.49 points or 0.86% at 1,323.02. France’s CAC was trading 38.51 points or 0.5% lower at 7,059.06. Germany’s DAX was down 83.06 points or 0.55% at 15,067.21.
The US equity market ended Friday’s session in green. The Dow Jones Industrial Average (DJIA) rose 28.67 pts or 0.08% at 33,978.08, S&P 500 climbed 10.13 pts or 0.25% to 4,070.56 and Nasdaq advanced 109.30 pts or 0.95% to 11,621.71.
The Indian rupee rose 0.03% to 81.50 against the US dollar at 4:00 PM (IST).
Gold futures on the multi-commodity exchange for February delivery were trading at Rs 56,840.00 down 117 pts points or 0.03% while Silver futures for March delivery were up 402 points or 0.59% at 68731.00 at 4:30 PM (IST).
WTI Crude futures for February delivery were down 0.15% at $79.56 while Brent Crude futures for March delivery were trading 0.01% higher at $86.68 at 4:35 PM (IST).
Bitcoin (BTC) at 4:35 PM (IST) was trading at $23,264.70, down by 0.52% in the last 24 hours. Its total market cap is $448,481,639,998. Ethereum (ETH) was trading at $1,587.17, down by 1.05% in the last 24 hours. It has a total market cap of $194,234,354,494.