Nifty opens above 17100, Sensex surges 350 pts on Fri, Mar 17; Adani Group stocks rise, TCS shares fall

Nifty and Sensex turned green on Friday amid positive sentiment in the global markets. The NSE Nifty 50 rose 115 pts or 0.67% to 17,100.65, BSE Sensex climbed 359.83 pts or 0.62% to 57,994.67 and Bank Nifty rises 184.10 pts or 0.47% to 39,316.70. The top gainers on Nifty 50 were Adani Enterprises, HDFC Life, Infosys, Tata Motors and UltraTech Cement and the top losers were HeroMotocorp, BPCL, Eicher Motors, Bharti Airtel and TCS. 

Adani Group stocks, TCS shares in focus today

Adani Group stocks surged on Friday after the removal of Adani Enterprises, Adani Power, and Adani Wilmar from the National Stock Exchange’s short-term additional surveillance measures (ASM) framework from today. Adani Enterprises shares rose Rs 41.50 or 2.25% to Rs 1884.10, Adani Power shares climbed Rs 4.00 or 2.01% to Rs 202.75, Adani Wilmar shares surged Rs 9.95 or 2.36% to Rs 430.90, Adani Ports shares were up Rs 1.70 or 0.25% to 680.85, Adani Transmission shares were up Rs 26.80 or 2.75% to Rs 1002.85, Adani Green Energy shares skyrocketed Rs 35.85 or 4.61% to 813.80, Adani Total Gas shares were up Rs 13.55 or 1.53% at 902.00, Ambuja Cements shares were up Rs 1.15 or 0.30% at 379.75, NDTV shares were up Rs 3.05 or 1.46% at 212.15 while ACC shares were trading flat at Rs 1752.

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TCS shares fell marginally by 0.37% to Rs 3173 on Friday. TCS Managing Director and CEO Rajesh Gopinathan has resigned from his post “to pursue other interests”, and will step down on 15 September 2023, the company said on Thursday. K Krithivasan has been appointed as the Chief Executive Officer Designate of Tata Consultancy Services. He will take over as the Managing Director and CEO in the next financial year, the company said in a stock exchange filing.

Sectoral Indices

The sectoral indices were trading mostly in green. Bank Nifty climbed 0.36%, PSU Bank rose 0.39%, Nifty IT surged 1.29%, Nifty Metal was up 0.90% and Nifty Auto was up 0.22%.

Asian and US stock markets

Asian markets were trading in green with China’s Shanghai Composite index rising 0.75%, Japan’s Nikkei 225 climbing 0.69%, Hong Kong’s Hang Seng surging 0.79% and South Korea’s KOSPI advancing 0.54%.

The US market ended the overnight session in the positive territory with Dow Jones Industrial Average surging 1.17%, S&P 500 climbing 1.76% and the tech-heavy Nasdaq skyrocketing 2.48%.

FII and DII data

Foreign institutional investors (FII) sold shares worth a net Rs 282.06 crore, while domestic institutional investors (DII) acquired equities worth a net Rs 2051.45 crore on 16 March, according to the provisional data available on the NSE.

NSE F&O Ban

The National Stock Exchange has put GNFC and Indiabulls Housing Finance on its F&O ban list for 17 March. According to the NSE, stocks are prohibited in the F&O sector when they have exceeded 95% of the market-wide position limit (MWPL). During the F&O ban period, no new positions are permitted for F&O contracts in that stock.