Share Market News Today | Sensex, Nifty, Share Prices Highlights: Indian equity indices ended Thursday’s volatile session in green. The BSE Sensex rose 142.43 points or 0.23% to 60,806.22 and NSE Nifty 50 climbed 21.75 pts or 0.12% to 17,893.45. The top gainers on Sensex were Bajaj Finserv, Asian Paints, IndusInd Bank, Infosys and Bajaj Finance while the losers were Bharti Airtel, UltraTech Cement, Tata Motors, Sun Pharma and Axis Bank.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Live Updates Thursday 9 February
The top gainers on Sensex were Bajaj Finserv, Asian Paints, IndusInd Bank, Infosys and Bajaj Finance while the losers were Bharti Airtel, UltraTech Cement, Tata Motors, Sun Pharma and Axis Bank.
The BSE Sensex rose 142.43 points or 0.23% to 60,806.22 and NSE Nifty 50 climbed 21.75 pts or 0.12% to 17,893.45.
The rout in Adani Group stocks resumed on Thursday after Wednesday’s rise, as Morgan Stanley Capital International (MSCI) said that some Adani group stocks should no longer be designated as free float after investors raised concerns over the eligibility of the Adani companies for some of its indexes. Nine out of ten Adani Group firms were trading in the negative territory. Adani Enterprises stock plunged 20%, its lower price band on the NSE, before recovering slightly.
The inflows into equity mutual funds rose in January, led by investments in small- and multi-cap funds. SIP contribution jumped from Rs 13,573.08 crore in December 2022 to Rs 13,856.18 crore in January 2023. Net investments in equity and equity-linked schemes surged over 70% from December to Rs 12,546.5 crore in January, according to data released by the Association of Mutual Funds in India (AMFI). In January SIP accounts hit 6.21 crore, compared to 6.12 crore in December.
Himachal Pradesh state tax department reportedly conducted raids on Adani Wilmar in Parvanoo. GST officials visited the offices of Adani Wilmar Group late on Wednesday, 8 February. The raids were carried out after it was alleged that the company has not paid GST for the last 5 years, according to TV reports. The tax department has sought information about the company’s input tax credit claims concerning state operations. GST officials reportedly reached the location and checked all the relevant documents. However, the final outcome of this visit is yet to be known. Adani Wilmar shares jumped 5% to hit upper circuit at Rs 439 apiece on NSE.
Adani Enterprises shares fell over 7% to Rs 1994 after Morgan Stanley Capital International (MSCI) on Thursday said that some Adani group stocks should no longer be designated as free float after investors raised concerns over the eligibility of the Adani companies for some of its indexes. The changes for the Adani stocks associated with its MSCI Global Investable Market Indexes (GIMI) will be announced later today, as part of its regular review for February, according to the report.
The top gainers on the Sensex were Bajaj Finance, Larsen & Toubro, Infosys, TCS and Power Grid while the losers were Maruti, Tata Motors, UltraTech Cement, Bharti Airtel and Mahindra & Mahindra.
The BSE Sensex fell 39.34 pts or 0.06% to 60,624.45 and NSE Nifty 50 dropped 34.30 pts or 0.19% to 17,837.40.
“The Reserve Bank of India's Monetary Policy Committee raised the repo rate by 25 basis points to 6.5 percent on February 8 with a 4:2 vote. The rate hike decision met the majority of market participants' expectations. The Reserve Bank of India reduced its CPI inflation forecast for FY23 from 6.7 percent to 6.5 percent, with a 5.3 percent forecast for FY24. On the growth front, the RBI forecasts 6.4 percent real GDP growth for FY24, which has been raised to 7 percent for FY23 from 6.8 percent previously, making India one of the fastest-growing economies. The market has reacted positively to the policy statement.” – Om Mehra, Equity Research Analyst at Choice Broking.
“The Nifty witnessed positive price action throughout the day and closed with handsome gains on Wednesday. On the daily charts, we can observe that the Nifty after a two-day consolidation has resumed its up move. On the upside, the 20-day moving average (17872) is acting as a stiff resistance level. The hourly Bollinger bands have begun to expand and prices are moving along the upper band indicating that the positive momentum is likely to continue. With the daily and hourly momentum indicator having a positive crossover it is likely to provide speed to the up move. In terms of levels, 17972 – 18000 is the immediate hurdle zone while 17650 – 17600 shall act as a strong support zone. Until the zone of 17970 – 18000 is not taken out decisively we can expect the consolidation to continue. The range of consolidation from a short-term perspective is 17350 – 18000.” – Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas.