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Support to Auto, IT and Adani Group for stock market recovery

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India’s stock markets also improved due to the ongoing recovery in global markets. Along with this, higher holding in shares of Automobile, Information Technology (IT) and Adani Group supported the market decline. The BSE Sensex closed at 61,730 with a gain of 298 points. Similarly, the NSE Nifty closed at 18,203, up 73.45 points.

Top Gainers (NSE)

company Closing Price (Rs.) increase (%)
Adani Ports 688.90 3.60
Adani Enterprises 1957.90 3.59
Tata Motors 525.40 3.33
Tech Mahindra 1071.45 2.17
Infosys 1269.20 1.86

After the report of the committee constituted by the Supreme Court regarding Adani Group became public today, there was a boom in the shares of companies of Adani Group. However, on the other hand, selling pressure in FMCG and consumer durable stocks limited market gains. There was some upheaval in the market in the morning to afternoon session.

Top Losers (NSE)

company Closing Price (Rs.) Reduce (%)
Devi’s Laboratory 3098.30 1.75
Britannia Industries 4499.85 1.41
Tata Consumer 765.45 1.40
NTPC 173.30 1.03
ONGC 164.90 0.87

Vinod Nair, head of research at Geojit Financial Services, said the domestic market lacked a decisive direction but ended the day on a positive note. Progress in debt ceiling talks boosted optimism in the US market. However, the prospect of a strong US economy suggests that the Federal Reserve may keep policy rates high for an extended period.