Stock Market Update: Sensex Jumps 1100 Points, Adani Stocks Make a Comeback
Friends, today was a very special day for the stock market because after Thursday’s massive fall, the Indian stock market made a great comeback on Friday. Sensex and Nifty saw a big rally, while Adani Group stocks also showed signs of improvement. This uptrend is a sign of restoring investor confidence in the market and recovering from the fall of the previous session.
Sensex and Nifty movement
The market showed a positive trend from the start of Friday’s trading session.
Sensex: Opened 200 points higher in the morning and by noon climbed 1100 points to reach 78,258.
Nifty: Nifty was seen trading at 23,691 with a gain of 341.55 points.
On Thursday, the market lost $27 billion due to allegations of bribery and fraud against Adani Group Chairman Gautam Adani by the US Securities and Exchange Commission (SEC). However, on Friday the shock seemed to be almost over from the market.
SBI shares at the forefront
The banking sector played a big role in this recovery.
SBI: Reached Rs 811 with a gain of 4%.
Other major stocks: Except Axis Bank and HDFC Bank, the rest of the 28 Sensex stocks remained in the green.
This rise in SBI also strengthened Bank Nifty and Finance Nifty.
Movement in Adani Group stocks
- Adani Group stocks saw improvement after a huge fall on Thursday.
- Adani Green: After the initial decline, recorded improvement by noon.
- Adani Energy Solutions: Coming above the 52-week low, it was trying to recover 8.57%.
- Adani Enterprises: Seen in the process of recovering from the low of Rs 2,030.
However, investors should be cautious about the volatility in these stocks, especially when the investigation of US authorities is ongoing.
Reason for market recovery
Global cues: Improvement in US and European markets supported the Indian market.
Economic recovery expectations: The strong state of the Indian economy and the positive sentiment of investors boosted the market.
Strength of banks: The boom in public and private banks played an important role in the recovery of the market.
Tips for investors
Focus on strong stocks: In the recovery of the market, keep an eye on the shares of those companies whose fundamentals are strong.
Diversify: Maintain diversity in your portfolio so that the fall of any one sector does not have much impact.
Have a long-term view: Instead of getting affected by short-term fluctuations in the market, focus on long-term investment.
Friday’s rally has not only given relief to the market but has also rekindled confidence in investors. However, more news in the coming time on the affairs of the Adani Group may affect the market. In such a situation, it is very important to invest cautiously and wisely.
It is hoped that the stock market will continue to perform well in the future and move up and save investors’ money from sinking.
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