June 21, 2024

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Sensex, Nifty End Marginally Lower; Adani Group Stocks Rally

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Indian shares fluctuated before ending marginally lower on Friday due to muted cues from global markets.

Global bond yields ticked higher, denting investor sentiment. A weaker dollar and falling oil prices prompted some buying at lower levels, resulting in a flat close for markets.

The benchmark S&P/BSE Sensex swung between gains and losses before ending the session down 47.77 points, or 0.07 percent, at 65,970.04. The broader NSE Nifty index settled 7.30 points, or 0.04 percent, lower at 19,794.70.

Healthcare and metal stocks advanced, offsetting losses in the IT and FMCG sectors.

Britannia Industries, TCS, HCL Technologies, Apollo Hospitals Enterprise and Wipro fell 1-2 percent in the Nifty pack, while Adani Ports, Hindalco, Divis Laboratories, Cipla and Adani Enterprises rallied 1-3 percent.

Adani Group stocks were in focus after capital market regulator SEBI told the Supreme Court that it will not seek an extension to complete its probe in the Adani-Hindenburg matter.
CJI said, “We don’t have to accept the allegations in Hindenburg report as truth. They are not before us here. That’s why we asked SEBI to look into it.”
The gains in Cipla was fuelled by positive brokerage reports.

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Market Analysis

2023-11-24 05:37:37

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