Market posted strong gains, most of Adani Group stocks recover
At close, the Sensex was up 1,961.32 points or 2.54% at 79,117.11, and the Nifty was up 557.35 points or 2.39% at 23,907.25.
A recovery in the global markets coupled with a decline in the crude oil prices aided the domestic markets to trade in the positive during the afternoon session of the trade on Wednesday.
“A recovery in the global markets has worked well for the domestic indices, which have shown some recovery. The ease in crude oil prices has also brought in some positivity in the markets,” said Astha Jain, Senior Analyst, Hem Securities.
Healthy buying was witnessed in energy, realty, banking and finance counters whereas the IT and healthcare stocks slipped into the red on the back of a recovering rupee.
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The domestic currency was trading at Rs 73.29 to a US dollar from its previous close of 73.57. Also, the crude oil prices eased to $76.37 a barrel.
The Sensex opened at 34,203.70 points from its previous close of 33,847.23 points and at 1.08 p.m it traded at 33,945.73 points up 98.50 points or 0.29 per cent.
It touched an intra-day high of 34,300.97 points and a low of 33,895.01 points.
The NSE Nifty50 traded at 10,184.05 points during the afternoon trade session, up 37.25 points and 0.37 per cent.
Adani Ports stocks on Wednesday traded almost 7 per cent lower, at Rs 311.30 a share after it reported a 38.36 per cent decline in its net profit for the second quarter ending September, in a BSE filing on Tuesday.
The stocks of IT major Wipro traded 1.20 per cent lower, at Rs 305.60 a share and that of Bajaj Auto were up by 2.60 per cent, at Rs 2,589 a share ahead of their second quarter results, expected later in the day.
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