Wednesday, June 28, 2023

Sensex and Nifty reach record highs in early trading, with Adani stocks leading advances


On Wednesday, the rise in some Adani group stocks and the strong performance of heavyweight financial stocks led India's benchmark stock indexes, the Nifty 50 and Sensex, to new record highs.

The Nifty index reached a new all-time high of 18,908.15 at 9:21 a.m., a significant increase of 0.48 percent. It had confronted obstruction last week because of mindful comments from the national bank.

The S&P BSE Sensex also rose 0.47 percent to a new all-time high of 63,716 at the same time.

The midcap and smallcap indices remained close to their respective 52-week highs, while the Sensex had previously set a record high last week.

After announcing plans to complete their proposed merger on July 1, HDFC and HDFC Bank extended their gains, resulting in gains for all 13 major sectoral indexes.

Adani Enterprises, the flagship company of the Adani group, was the Nifty's top gainer, rising as much as 4.6 percent.

Tokyo traded higher on Asian markets, while Seoul, Shanghai, and Hong Kong traded lower. On Tuesday, the US markets ended significantly higher.

According to exchange data, foreign institutional investors (FIIs) purchased shares worth Rs 2,024.05 crore on Tuesday.

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