Stock
market LIVE updates: Benchmark indices were see-sawing between gains and losses on Thursday as
news flow around Adani group, along with profit booking in heavyweights like HDFC twins, Reliance Industries, and Bajaj Finance weighed on the sentiment. However,positive reaction to the Union Budget kept downside in check. The S&P BSE Sensex was quoting around 59,800 level, up 114 points, while the Nifty50 was testing 17,600.
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Stock market LIVE updates: Benchmark indices were see-sawing between gains and losses on Thursday as
news flow around Adani group, along with profit booking in heavyweights like HDFC twins, Reliance Industries, and Bajaj Finance weighed on the sentiment. However,positive reaction to the Union Budget kept downside in check. The S&P BSE Sensex was quoting around 59,800 level, up 114 points, while the Nifty50 was testing 17,600.
UPL, Adani Enterprises, Adani Ports, HDFC Life, Apollo Hospitals, Bajaj Finance, ONGC, and HDFC were off lows, and now down up to 8 per cent.
Within the
Adani Group, Adani Ports trimmed losses to 5 per cent after tanking 9.5 per cent in early deals. Moreover, Adani Enterprises fell 10 per cent, Adani Ports 9.5 per cent, Adani Power 5 per cent, Adani Green Energy 10 per cent, Adani Total Gas 10 per cent, and Adani Wilmar 5 per cent in intra-day trade.
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This comes after Adani Enterprises decided to call-off its fully subscribed FPO late on Wednesday. Further, reports suggested that Citi Group’s Wealth Unit has halted mrgin loans on Adani Securities.
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Infosys, ITC, Britannia, IndusInd Bank, Infosys, Maruti, and HCL Tech, meanwhile, made strides with up to 5.5 per cent gains.
In the broader markets, the BSE MidCap and SmallCap indices gained up to 0.9 per cent. Among sectors, the Nifty FMCG gained over 2 per cent, followed by the Nifty IT index (up over 1 per cent). On the downside, the Nifty Metal index slipped 2 per cent.
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