Indian Stock Market / Adani Group Stocks Rally Up to 3% as Sensex, Nifty Surge Over 1%

Mumbai, Oct 9: Adani Group stocks emerged among the top gainers on Friday as domestic equity benchmarks staged a strong recovery, with both the Sensex and Nifty closing more than 1 per cent higher. Shares of Adani Ports, Adani Enterprises and Ambuja Cements posted notable gains, while Reliance Industries and BSE Ltd ended in the red, weighing on the broader market's advancing momentum.

From the Nifty 50 index, Adani Ports and Special Economic Zone was among the gainers, surging 3.10 per cent to Rs 1,761 on NSE. It touched an intraday high of Rs 1,770, jumping as much as 3.62 per cent from the previous close.

Similarly, Adani Enterprises settled 1.48 per cent higher at Rs 2,634.40 on the NSE. Earlier in the day, it recorded an intraday high of Rs 2,653 which indicates a 2.19 per cent increase from the previous close.

Meanwhile, Ambuja Cements closed 3.08 per cent higher at Rs 351.50, Adani Green Energy at Rs 1,255.80, up 1.63 per cent and Adani Enterprises at Rs 2,634.40, up 1.48 per cent.

On the other hand, Reliance Industries fell 0.65 per cent to Rs 1,170.30 and BSE Ltd declined 1.43 per cent to Rs 3,287.20 among top losers of the basket.

Notably, top Nifty gainers were Apollo Hospitals, ITC, Eicher Motors, Tata Consultancy Services (TCS) and HCL Tech which surged up to 4.72 per cent on closing.
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Sector-wise, Nifty IT index led sectoral gains of about 3 per cent, followed by MidSmall IT & Telecom 2.56 per cent and FMCG 2.20 per cent.

The buying momentum in the technology sector came in after the US Department of Labor suspended eight major technology, including Infosys, Tata, Wipro and HCL Tech, and outsourcing companies from the Permanent Labour Certification Programme (PERM), halting all new and pending green card sponsorship applications for them.

Nifty Oil & Gas was the only loser, down 0.09 per cent. In addition, Sensex ended more than 1 per cent higher at 72,472.33. Nifty also gained 1.3 per cent to 22,520.45.

 (With inputs from IANS)