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Indian Equities End Higher; Adani Stocks Rebound
The Nifty 50 index settled 0.76 per cent higher at 17,080.70. The S&P BSE Sensex rose 0.60 per cent to 57,960.09, on March derivatives series expiry day
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Indian equities rose on Wednesday as easing worries about the global banking turmoil brought back risk-taking and led to a broad-based gain among all sectors, while a rebound in Adani group stocks helped sentiment.
The Nifty 50 index settled 0.76 per cent higher at 17,080.70. The S&P BSE Sensex rose 0.60 per cent to 57,960.09, on March derivatives series expiry day.
Twelve of the 13 major sectoral indexes advanced. The heavyweight financials index rose 0.73%, with Bajaj Finance, Bajaj Finserv, Chola Investment among the top gainers.
Among stocks, most Adani group companies gained after a drop on Tuesday following a report that said the conglomerate was seeking to renegotiate debt, which the group refuted.
Adani Enterprises and Adani Ports rose 8.72 per cent and 7.29 per cent, respectively and were the top Nifty 50 gainers.
M&M jumped 1.42 per cent after ICICI Securities upgraded the stock to "buy.”
Bajaj Auto surged 2.31 per cent after JP Morgan reiterated its "overweight" rating on the stock.
Indian markets will be closed on Thursday on account of Ram Navmi.