In response to conflicting signals from outside markets, India’s benchmark stock market indices, Sensex and Nifty, got off to a slow start on Tuesday.
The Sensex, the standard at BSE, opened at 65,272.42 points, while the Nifty50, the wider index at NSE, opened at 19,417.10 points.
At 9:40 AM, both the Sensex (which had risen 121.78 points, or 0.19 percent, to 65,337.87) and the Nifty50 (which had risen 41.70 points, or 0.22 percent, to 19,435.30) had reached new highs.
During premarket hours, Adani Power’s stock price rose by a whopping 5%. The corporation has set a lofty goal of increasing its thermal capacity to 21,110 MW by the end of FY2029.
Union Bank of India’s stock price increased by almost 1 percent to Rs 92.80 after the board of directors of the state-owned bank authorised a plan to issue equity shares to raise up to Rs 5,000 crore through qualifying institutional placement.
Jio Financial Services, however, fell for a second day in a row after its recent IPO, this time by 5 percent.
On NSE, the price of the stock was at Rs 236.45.
All major indexes were trading in the green, indicating strength in the broader markets.
There was a 0.77 percent rise in the Nifty Smallcap 50, 0.66 percent gain in the Nifty Midcap 100, a 0.65 percent spike in the Nifty Midcap 150, and a 0.63 percent boost in the Nifty Midsmallcap 400.
Nifty IT was the only sector to fall, by 0.13 percent, while all others were in the black.
With a noteworthy 0.96 percent increase, Nifty Metal led all indices, followed by 0.57 percent growth in Nifty Auto, 0.49 percent growth in Nifty Financial Services 25/50, and 0.42 percent growth in Nifty Realty.
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