After the news related to Bank Privatisation, the shares of Central Bank of India and Indian Overseas Banks rose by 20-20 per cent. In the four companies of Adani Group, buyers dominated and upper circuit today.
Upper circuit in four companies of Adani Group.
Sensex today: On the first day of the week on Monday, the Sensex closed at 52574 with a gain of 230 points and the Nifty closed at the level of 15740 with a gain of 63 points. When the market opened this morning, there was a lot of pressure on it. In the morning, the Sensex opened at the level of 51887 with a fall of 457 points. During trading, it had reached the lowest level of 51740 and the highest level of 52629.
Today the Sensex closed with a gain of 834 points from the day’s lowest level, while the difference between the highest and the lowest level was 889 points. Shares of HDFC Bank, HDFC Ltd., State Bank of India and Reliance Industries strengthened in the market amid a mixed trend globally. NTPC’s stock was the top gainer with the Sensex up nearly 4 per cent. . Apart from this, Titan, SBI, HUL, IndusInd Bank and UltraTech Cement also saw good gains. On the other hand, other stocks including Maruti, TCS, Tech Mahindra and L&T declined.
Adani Group rocked
Here the clouds of crisis have been averted on the shares of Adani Group. Today, out of the six listed companies of Adani Group, four have upper circuit. Today there is an upper circuit of 5 percent in Adani Green Energy, 4.96 percent in Adani Power, 5 percent in Adani Transmission and 5 percent in Adani Total Gas. Apart from this, there was a rise of 3.53 percent in Adani Enterprises and 5.29 percent in Adani Ports and Special Economic Zone today.
20% jump in these two public sector banks
Apart from this, there was a tremendous rise in PSU banking shares today. According to the report of CNBC Awaaz, NITI Aayog has selected Central Bank of India and Indian Overseas Bank for disinvestment. The government will sell its 51-51 percent stake in these two banks in the first phase. After this news came to the fore, both the stocks hit the upper circuit at 20 percent.
Global trend still weak
According to Vinod Modi, Head of Strategy, Reliance Securities, the domestic stock market exited sharply due to the fall in early trade and closed with gains despite a weak trend globally.
Reliance shares stir ahead of AGM
He said, “The improvement in the shares of public sector banks was the main reason for the rally in the market. Before the annual general meeting of Reliance Industries, the company’s stock strengthened and helped in recovering the market. Barring Auto and IT, most of the major segment wise indices were trading in gains, outperforming losses.
Small and midcap stocks rose
After the fall, investors once again preferred to buy in the shares of small and medium companies. Most of the other markets in Asia were trending down. However, there was a rise in early trade in the major markets of Europe. Meanwhile, international oil benchmark Brent crude gained 0.18 per cent to settle at $73.46 per barrel.
Also read: Mukesh Ambani and Subhash Chandra may join hands, Zee Entertainment and Viacom 18 may merge
(with language input)
.