Equity benchmark indices Sensex and Nifty opened on a positive note in early trade on Thursday amid buying in blue-chip stocks like HDFC Bank and State Bank of India.

The BSE benchmark Sensex rose 95 points to 80,329.08 in early trade. The NSE Nifty went up 48.15 points to 24,323.05.

From the 30-share Sensex pack, HDFC Bank, Adani Ports, ITC, State Bank of India, Hindustan Unilever, Tata Motors, IndusInd Bank and Tata Steel were among the gainers.

Tech Mahindra, Infosys, HCL Technologies, Mahindra & Mahindra, Tata Consultancy Services and Power Grid were among the laggards.

Foreign Institutional Investors (FIIs) bought equities worth ₹7.78 crore on Wednesday (November27, 2024), according to exchange data.

“The consolidation phase in the market is likely to continue in the near-term. A clear positive for the market is the cessation of relentless selling by Foreign Instututional Investors (FIIs). This will give confidence to retail investors to again start buying aggressively.

“But there is no room for such high optimism. Strong dollar is a negative for emerging markets and, therefore, FIIs are unlikely to turn aggressive buyers,” V.K. Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said.

In Asian markets, Seoul and Tokyo were trading in the green while Shanghai and Hong Kong quoted lower.

The US markets ended lower on Wednesday.

Vijayakumar added that large institutions would prefer to wait and watch for clarity on US President Elect Donald Trump’s policies and its likely impact on trade and the global economy.

Global oil benchmark Brent crude dipped 0.21 per cent to USD 72.68 a barrel.

On Wednesday, the BSE benchmark climbed 230.02 points or 0.29 per cent to settle at 80,234.08. The Nifty rose 80.40 points or 0.33 per cent to 24,274.90.

Adani Power was nearly 16% up, while Adani Ports and SEZ had risen 7.2% in the morning trade on November 27, 2024.
| Photo Credit: Dado Ruvic

After getting beaten down on Tuesday, all Adani group stocks recovered sharply on Wednesday (November 27, 2024), with Adani Green Energy Ltd. seeing the first uptick in share price since the U.S. Court indictment of the firm and its senior employees on bribery and securities fraud charges came to light on November 21, rising 10% as of 1330 hours on the Bombay Stock Exchange.

The group flagship Adani Enterprises was also up 10%, after a 4.8% decline on Tuesday (November 26, 204). Adani Energy Solutions Ltd was 10% higher as well.

Also read: Former Attorney General Mukul Rohatgi says no bribery charges against Gautam Adani, nephew in U.S. indictment

Adani Wilmar had risen 7.3% so far on Wednesday (November 27, 2024), while the group’s cement firms ACC and Ambuja Cements, were up 4.3% and 4.6%, respectively.

Adani Total Gas led the gains with a 16.5% surge, indicating investors were unfazed by the French partner TotalEnergies SE’s decision to freeze fresh investments into the Adani group.

Adani Power was nearly 16% up, while Adani Ports and SEZ had risen 7.2% in the day’s trading so far.