Stock Market At Close: Sensex, Nifty Rise; Adani Ports Top Gainer, Britannia Top Drag

The Indian stock market ended in the green amid volatility. At close, Sensex was up 178 points at the 72026 level while Nifty gained 52 points and ended the session at the 21710 mark.

Around 1377 stocks advanced and 1171 declined while 97 remained unchanged.

Among sectors, IT and Capital Goods indices rose 1 percent each, while pharma and PSU Bank indices were down 0.3-0.5 percent.

Top Nifty50 Gainers

Top Nifty50 Losers

Asian markets end up mixed

On January 5, 2024, the Asia-Pacific markets displayed a mixed trend following initial declines in the first few trading days of the year. Most markets experienced reductions by the end of the first week.

The Hang Seng index in Hong Kong dropped by 0.63 percent. Australia’s S&P/ASX 200 concluded 0.07 percent lower at 7,489.10. Japan’s Nikkei 225 rose by 0.27 percent, closing at 33,377.42, while the broader Topix increased by 0.62 percent, reaching 2,393.54.

Also read: NPCI launches UPI-Based System for Secure & Streamlined Secondary Market Trading

European markets tumble

European markets were lower Friday, rounding off a choppy first week of the new year. The Stoxx 600 fell 0.77 percent. FTSE fell 0.89 percent at 7,654 while CAC dipped 1.15 percent at 7,364 mark. German DAX slipped 0.31 percent at 14,547 level.

Stocks in the news

HDFC Bank: down 0.7%
The bank reported its update for the October-December quarter of the current fiscal year. The lender’s gross advances for the quarter ended December surged 62.4 percent to Rs 24.69 lakh crore on-year.

On a sequential basis, the private lender’s gross advances gained around 4.9 percent from Rs 23.55 lakh crore. “Grossing up for transfers through inter-bank participation certificates and bills rediscounted, the bank’s advances grew by around 60.7 percent over December 31, 2022, and around 3.8 percent over September 30, 2023,” HDFC Bank said.

Sobha: down 2.03%

The share price of Sobha was trading in the red amid profit booking. The real estate company reported its highest-ever quarterly sales in the October-December period.

Shree Cement: down 4.89%

Heavy selling engulfed shares of Shree Cement on January 5 following reports from media outlets stating that the income tax department issued a tax order of Rs 4,000 crore against the company. Sources informed CNBC TV-18 that the I-T department alleges wrongful claims and deductions amounting to Rs 4,000 crore from Shree Cement. In response, the company dismissed the allegations as speculative and lacking merit.

Adani surpasses Ambani to become the richest Indian

Gautam Adani, the chairman of Adani Group, has surpassed Mukesh Ambani, the chairman and managing director of Reliance Industries, in the Bloomberg Billionaires Index, claiming the title of the richest Indian. Adani currently holds the 12th spot, exceeding Ambani, who holds the 13th position.

Adani’s net worth now amounts to $97.6 billion, while Ambani’s net worth is $97.0 billion. Both billionaires have ascended in their rankings on the list.

Disclaimer: The information provided in this blog post is for informational purposes only and should not be construed as investment or trading advice. The author is not a financial advisor and does not have any professional qualifications in this area. The author does not guarantee the accuracy or completeness of the information provided. Any action you take based on the information in this blog post is done at your own risk. Please consult with a financial advisor before making any investment decisions.