Today, the day-to-day market has seen ups and downs. But in the end it stopped at the green mark and started buying banking shares. The Bombay Stock Exchange’s flagship index Sensex rose 280.15 points, or 0.56 per cent, to close at 50051.44. On the other hand, the Nifty on the National Stock Exchange rose .38.35 points, or 0.53 percent, to close at 14,814.75. Last week, the BSE 30-share index fell 933.84 points, or 1.83 percent.
Buy banking shares
Today, the court refused to intervene in the government’s loan suspension policy. At the same time, the court also rejected the issue of extending the loan suspension order. The court also rejected claims for further financial relief. The court said the government has already waived the compound interest of small orrow recipients. The court cannot order more relief than this. We are not economic advisers to the government. The government has also received less taxes due to the epidemic. So interest cannot be completely waived. Banks have been relieved by this decision, but on the other hand, many other sectors, such as the real estate sector, have been hit by the demand for interest waiver. Banking shares have risen since then.
Adani ports to gain control over Gangaram port
On Tuesday, Adani Ports and Special Economic Zone said it would acquire a controlling stake in Gangabaram Port Limited (GPL) worth Rs 3,604 crore from DVR Raju and his family. Under the agreement, Adani Port’s total stake in the GPL will increase to 89 percent. GPL is in the northern part of Andhra Pradesh, next to the port of Visakhapatnam. “DVS Raju and his family are acquiring 56.1 per cent stake in Adani Ports and Special Economic Zone (APSEZ) Gangaram Port Limited, the main force of the Adani Group,” the company said in a statement.
Shares of Adani Port and Adani Energy Growth
Since then, stocks of Adani ports have risen sharply. After opening at 730.25, it rose 14.85 points (2.06 percent) to close at 736.75. The company currently has a market capitalization of 1.50 trillion. Shares of Adani Energy also rose today. It was level off. At present, the market capitalization of Adani Energy has exceeded Rs. 20 trillion to Rs. 20.5 trillion.
The same was true of older stocks
Speaking of large stocks, shares of Shree Cement, Ultratech Cement, HDFC Bank, IndusInd Bank and Davis Lab closed at the green mark today. On the other hand, shares of Power Grid, Hindalco, ONGC, Gayle and ITC closed at the red mark.
Sectoral indicator tracking
If we look at the sectoral index, today, all sectors except FMCG, metals and media are off the green mark. These include IT, Pharma, Realty, Auto, PSU Bank, Finance Services, Private Bank and Banks.
The market was open with a green sign
The stock market opened early today towards the green mark. The Sensex opened 151.50 points (0.30 percent) higher at 49922.79. At the same time, the Nifty opened 46.40 points or 0.31 percent higher at 14782.80.
The stock market was closed on Monday with the fall
The stock market closed in red on Monday. The Sensex was down 86.95 points, or 0.17 per cent, at 49971.29 and the Nifty was down 7.60 points, or 0.05 per cent, at 14736.40.