Adani and Energy Stocks Offset IT Decline

28 Nov 2023 , 03:46 AM

India’s blue-chip indexes stay flat as Adani and energy stock gains offset IT stock decline.  At the time of writing Sensex was trading at Rs 65,970 which is a 0.31% hike than previous close. Whereas Nifty was trading at Rs 19,889 which is a 0.48% hike than the previous close. Nine of 13 sectors see gains, with metals rising 1.1%, driven by Adani Enterprises surge.

Adani group stocks, including Adani Enterprises and Adani Ports, lead Nifty 50 gainers. All Adani group stocks rise 3% to 15% after SEBI announced it won’t seek extension for the Adani probe.

Energy and oil and gas sectors rise nearly 1%, benefiting from oil prices near $80 per barrel ahead of OPEC meeting.

Falling oil prices benefit Indian importers and oil marketing companies. IT stocks decline by 0.6% after a previous 5.07% surge driven by soft U.S. inflation data. The overall index fell by 0.42% last week.

For feedback and suggestions, write to us at [e-mail]