Indian Markets trade in a flat trajectory; Adani Group stocks jump ~20%

28 Nov 2023 , 01:39 PM

Indian benchmark indices are trading flat in Tuesday’s afternoon session as a major rise in Adani group stocks balances the fall in heavyweight IT stocks.

At around 1.30 PM, BSE Sensex is trading at 65,945, down by 25 points only. NSE Nifty is trading 29 points higher at 19,823.70.

Nifty IT stocks are trading with a decline of 0.58%. All other sectoral indices are trading with gains.

On Tuesday, IT stocks lost 0.6%. They gained 5.07% in the week ending November 17 after weak US inflation statistics raised expectations of a stop to rate rises.

On the day, all Adani group equities gained between 3% and 15%. The Supreme Court postponed its decision in a batch of petitions seeking court-monitored investigations into charges made against the organization by short-seller Hindenburg Research, which the group has rejected.

Adani Enterprises is the biggest gainer in the day so far, with an uptick of 10%, followed by Adani Ports. Tata Motors is trading 3% higher. BPCL is up by 3%. Coal India is trading with a gain of 2%.

Eicher Motors, SBI Life, LTIMindtree, Apollo Hospital, and ICICI Bank are trading as the biggest laggards on the nifty index.

A total of 29 stocks advanced, and 21 stocks declined on the nifty index today.

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