Volatility Grips Sensex and Nifty, Adani Green Energy Surges

14 Feb 2024 , 01:48 PM

Domestic benchmark indices, Sensex and Nifty, experienced significant declines in line with Asian peers, fueled by concerns over a potential delay in the Federal Reserve’s rate easing due to hotter-than-expected US inflation.

Sensex traded at ₹71,236, reflecting a 0.45% decrease from the previous close, while Nifty was at ₹21,685, indicating a 0.39% dip.

Top gainers included Nalco (9.62%), Vodafone Idea (6.12%), BPCL (5.33%), and HINDPETRO (4.77%). Meanwhile, top losers encompassed L&T technology (-5.12%), Glenmark (-4.99%), Info Edge (-4.92%), and Mphasis (-3.90%).

Adani Green Energy (AGEL) witnessed a nearly 4% rise to ₹1,882 on BSE after operationalizing 551 MW solar capacity in Khavda, Gujarat, supplying power to the national grid.

Nuvama Wealth Management (formerly Edelweiss Securities) experienced a 14% surge in shares following the firm’s announcement of nearly doubling its net profit in the December quarter.

Sony reported a 15% decline in operating profit for the first nine months of the financial year ending March, with a profit of 979 billion yen ($6.50 billion) in the April-December period.

Adani Green Energy is planning to raise $500 million by issuing dollar bonds in March, marking the first Adani group company to return to the overseas bond market in a year.

JSW Steel announced a 7% YoY growth in consolidated crude steel production in January ’24.

Nazara Technologies’ subsidiary, NODWIN Gaming International Pte Ltd, signed definitive agreements to acquire 100% of Ninja Global FZCO, a company based in the UAE and Turkey.

Godrej Properties Ltd acquired 12.5 acres of land in Hyderabad for a housing project with a revenue potential of ₹3,500 Crore, marking the company’s entry into the Hyderabad property market. The rupee fell by 4 paise to 83.12 against the US dollar in early trade.

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