Stock Market LIVE: Indices trading lower, Adani Ent tanks 3%
Stock Market LIVE: Indian stock markets opened lower on Thursday as indicated by the SGX Nifty in the morning. Nifty today opened at 18119.80 levels down by 45.55 points while Sensex made a negative opening of 125.72 points at 60920.02 levels. The domestic markets extended their losses amid negative global cues.
The market sentiments were hit due to negative cues from the U.S. markets. The weak U.S. economic data released on Wednesday fueled recession worries. Further hawkish comments made by the Fed officials dampened the market sentiments. However, Asian markets recovered most of their early losses at this moment.
On the domestic front, markets are trading lower with a cut of around one-third of a percent each in the morning deals. Domestic indices showed some volatility in the session amid the weekly expiry of F&O later in the day.
Stock Market LIVE Today
Market Live at 10.50 am IST, the Indian stock market indices, Sensex and Nifty are trading marginally lower by 0.27 percent and 0.30 percent respectively. The Bank Nifty is down by 0.17 percent at 10.50 am IST. The broader markets are also trading lower at this moment, as Nifty midcap and smallcap indexes are trading lower by 0.12 percent and 0.43 respectively at this time.
Among the sectors, all sectoral indices are trading lower at this time, Media, Energy, and Realty are dragging the most. The top gaining stocks Nifty 50 index are UPL, Tata Steel, and HDFC Life, and the losing stocks are Adani Enterprise, Titan, and Hindalco.
Stocks in News Today
JSW Energy received a letter of Award (LoA) for total 500MW/1,000MWh Standalone Battery Energy Storage Systems (two projects each of 250 MW / 500 MWh) from Solar Energy Corporation of India (SECI). The share of JSW Energy is trading higher by 1.70 percent at Rs 269 per share
Adani Enterprises board members have approved FPO at a floor price of Rs 3,112 per share and a cap price for FPO of Rs 3,276 per share. Retail investors will get FPO shares at a discount of Rs 64 per share, with a minimum of 4 FPO shares and in multiples of 4 FPO shares thereafter. The share price of Adani Enterpris is trading lower by 3.74 percent at Rs 3468 per share
The share price of Persistent Systems is trading above 4 percent after the company reported an 8.2% sequential growth in profit at Rs 238 crore for the third quarter that ended December FY23, with revenue growing 5.9% QoQ to Rs 2,169.4 crore and dollar revenue rising 3.4% to $264.35 million for the quarter. The company has announced an interim dividend of Rs 28 per share for FY23. The share price is trading at Rs 4135 per share
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