Nifty Trades Near 2,52,400 NTPC Gains 1.97%.
In the afternoon trade, domestic equity benchmarks were trading with limited gains. The Nifty was trading near the 25,400 level after hitting the day’s low of 25,336.20 in early afternoon trade. Except for the Nifty FMCG index, all other sectoral indices on the NSE were trading in the green. At 13:30 IST, the barometer index, the S&P BSE Sensex rose by 143.76 points or 0.17% to reach 83,034.59. The Nifty 50 index gained 43.30 points or 0.17%, reaching 25,399.80. In the morning trade, the Sensex and Nifty touched an all-time high of 83,184.34 and 25,445.70, respectively. NTPC (up 1.97%), JSW Steel (up 1.77%), Hindalco Industries (up 1.51%), and Mahindra & Mahindra (up 1.39%) stood as the major Nifty gainers.
Stocks in Spotlight:
Adani Power jumped 6.22% and Adani Green Energy surged 7.57%. The said companies will sign a long-term power purchase agreement (PPA) and a supply power agreement (SPA) with Maharashtra State Electricity Distribution Company for the supply of 6600 MW of hybrid solar and thermal power.
Torrent Power rose 0.79%. The company announced that it has committed investments of over Rs 64,000 crore for the green or renewable energy projects at RE-Invest 2024, with potential employment for 26,000 people.
Global Markets:
European and Asian stock markets switched mixed as investors prepared for a significant week of interest rate decisions from the U.S. Federal Reserve and the Bank of England. On Friday, U.S. stock markets closed higher ahead of the Federal Reserve’s upcoming policy meeting. The S&P 500 gained 0.54%, the tech-heavy Nasdaq Composite increased by 0.65%.
