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Sensex, Nifty Surge

• The Indian stock market ended positively on Wednesday, with significant gains in the energy, commodities, and PSE sectors.
• Adani Portfolio companies, particularly Adani Ports, saw substantial growth, leading the market.
• Despite positive trends in India, Asian market sentiment was mixed due to potential US tariff impositions.
• Market experts predict strong H2FY25 earnings forecasts, indicating continued positive momentum for the Indian market.

The Indian stock market concluded on a positive note on Wednesday, with buying observed in the energy, commodities, and PSE sectors. The Sensex closed at 80,234, marking a gain of 230.02 points or 0.29 per cent, while the Nifty ended the day at 24,274.90, up by 80.40 points or 0.33 per cent.

The day's trading saw all Adani Portfolio companies making gains on the indices. Adani Power shares closed at Rs 525.15, reflecting a significant jump of Rs 87.50 or 20 per cent. Adani Enterprises Ltd's stock also saw an upward trend, closing 11.56 per cent higher at Rs 2,399 apiece. Adani Green shares were not far behind, closing at Rs 988.40 after gaining Rs 89.85 or 10 per cent.

Adani Portfolio Companies Shine

The Nifty Bank index was up by 110.30 points, or 0.21 per cent, closing at 52,301.80. The Nifty midcap 100 index ended the day at 56,272.35, marking a gain of 357.95 points or 0.64 per cent. The Nifty smallcap 100 index closed at 18,502.85, up by 237.55 points or 1.30 per cent. Market experts have noted that Indian indices continue to exhibit a positive upside due to healthy consolidation and the likelihood of strong H2FY25 earnings forecasts. However, the market sentiment in Asia was mixed due to the potential tariff impositions by the US.

Sectoral Indices and Market Trends

On the sectoral front, energy, commodities, PSE, media, private banks, auto, financial services, and FMCG were the major gainers. However, IT, PSU bank, pharma, and realty sectors were the major losers. In the Sensex pack, Adani Ports, NTPC, HDFC, Bajaj Finance, Maruti, JSW Steel, M&M, Axis Bank, Tech Mahindra, and Bajaj Finance were the top gainers.

On the other hand, Titan, SBI, Asian Paints, TCS, HCL Tech, Sun Pharma, IndusInd Bank, and ICICI Bank were the top losers. Rupak De of LKP Securities commented on the market trends, stating, The Nifty has been consolidating over the past three days following a sharp up move earlier. On the higher side, it faces resistance at 24,420; a decisive breakout above this level could trigger a significant move toward higher levels. On the lower side, support is positioned at 24,100.

Historical Market Trends and Conclusion

In the past, similar trends have been observed in the stock market. For instance, in March 2024, the Sensex gained 165 points, while the Nifty ended flat. The realty sector shed over 3% during that period. In another instance, in February 2024, the Sensex and Nifty slipped 0.5%, breaking a 6-day winning streak. The Nifty IT, Energy, and Auto sectors were down by 0.5-1.5%. On the Bombay Stock Exchange (BSE), 2,586 shares were traded in green and 1,344 in red, while 110 shares saw no change.