Stock Market Updates: Sensex, Nifty Erase Gains; All Adani Stocks Fall

Sensex Today: Domestic markets were in positive territory in Thursday’s intra-day trade, tracking mixed global cues.

Benchmark indices the S&P BSE Sensex gained over 100 points to trade around 65,229 levels, while Nifty50 traded flat above 19,350.

Broader markets, on the other hand, outperformed benchmark indices as Nifty Midcap 100 and Nifty Smallcap 100 indices surged up to 0.7 per cent.

Sectorally, Nifty IT and Nifty Media gained the most, up to 1 per cent. On the flipside, Nifty Pharma and Nifty Realty indices were the worst hit.

Among individual stocks, Adani Group shares declined 1-3 per cent after new reports alleged family partners buying own Adani shares.

Global Cues

Hong Kong’s Hang Seng index popped 0.8 per cent, and mainland Chinese stocks were in negative territory. Japan’s Nikkei 225 advanced 0.58 per cent, and Australia’s ASX200 added 0.1 per cent. South Korea’s Kospi, however, fell 0.26 per cent as industrial production slid 8 per cent year-on-year in July.

Overnight, the S&P500 index climbed 0.38 per cent in the US, while the Dow Jones Industrial Average added 0.11 per cent after US annual gross domestic product growth for the second quarter was downwardly revised on Wednesday to 2.1 per cent from the previous 2.4 per cent forecast. The tech-heavy Nasdaq Composite advanced 0.54 per cent.