Indian shares extended their winning streak for the seventh day running on Monday, as enthusiasm over the G20 Summit outweighed muted cues from global markets.
The benchmark S&P BSE Sensex jumped 528.17 points, or 0.79 percent, to 67,127.08 while the broader NSE Nifty index settled 176.40 points, or 0.89 percent, higher at 19,996.35.
Adani Enterprises rallied 3.7 percent and Adani Ports soared 7.1 percent after promoter firm increased its stake in two of the group’s listed companies.
Power Grid Corp, Apollo Hospitals Enterprise and Axis Bank all rose over 2 percent.
Railway-linked stocks soared following the historic U.S.- European Union (EU) agreement on the Mideast-India Rail and Shipping Corridor at the G-20.
RVNL jumped 17 percent, IRCON climbed 20 percent and IRFC added 10 percent.
SJVN advanced 20 percent after it signed a pact with Bhakra Beas Management Board (BBMB) to set up an 18 megawatt (MW) solar power project at an investment of Rs. 90 crore.
Reliance Industries rose over 1 percent, TCS gained 1.1 percent and Tata Communications rallied 2.6 percent after U.S. chipmaker Nvidia Corp announced separate partnerships to develop AI infrastructure in India.
Coffee Day Enterprises plunged nearly 15 percent after IDBI Trusteeship filed an insolvency plea against the company over a loan default.
Market Analysis
Sensex, Nifty Extend Winning Streak As Adani And PSU Stocks Climb
2023-09-11 10:26:56
