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The stock market had a good start today. The BSE Sensex opened 61 points higher at 66,963.20 and touched the 67020 level very soon. Whereas, the Nifty 50 of the National Stock Exchange today started the day at the level of 20108. Sensex was up 39 points at 66941 in early trade. While Nifty was trading at 20115 level with an increase of 18 points.
On the other hand, the flight of shares of Adani Group has stopped for the last two days. Adani Group shares are in the red in early trade today. Adani Power was down 1.73 percent while Adani Enterprises was down 1.33 percent. Adani Wilmar, Adani Total Gas and Adani Green Energy were 1.5 to 3 percent weaker. Adani Energy Solutions fell 2.67 percent in early trade. ACC, Ambuja Cement and NDTV were also in the red.
Adani’s stock fell in the Hindenburg storm, then rebounded and is now gaining momentum, jumping more than three times.
Among the Nifty’s top gainers today were Hero Motocorp and Ultratech Cement trading above two percent. Mahindra & Mahindra, Axis Bank and SBI Life gained 1.62 to 1.89 per cent. Talking about top losers, shares of companies like Adani Enterprises, Hindalco, Adani Ports, Tata Steel and Reliance were in this list.
The market capitalization of the stock market is more than the GDP of India
Indian stock market has achieved a new milestone. With a market cap of over four trillion dollars, the Indian stock market has become the fifth most valuable market in the world. If we look at the figures, it is more than the GDP of India. The market valuation of the Sensex has increased by $600 billion this year. The benchmark stock index Sensex surged 727 points on Wednesday while the Nifty closed above 20,000 points on the back of continued inflow of foreign funds.