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Indices Start On A Weak Note; Adani Green Surges 5%

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Amid mixed global cues, Indian benchmark indices started the trading week with losses . At the start, Sensex was dragged down by over 330 points, while Nifty was down 0.46% at 14676. Broader markets however outperformed, with Nifty Midcap 100 up 0.5%.

Top gainers in early trade include stocks like BPCL, Cipla, Divis Labs, Dr Reddys Labs and Britannia while laggards included Tata Motors, HDFC, ICICI Bank, Axis Bank and HDFC Bank.

Indices Start On A Weak Note; Adani Green Surges 5%
 

Among nifty sectoral indices barring FMCG, pharma and IT all the indices traded in the red, with maximum weakness in the banking and financial space followed by Nifty Media.

Bharti Airtel entered into an agreement for acquiring 17,43,560 shares in Sandhya Hydro Power Project Balargha, a special purpose vehicle (SPV), the telecom operator said in its BSE filing. The stock last traded weak at Rs. 529.

Adani Green has inked definitive agreements with the Toronto-headquartered SkyPower Global to take over 100% stake in a special purpose vehicle that owns 50 MW operating solar asset in Telangana. The stock gained 5 percent to Rs. 1252.2 per share on the NSE.

Oil prices continued to fall on Monday after having fallen almost 7 percent last week as concerns over a fall in demand for fuel products amid more European lockdowns weighed. Brent crude fell by nearly 1 percent to $63.93 per barrel.

Meanwhile, Asian markets at the time of writing this copy traded mixed with Nikkei down close to 2 percent, while South Korea's Kospi and Shanghai Composite traded higher.

GoodReturns.in

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