Market Ends With Healthy Gains, Nifty Climbs Above 19,900; Adani Stocks Surge On SC Order

The Indian stock market witnessed a surge in key indices, with both Sensex and Nifty 50 ending near the day's high. The Midcap Index rose to a historic high, capping off a session that saw several stocks making significant moves.

The Nifty broke above the 19,900 mark intraday for the first time since September 20, reflecting the robust sentiment in the market. The Sensex climbed 205 points to 66,174, while the Nifty gained 95 points, closing at 19,890. The Nifty Bank added 112 points, reaching 43,881, and the Midcap Index surged 228 points to a new record of 42,278.

The Adani Group stocks experienced a remarkable upswing, soaring up to 20% after the Supreme Court reserved its order in the Adani-Hindenburg case. All Adani Group stocks closed higher, marking their best day since the Hindenburg Report on January 24.

Oil Marketing Companies (OMCs) rode the positive wave fueled by a favourable brokerage report, with BPCL gaining 3% and HPCL ending more than 6% higher. Tata Motors, Titan, and Hindustan Aeronautics hit intra-day record highs, with Tata Motors surging nearly 4%. Coal India witnessed a nearly 3% increase on reports of a potential price hike for the non-power segment.

Jubilant Foodworks, on the other hand, ended the day flat, after the company proposed to acquire the remaining stake in DP Eurasia NV. PSU insurance companies continued their rally, with GIC and New India Assurance rising up to 8%.

Raymond, however, faced a challenging day, declining for the tenth consecutive session and falling more than 4%. In the technology sector, Netweb Tech surged more than 8% after becoming a manufacturing partner for NVIDIA. Multi Commodity Exchange (MCX) continued its upward trajectory, marking its third straight session with a nearly 7% gain and an impressive year-to-date rise of more than 100%.

Market breadth favoured advances, with an advance-decline ratio at 1:1, indicating a broad-based positive sentiment. Overall, BSE companies collectively gained a market cap of nearly Rs 3 lakh crore in today's trade.