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HomeCURRENT AFFAIRSBUSINESSStock Market Today: GIFT Nifty indicates a bullish start; Adani Group, Reliance...

Stock Market Today: GIFT Nifty indicates a bullish start; Adani Group, Reliance in focus

Stock Market Today: The NSE IX’s GIFT Nifty traded 36 points, or 0.18 percent, higher at 20,182, indicating that Dalal Street will have a successful start to the day on Thursday. Nifty on Wednesday produced an Inside Body candle on the daily charts to show uncertainty between bulls and bears around the 20,000 mark, even though it ended 77 points higher at a record closing high. Asian markets increased on Thursday as investors switched their attention to a European Central Bank meeting later in the afternoon, reasoning that a slight increase in U.S. inflation was unlikely to result in a rise in interest rates.

Rupee falls; Tokyo stocks opened higher

The spike in crude oil prices and the strong US dollar abroad caused the rupee to weaken by 6 paise to settle at 83.01 against the US dollar on Wednesday. On Thursday, investors hailed the recovery of US technology companies following mixed US inflation data as Tokyo equities opened higher.The broader Topix index increased 0.57 percent, or 13.47 points, to 2,392.11 while the benchmark Nikkei 225 index gained 0.72 percent, or 234.15 points, to 32,940.67 in early trading.

Stock Market Today: Stocks in focus

Adani Group

The largest wind turbine in India, 5.2 MW Adani Wind’s generator gained type certification from WindGuard GmbH. The Group has been in negotiations with lenders for a number of months to restructure the $3.8 billion in debt it took on for the Ambuja acquisition.

Reliance

Reliance Retail, the company’s retail division, reportedly had discussions with existing investors, including the sovereign wealth funds of Singapore, Abu Dhabi, and Saudi Arabia, to raise $1.5 billion.

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