Adani Enterprises share price, other group stocks surge up to 15% as Nifty 50 jumps to record high
macro numbers and BJP's electoral win in three states. Shares of flagship firm Adani Enterprises jumped 10 per cent while those of Adani Green Energy jumped 15 per cent. Shares of Adani Total Gas clocked a gain of 14 per cent.
Shares of Adani Power surged 12 per cent while. Shares of Adani Wilmar rose 9.96 per cent, and Adani Ports shares rose 7 per cent. Among other Adani Group companies, NDTV share price rose 7 per cent, Ambuja Cements share price climbed 5 per cent and ACC share price rose 5 per cent.
Nifty 50 hit its record high of 20,602.50 while the Sensex, too, touched its fresh peak of 68587.82. BSE Midcap and Smallcap indices also hit their record highs of 35,124.23 and 41,221.91 respectively. The domestic market witnessed strong gains after the state election results that boosted optimism about political stability in the country.
Also Read: Nifty 50 at record high; time to increase exposure to equities or turn cautious? As Mint reported earlier, the Bharatiya Janata Party (BJP) saw emphatic victories across three major states on Sunday, boosting the ruling party’s prospects of prevailing in next summer’s general election. The results also ring alarm bells for the Opposition, specifically the Congress party, which was outgunned and now faces uncomfortable seat-sharing talks with potential allies in the INDIA bloc. "The state elections results have turned out to be a big event which can trigger renewed optimism and further rally in the market.
The market likes political stability and a reform-oriented, market-friendly government. From the market perspective, the results were better than expected," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services. Also Read: Assembly election results
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