Share Market Recovers After Early Losses; Sensex Rises 274 Points, Adani Enterprises Gains

The domestic stock market, which had seen declines on four out of the last five trading days, opened lower today but regained momentum as the session progressed. Monday’s trading was closed due to Republic Day.

Market Movements Today

New Delhi: India and the European Union (EU) are set to formally announce a trade deal today, being touted as the “Mother of All Deals.” Ahead of this announcement, market volatility was observed. The BSE Sensex had dropped over 400 points in early trading, while the NSE Nifty 50 slipped below the 24,950 mark. By 9:53 AM, the Sensex had rebounded by 233.05 points (0.29%) to 81,770.75, and the Nifty gained 92.40 points (0.37%) to 25,141.05.

Following the Republic Day holiday, market participants returned cautiously after a week where the Sensex had lost ground on four of five trading sessions.

Sector and Stock Performance

Among Sensex constituents, Axis Bank, UltraTech Cement, and Adani Ports saw the highest gains. Adani Enterprises, the flagship company of the Adani Group, surged 3% in early trade. On the other hand, Kotak Mahindra Bank, Eterna, and Mahindra & Mahindra faced the steepest losses, with Mahindra & Mahindra shares dropping 4% in early trade.

In the broader market, the Nifty Smallcap 100 index fell 0.26%, while the Nifty Midcap 100 index declined 0.13%. Sectorally, Nifty Metal advanced over 1%, whereas Nifty Auto lost nearly 1.5%.