Mumbai: Domestic markets continued with gains tracking strong global cues. Investor sentiments lifted in most global markets after the US Federal Reserve decided to slow its rate hikes by expanding the federal funds rate target range to 25 basis points.

In another development, shares of Adani group firms continued to fall on Friday and the wealth of the industrialist was reducing every day since last week. Only Adani Ports gained during the session today.

BSE Sensex went up 909 points and settled at 60,841.88 while Nifty 50 gained 243.65 points to end the session at 17,854.05. Japan’s Nikkei was up 107, Hong Kong’s Hang Seng lost 297 points and China’s Shanghai lost 22 points.

In US markets, Nasdaq gained 384 points, S&P added 60 points while NYSE Composite was trading in the green. In Europe, most of the key indices were trading and ended in the negative territory as Asian key indices opened with mixed responses. When the market closed on Friday, shares of Adani Group’s flagship firm, Adani Enterprises, were down 2.19% to Rs 1,531 apiece on BSE. According to data available, in just five sessions, it has lost more than Rs 1,506.55 or declined over 49%.

Adani Ports and SEZ gained Rs 25 or surged 5.61% and settled at Rs 488.40 on Friday. The firm’s shares had lost more than Rs 166 or 25% in five days. Adani Green’s shares dropped 10% to Rs 935.90 apiece on Friday, while it lost Rs 392.30 or declined 29.54% in just five days.

Adani Transmission shares dropped 10% flat to Rs 1,396 apiece in the Friday session. The firm had lost Rs 371.25 or dropped 21% in just 5 days. FMCG firm Adani Wilmar dropped 5% to Rs 399 apiece on Friday morning while it lost Rs 91 or dropped more than 18.54% in five days.

On Friday, industrialist Gautam Adani also slipped out of the top 20 richest people on the World’s Real-time Billionaires list of Forbes and was placed in 22nd position on Friday. Gautam Adani’s wealth had declined 21.77% or USD 16.2 billion.

On the Nifty50 index, Titan Company surged 5% after strong third-quarter (Q3) performance and positive management commentary. IndusInd Bank jumped 4% as promoters gets the nod to increase their shareholding in the private lender. SBI jumped 3% ahead of Q3 earnings later in the day. Bajaj Finserv and SBI Life were up 3 per cent each.

The Nifty PSU Bank index rose 3.07% to 3,888.60. The index declined 5.84% in the last two trading sessions.

Bank of Baroda shares rose 6.36% as the bank’s net profit rose 75.4% to Rs 3,852.74 crore from Rs 27,092.09 crore in Q3 FY23, with a 32.27% rise in total income.

By Archana

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