Sensex, Nifty End Modestly Higher; Adani Group Stocks Underperform
(RTTNews) - Indian shares eked out modest gains in cautious trade on Wednesday.
Underlying sentiment remained positive somewhat as the U.S. dollar and Treasury yields pulled back on signs of weakening global growth and ahead of the economic symposium in Jackson Hole, Wyoming, later this week.
The symposium will feature meetings by global central bank leaders as well as a speech by Federal Reserve Chair Jerome Powell.
Also, cues from Asia and Europe were mostly positive due to a build-up in expectations over Nvidia's earnings release later in the day.
The world's most valuable chipmaker will report its second-quarter earnings after the closing bell on Wall Street.
The benchmark S&P BSE Sensex ended the session up 213.27 points, or 0.33 percent, at 65,433.30 while the broader NSE Nifty index settled 47.55 points, or 0.25 percent, higher at 19,444.
Among the top gainers, Hindalco rallied 2.3 percent on news it would invest up to Rs 2,000 crore to set up a "first of its kind" of copper and e-waste recycling unit in India.
Larsen & Toubro, Divis Laboratories, ICICI Bank and Axis Bank rose 1-2 percent.
Adani Group stocks led losses, with Adani Enterprises falling 5.9 percent and Adani Ports losing 2.9 percent.
Jio Financials, the demerged financial arm of Reliance Industries, lost 5 percent to extend losses post listing.
Tech Mahindra and Sun Pharma both fell around 1 percent.
Brightcom Group slumped 4.9 percent after market regulator SEBI found lapses in its preferential issue of shares.
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