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Sensex, Nifty Join Global Rally; Adani Group Stocks Climb
(RTTNews) - Indian shares opened on a strong note Friday, tracking firm global cues and BJP's strong performance in the assembly polls in the northeastern states of Tripura, Nagaland and Meghalaya.
The benchmark S&P/BSE Sensex jumped nearly 500 points, or 0.9 percent, to 59,407 in early trade, while the broader NSE Nifty index was up 155 points, or 0.9 percent, at 17,477.
Adani Group stocks remained in focus after the embattled group sold minority stakes in four of its listed companies to U.S.-based GQG Partners for Rs. 15,446 crore.
Adani Ports soared 7.2 percent, Adani Green Energy jumped 5 percent, Adani Transmission added 5 percent and Adani Enterprises climbed 8.6 percent.
Power Grid Corp, Reliance Industries and SBI jumped 1-3 percent.
Vedanta gained 1 percent while Hindustan Zinc traded 0.6 percent lower on reports the government has written to SEBI opposing the Hindustan Zinc-Vedanta deal.
Natco Pharma rallied over 3 percent on share buyback news.
Tata Power rose half a percent after entering into a partnership with Italy's Enel Group.
Indiabulls Housing Finance climbed nearly 2 percent after announcing a debt sale of Rs. 900 crore.
Yes Bank rose 0.7 percent despite reports that SBI may lower its stake in the bank after a lock-in period ends on March 6.
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