Domestic markets witness volatility, recover in morning session

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MUMBAI: The domestic markets opened on Monday with, losses but recovered during the morning session. Key global indices were trading in the green, following US’ economic growth at 2.9 per cent in the December quarter. Asian and European markets were trading in the green. Only Japan’s Nikkei was trading in the red when it opened on Monday.

The Adani Group firms suffered heavy losses on Wednesday and Friday last week, however, on Monday Adani Enterprises and Adani Ports were seen trading in the green. Other group firms, namely Adani Transmission, Adani Green and Adani Total Gas, among others, were trading in the negative in the morning, but may recover.

The Hindenburg report, which came out with a scathing report against the conglomerate on January 24, dragged down the values of their shares on Wednesday and Friday.

The BSE Sensex went up 45 points to 59,426.99 while NSE Nifty surged 26 points to 17,622.60 at 10 am on Monday morning.

Among other gainers, Adani Enterprises, Data Patterns, Kiri Industries and Agi Greenpac were trading in the green on BSE at 10 am in the morning session on Monday. On NSE, Adani Ports, Bajaj Finance, Bajaj Finserv and NTPC were the most stocks during the morning.

In the Asian markets, Japan’s Nikkei was up 91 points, Hong Kong’s Hang Seng was down 297 points, China’s Shanghai was up 23 points while S&P was trading in the negative on Monday morning. In European markets, FTSE, CAC, Deutsche Borse and Refinitiv Europe were all in the green.

In US markets, Dow Jones was up 28 points, Nasdaq went up 109 points, S&P 500 was trading in the green and Refinitiv United States was also in the green when Asian markets opened on Monday morning.

On Friday, markets in Europe and Asia advanced across the board, after US economic data came in stronger than expected, and with a slew of rate hike decisions due next week. The downturn in the US business activity eased slightly in January even as it contracted for the seventh straight month, survey showed on Tuesday.

On Friday, Sensex closed the week’s last session at 59,330.90 points, down 874.16 points or 1.45 per cent, whereas Nifty closed at 17,604.35 points, down 287.60 points or 1.61 per cent. The Indian benchmark equity indices — Sensex and Nifty — hit their over-three-month lows during Friday’s session. (ANI)

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