Nifty, -0.1%; Sensex, -0.01%; Model Portfolio, +0.5%; Nifty Midcap, +0.4%; Smallcap, +0.1%
Daily Market Review
Market Status: Confirmed Uptrend
Benchmark indices saw an upward moment in the first half of trading session. However, due to selling pressure in banking stocks, Nifty and Sensex fell sharply from day’s highs.
On the sectoral front, it was a mixed reaction. Nifty IT (-0.7%) and Metal (-0.1%) were major losers. Nifty Realty (+1.9%) and Auto (+1.1%) gained the most.
Advance-decline ratio was in favor of gainers. Of the total 2,089 stocks traded on the NSE, 1,014 advanced, 743 declined, and the rest ended flat.
Adani Ports And Sez.: The Company announced a plan to raise $750M from issuance of fixed rate senior unsecured notes. The proceeds will be used to fund capital expenditure requirement and toward debt repayment. The stock was down 2% today.
Reliance Infrastructure: The Company said that it will complete the sale of its stake in Delhi-Agra Toll Roadway to Cube Highways by August for Rs 3,600 crore. The proceeds will reduce its debt by 25% to less than Rs 5,000 crore. The stock was down 2.4% today.