Indian stocks registered slight increases on Wednesday, buoyed by a weakening dollar in international markets and the implementation of a ceasefire agreement between Israel and Hezbollah militants in Lebanon. This development contributed to a reduction in the risk premium associated with oil.
The ceasefire, set for a 60-day period, mandates Hezbollah to retreat 40 kilometers from the Israeli border, while Israel is expected to gradually pull back its residual ground forces from Lebanese territories. During this time, the Lebanese Army and State Security Forces are to redeploy and reclaim control over their domain. Furthermore, there will be a prohibition on the reconstruction of Hezbollah’s terrorist infrastructure in southern Lebanon.
The S&P/BSE Sensex, a key market index, concluded the trading day by gaining 230.02 points, or 0.29%, closing at 80,234.08 after experiencing some volatility. Similarly, the broader NSE Nifty index ended at 24,274.90, marking an increase of 80.40 points, or 0.33%, from the previous close.
Stocks in the Adani Group made a remarkable comeback from the losses witnessed in the preceding session following an official announcement clarifying that Gautam Adani, Sagar Adani, and senior executive Vneet Jaain are not under investigation for violations of the U.S. Foreign Corrupt Practices Act (FCPA). Consequently, Adani Enterprises saw an impressive surge of 11.6%, Adani Ports climbed 5.9%, while Adani Energy Solutions and Adani Green Energy both saw gains of approximately 10%.
Other notable gainers included NTPC, Trent, and BEL, each advancing by 2-3%. Conversely, companies such as Shriram Finance, Wipro, Titan Company, and Apollo Hospitals Enterprise experienced declines, each falling by around 1%.
