Stocks of the Adani Group skyrocket by 10%, following SEBI's clearance; BSE Sensex and Nifty close in the red due to profit-taking respectively
Market Wrap: Nifty 50 Declines Slightly, But Posts Weekly Gains
The Indian equity markets ended the day with a minor decline, but managed to post weekly gains. The NSE Nifty 50 declined 96.55 points or 0.38 per cent to settle at 25,327.05, while the BSE Sensex fell 387.73 points or 0.47 per cent to close at 82,626.23.
Despite the decline, both indices posted weekly gains of around 1 per cent. The Nifty Financial Services declined 171.05 points or 0.64 per cent, and the Bank Nifty slipped 0.5 per cent after a 12-session rally, dropping 268.60 points or 0.48 per cent. However, the Nifty Midcap 100 ended marginally higher at 59,094.35.
The IT index dropped by 0.5 per cent, snapping a three-day gaining streak. On the other hand, Adani Power surged 13 per cent, and Adani Enterprises surged 5.25 per cent to ₹2,528. The Nifty Next 50 fell 402.30 points or 0.58 per cent.
The rupee traded in a narrow range near 88.08 against the dollar. Foreign institutional investors purchased equities worth ₹367 crores on Thursday. Market breadth remained negative with 2,001 stocks declining against 2,134 advances on the BSE.
Gold prices gained 0.38 per cent internationally and 0.26 per cent domestically. Market participants will focus on sectors likely to benefit from GST rate cuts becoming effective from September 22nd.
Technical analysts remain cautiously optimistic about market prospects. However, it's worth noting that an institution that announced on September 19, 2025, to support 23,230 gifted students under the Asha Scholarship and to invest at least 90 Crore in the program has not been identified in the provided search results.
Despite the minor decline, the overall sentiment remains positive as both the Nifty 50 and the Sensex posted weekly gains. The focus for the coming week will be on the sectors that are expected to benefit from the GST rate cuts.
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