April 6: Stock market closes after slight upturn, Adani Ports surges 14%

The Indian stock market closed in the green mark on April 6 with a slight bounce. The benchmark index Sensex gained about 0.10% while the Nifty index strengthened by 0.30%. Most of the trade in the market was stock and sector-based amidst considerable volatility. Pharma sector stocks performed well.

In the absence of major changes, the Sensex remains close to 49,000. At the same time, the Nifty 50 also remained near 14,700 at the time of closing the market.

The big things of the business of April 6 –

The BSE Sensex gained 42 points on Tuesday. At the same time, the NSE Nifty 50 index gained 44 points.

At the time of closing the market, 14 out of 30 stocks of the Sensex pack remained in the red mark. The Nifty pack gained 32 shares in 50.

Adani Port’s stock strengthened by more than 14% due to the acquisition of Krishnapatnam Port and an increase in cargo volumes in March.

In the Nifty 50 Pack, shares of Infosys, JSW Steel, Tata Steel, Tata Consumers, UPL, and Adani Ports made their 52-week peak.

The Midcap 100 index gained 0.91% while the Nifty Smallcap 100 index gained 1.35%.

The Volatility Index (VIX) has reached 20.84 after declining by 1.79%.

Market Movement

Nifty

Open – 14,737.00
Close – 14,683.50
Variation – (+ 0.31%)
High – 14,779.10
Lo- 14,573.90

Sensex

Open- 49,441.13
Close – 49,201.39
Variation – (+ 0.09%)
High – 49,582.26
Lo- 48,936.35

What was the reason for the market boom?

On Tuesday, most of the trade was stock-based in the direction of the market. The valuation of the market had improved after a big fall on the previous day. Investors are taking precautions before the Reserve Bank’s Monetary Policy Announcement. Foreign investors and domestic institutional investors have also not shown great interest in the market in the last few days.

Which sector did how well?

On 6 April most of the Nifty sectors did not see major changes. Nifty Auto, IT, Financial Services and Energy Index closed flat with slight changes. The Nifty Metal and Pharma index gained nearly 1.5%, while the Bank index closed down 0.54%. The FMCG and realty sector gained nearly 1%.

Nifty-50 shares seen the fastest in these stocks

Adani Ports (+ 14.50%)
Tata Consumers (+ 4.66%)
Asian Paints (+ 3.96%)
JSW Steel (+ 3.77%)
SBI Life Insurance (+ 3.26%)

These shares of Nifty-50 are broken.

Power Grid (-2.03%)
Grasim (-1.34%)
Eicher Motors (-1.08%)
Axis Bank (-0.91%)
Ultratech Cement (-0.82%)

Stocks that remain most active-

Adani Ports, Tata Motors and Tata Steel were the three most active stocks in the Nifty by value. At the same time, the volume of Adani Ports, Tata Motors and SBI dominated the stock.

What is the sign next?

The market will be affected by Corona, FII investments, signals from overseas markets, and news related to bond yields. Investors should be careful in the market and only trade in goods stocks.