Indices recover; SENSEX down 100 pts, NIFTY50 trades above 24,100; Adani Green Energy jumps 9%

Investor sentiment was dented due to weak Q2 GDP print.

India's economic growth slowed to near a two-year low of 5.4% in the July-September quarter of this fiscal year due to poor performance of manufacturing and mining sectors as well as weak consumption, but the country continued to remain the fastest-growing large economy, data showed on Friday.

At 10:10 AM, the S&P BSE SENSEX was trading at 79,638.74 levels, down 164 points, or 0.21%, while the broader NIFTY50 index was trading at 24,121.25 levels, down 9.85 points, or 0.04%. 

Of 50 stocks on the NIFTY50 index, 34 traded in negative territory and the rest 16 in the green.

Among individual stocks, Adani Green shares zoomed as much as 9% to ₹1,445 apiece on the BSE. 

Shares of Aster DM Healthcare, the private hospital network, were trading 3% higher, as Aster and Blackstone-backed Quality Care India on Friday announced a merger deal through a share swap deal creating one of India's top three hospital chains.

The two companies have signed definitive agreements to merge, subject to regulatory, corporate, and shareholders' approvals, Aster DM Healthcare (Aster) and Quality Care India Ltd (QCIL) said in a joint statement.

Broader Market

The BSE MidCap index was trading at 46,173.67 levels, up 103 points, or 0.22% while the BSE SmallCap index was trading at 55,389.19, up 189 pointsm or 0.34%.

Sector Watch

Realty stocks were the biggest gainers, followed by consumer durables, and healthcare counters.

The BSE REALTY index was trading at 8,105.97 levels, up 146 points, or 1.84%.

Global Markets

Asian stocks climbed on Monday, buoyed by record-high closes on Wall Street, while the dollar bounced back from multiweek lows against the yen and British pound in a crucial week for the US interest rate outlook.

Chinese shares got an additional boost from a robust reading in a private manufacturing survey on Monday, confirming strength in the official data on manufacturing from the weekend.

Incoming US President Donald Trump provided the dollar support by warning the BRICS emerging nations against trying to replace the greenback with any other currency.