Sensex rises 445 pts from day's low to end flat; Adani FPO fully subscribed

CLOSING BELL
 

A fag-end buying helped domestic markets stage turnaround in Tuesday's trade, after the Economic Survey 2022-23 projected 6.5 per cent GDP growth in FY24. Moreover, traders also remain watchful of the Union Budget 2023 due on Wednesday, February 1, and the US Federal Reserve's interest rate stance.
 

Benchmark indices Nifty50 closed at 17,662 levels, up 13 points or 0.07 per cent, while the S&P BSE Sensex closed at 59,549 levels, up 50 points or 0.08 per cent. Both Nifty50 and the S&P BSE Sensex hit day's low of 17,537, and 59,104, respectively. However, later, Nifty50 recouped over 50 points to hit day's high of 17,735 levels, and the S&P BSE Sensex recovered over 250 points to scale day's high of 59,787 levels.
 

Broader markets, too, remained upbeat throughout the day as Nifty MidCap 100 and Nifty SmallCap 100 indices outperformed benchmark indices to close up to 2 per cent.
 

Besides, sectors like the Nifty PSU Bank, and Nifty Media indices displayed strong performance, as they climbed up to 4 per cent. On the flipside, Nifty IT and Nifty Pharma indices were the worst hit as they dropped up to 1 per cent.
 

Among individual stocks, shares of Larsen & Toubro (L&T) were down 2 per cent, on profit booking after the engineering company reported a 24.2 per cent YoY rise in consolidated net profit in Q3FY23. READ MORE

Adani FPO fully subscribed
On the final day, Adani Enterprises' follow-on-public offer (FPO) was fully subscribed, led by non-institutional investors (3.2x), qualified institutional buyers (1.2x), and retail investors (0.1x). 

Global Check
The US equity futures were bogged down in Tuesday's trade ahead of the Federal Reserve's interest rate decision. Dow Jones Futures, the S&P 500 Futures, and NASDAQ Futures dropped up to 0.4 per cent.

European markets, too, were subdued this noon as Stoxx 600, CAC 40, and FTSE 100 indices slumped up to 0.7 per cent.