Business · India Bureau
Adani Ports, TechM surge to record highs as Sensex stocks gain momentum
A clutch of blue-chip stocks are trading near or at all-time peaks, with Adani Ports and TechM leading the rally. Parent company Eternal, which owns food delivery and quick commerce platforms, has climbed 18% in fortnight.
LSN India ·
Indian equity markets are witnessing strong performance from select heavyweight stocks, with multiple Sensex constituents reaching new highs or near-peak valuations. Adani Ports and Tollways and Tata Consultancy Services unit TechM are among the frontrunners, reflecting investor confidence in infrastructure and technology plays.
Eternal, the holding company for Zomato and Blinkit, has emerged as a notable gainer, with its stock price surging approximately 18% over the past two weeks on the BSE. The sharp appreciation underscores renewed market enthusiasm for the quick commerce and food delivery sectors, which have seen significant business momentum in recent months.
ICICI Bank has also moved closer to its peak valuations, joining the ranks of stocks trading near historical highs. The banking sector's strength reflects broader economic optimism and credit growth expectations in the Indian market.
Analysts attribute the rallies to improved corporate earnings outlooks, robust macroeconomic indicators, and strong foreign portfolio flows into Indian equities. The sustained buying interest in largecap and quality stocks suggests investors remain upbeat on India's growth trajectory, despite global economic uncertainties.