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The market was disappointed on Thursday due to the allegations against Adani in the US court. After the day's work on Thursday, Sensex and Nifty closed with a decline. On the sectoral front, except IT and realty sector, all sectors of BSE closed with a decline. Metal, energy and oil & gas stocks saw the biggest decline. PSE, auto and infra index closed on a decline.
In this way, after Tuesday's rise, the negative momentum has started once again in the market. Nifty has now slipped again to a 5-month low. After serious allegations from the US court and SEC, there was a huge sell-off in Adani Group stocks. At one point, Adani Group stocks saw a sell-off of up to 25%. However, after the statement from the Adani Group, these stocks also showed recovery from the lower levels.
During this period, the total market capitalization of Adani Group stocks saw a decline of ₹ 2 lakh crore and they closed down by 7% - 23%. At what level did the market close today After a full day's work on Thursday, the Sensex closed 423 points down at 77,156. Nifty closed 169 points down at 23,350. The Nifty Midcap Index closed 163 points down at 54,385. At the same time, Nifty Bank fell 254 points to close at 50,373.
Where else was the action seen in the market?
Buying continued in Power Grid today and this stock topped the list of fastest stocks on Nifty today. Indian Hotels reached a record high today. The company is preparing to double its income by 2030. Suzlon Energy closed on the upper circuit for the third consecutive session.
NLC closed 6% higher after announcing an investment of ₹3,720 crore. UPL closed 2% higher. The company is selling 12.5% stake in subsidiary Advanta Enterprises. Paytm closed 3% higher today after brokerages issued a positive note.
Swiggy today broke its 6-day losing streak and the stock closed 2% higher. PSP Projects closed 10% lower. Adani Infra had announced the acquisition of 30% stake in the company at ₹642 per share.
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