Markets climb on sharp rally in Adani group firms

November 27, 2024 17:08

Equity benchmark indices Sensex and Nifty rebounded on Wednesday, driven by a sharp rally in Adani group stocks and fresh foreign fund inflows.

The BSE benchmark Sensex climbed 230.02 points or 0.29 per cent to settle at 80,234.08. During the day, it surged 507.09 points or 0.63 per cent to 80,511.15. The NSE Nifty rose 80.40 points or 0.33 per cent to 24,274.90.

From the 30-share Sensex pack, Adani Ports surged 6 per cent. NTPC, HDFC Bank, Bajaj Finance, Maruti and Axis Bank were among the other gainers. In contrast, Titan, State Bank of India, Asian Paints, Tata Consultancy Services, HCL Tech, Sun Pharma, IndusInd Bank and ICICI Bank were among the laggards.

Shares of Adani Group firms, including Adani Power, Adani Total Gas, Adani Enterprises, Adani Energy Solutions and Adani Green Energy, surged after an Adani Group entity said on Wednesday that Gautam Adani and his aides have not been charged under the US Foreign Corrupt Practices Act, adding that they faced three other charges, including securities and wire fraud that are punishable with monetary fines.

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