Stock Market Ends 3-Day Winning Streak On Profit-Booking, Adani Group Stocks Shine After SEBI Clean Chit
Sensex fell 387 points due to profit-taking in major bank stocks like HDFC and ICICI. Meanwhile, Adani Group stocks surged up to 13% after SEBI cleared them in Hindenburg case.
Sensex Falls After 3 Days of Gains. | Representation Image
Mumbai: The Indian stock market took a pause from its recent rise. On Friday, the BSE Sensex dropped by 387.73 points to end at 82,626.23, breaking its three-day winning streak. The NSE Nifty also declined by 96.55 points, closing at 25,327.05.
This fall was mainly due to profit-booking in heavyweight banking stocks like HDFC Bank and ICICI Bank, which were among the top losers.
Adani Group Stocks Rally Strongly
On the brighter side, Adani Group stocks saw a strong rally, jumping up to 13% in a single day. This came after SEBI gave a clean chit to Gautam Adani’s group in the stock manipulation case raised by Hindenburg Research.
SEBI said that the fund movements within Adani companies did not break any rules. As a result, shares of Adani Power, Adani Total Gas, Adani Green, Adani Enterprises, and Adani Energy Solutions surged.
Global Market Trends and FII Data
In Asia, markets in South Korea, Japan, and China ended lower, while Hong Kong’s Hang Seng ended higher. European markets were trading in the green, and US markets closed higher on Thursday.
Brent crude oil prices slipped 0.55 percent to USD 67.07 per barrel. Meanwhile, foreign investors (FIIs) bought stocks worth Rs 366.69 crore on Thursday.
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