Hindenburg embroiled Adani Group’s stocks rebound; investor sentiments improve on positive global cues

March 6, 2023

On account of positive global cues and strong recovery in Adani Group stocks , the Benchmark stock market indices jumped nearly 1 percent as the S&P BSE Sensex jumped 548.62 points to 60,357.59, while the NSE Nifty 50 climbed 157.50 points to 17,751.85. Trends are reflecting the strong reversal in market sentiments and the broader markets and all sectoral indices were trading in positive territory.

Benchmark Stock Indices jump nearly 1 percent

Positive territory trading by sectoral indices

Nifty Metal was the top sectoral gainer, rising 1.52 per cent, boosted by a 10% jump in Adani Enterprises
Nifty IT rose 10 1.49 per cent as 9 out of 10 constituents gained over 1 per cent due to strong US data
Nifty Oil and Gas gained above 1 percent

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Adani Stocks dominate

Adani stocks dominated NIFTY 50 index in early trade , with Adani Enterprises leading from the front and was followed by Adani Ports which gained nearly 5 percent. At the same time all other Adani group stocks rallied after investment firm GQG Partners bought shares of 4 group companies worth over Rs 15,000 crores.

At a time when there is high volatility on Dalal Street due to global economic situation, GCQ’s investment in Adani stocks have helped it in regaining their footings in the stock market.

Gainers on 50 share index

Other gainers on the 50 share index , which gained over 1 percent in early trade which have given the indication that Bulls are back in the Dalal Steet