- Sensex up 214 points, Nifty climbs 54 points, recovering from intra-day lows.
- Adani Group stocks fall over 4% after new allegations from Hindenburg.
- OLA Electric hits upper circuit of 20% for the second consecutive session.
The Indian stock market showed resilience today, recovering from morning losses with both the NSE Nifty 50 and BSE Sensex posting gains.
Adani Group stocks experienced a sharp decline, falling over 4% following fresh allegations by Hindenburg against SEBI Chief Madhabi Puri Buch.
Market Rebounds as Sensex and Nifty Climb; Adani Stocks Fall Amid SEBI Controversy
The benchmark indices, Sensex and Nifty, rebounded from early trading losses, closing the day with notable gains. The NSE Nifty 50 increased by 54 points, settling at 24,421, while the BSE Sensex added 214 points to close at 79,920. Investors showed confidence in realty and metal stocks, which led the market’s recovery.
Adani Group stocks faced significant pressure, dropping over 4% in response to new allegations against SEBI Chief Madhabi Puri Buch by Hindenburg Research. Despite this negative sentiment, the overall market remained resilient, with the broader indices showing minimal impact.
Noteworthy performances were seen in OLA Electric and Jubilant FoodWorks. OLA Electric shares continued to attract investors, hitting the upper circuit limit for the second straight session, driven by positive sentiment following its recent IPO. Jubilant FoodWorks also saw a surge of over 9%, reaching a 52-week high after reporting strong Q1 FY25 earnings.
In contrast, Oil India reported a decline in PAT due to lower other income, but analysts from Prabhudas Lilladher remain optimistic, maintaining a ‘Buy’ rating. They predict steady growth in oil and gas production, with a projected increase in net oil realization by FY26, contributing to a target price of Rs 766.
Despite volatility and sector-specific challenges, the Indian stock market demonstrated resilience, with key indices recovering and select stocks achieving significant gains, signaling investor confidence in the overall economic outlook.
“Markets are driven by sentiment, and today’s recovery despite sector-specific setbacks reflects underlying investor confidence.”
