Indian stock markets applied brakes to their three-day winning run amid profit booking at higher levels. At 11 AM, the BSE Sensex index was trading at 82,611, falling 402 points or 0.48 per cent, while the Nifty50 was at 25,319, lower by 104 points or 0.41 per cent.
Adani Group shares soared up to 8 per cent led by Adani Power, Adani Enterprises, Adani Green, and Adani Ports. The surge in Adani stocks came after the Securities and Exchange Board of India (Sebi) on Thursday closed proceedings against Adani group companies, Group Chairman Gautam Adani, and associated entities facing accusations of fund diversion, violations of related-party transactions (RPTs), and fraud.
Meanwhile, M&M, ICICI Bank, TCS, Titan Company, HCL Tech, Ultratech Cement, Power Grid, Bajaj Finance, Eternal, and Kotak Bank were exerting pressure on the benchmark, trading as top losers.
On the flipside, Adani Ports, Bharat Electronics, L&T, NTPC, Maruti Suzuki, and Bajaj Finserv were the only Sensex gainers today.
In the broader markets, the Nifty MidCap index and the Nifty SmallCap index were up by 0.2 per cent each.
Among sectors, the Nifty IT, and the Nifty Private Bank indices were the top losers, falling 0.5 per cent each. This was followed by the Nifty FMCG index (down 0.4 per cent), and the Nifty Auto index (0.2 per cent). On the higher side, the Nifty PSU Bank index rose over 0.1 per cent, followed by Nifty Energy, Metal, Oil & Gas, and Pharma.
IPO today
Ivalue Infosolutions IPO (Mainline) and JD Cables IPO (SME) has entered Day 2 of their subscription, while VMS TMT IPO (Mainline) and Sampat Aluminium IPO (SME) entered Day 3
Euro Pratik IPO (Mainline) will see its allotment.
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