Indian markets rise as Adani Group stocks recover amid global declines

India's benchmark indices saw a slight increase on November 27, with the Sensex closing at 80,234.08, up 230.02 points (0.29%), and the Nifty settling at 24,276.7, up 82.20 points (0.34%). The market showed positive breadth, with 2,470 stocks advancing and 1,302 declining.

Adani Group stocks experienced a surge of up to 12% after it was announced that chairman Gautam Adani and his aides were not charged under the US Foreign Corrupt Practices Act. This resulted in an increase of Rs 1.2 lakh crore in the market capitalization of the group's listed firms.

In contrast, European markets and US equity futures declined as investors assessed recent US cabinet appointments and awaited key economic data for insights on interest rate trends. The Stoxx 600 index in Europe fell by 0.3%, while S&P 500 futures dipped 0.2%. US Treasury yields also decreased, with the 10-year benchmark yield dropping four basis points to 4.27%. Speculation regarding trade policies intensified following the appointments of Jamieson Greer as US Trade Representative and Kevin Hassett to lead the National Economic Council, both of whom played significant roles in shaping trade strategies during Donald Trump’s first term.

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