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stocks rebound as pharma and infrastructure lead market gains on november 29

On November 29, the Nifty and Sensex rebounded strongly, with the Sensex rising 759 points to 79,803 and the Nifty gaining 217 points to 24,131, driven by gains in pharma, infrastructure, energy, and auto stocks. Zee Entertainment shares surged 5% after shareholders rejected CEO Punit Goenka's reappointment, while Divi's Laboratories rose 4% following a bullish report from Citi. Adani Group stocks jumped up to 20% after being included in the NSE's F&O segment, and Easy Trip Planners saw a 10% increase after announcing a 1:1 bonus share issue. Conversely, CreditAccess Grameen fell 8.5% after a downgrade from Goldman Sachs, which revised its target price significantly lower.

NSE adds 45 new stocks to futures and options trading segment

The National Stock Exchange (NSE) has expanded its futures and options (F&O) segment by adding 45 new stocks, effective November 29, 2024, increasing the total to 223. This inclusion, following SEBI’s revised criteria, aims to enhance liquidity and market participation, featuring notable stocks like LIC, Jio Financial Services, and Zomato. Analysts anticipate that this move will boost trading volumes and improve price discovery for these stocks.

Adani Group stocks surge as futures and options trading begins

Shares of Adani Green Energy, Adani Energy Solutions, and Adani Total Gas surged by 6-14% on November 29, following their inclusion in the National Stock Exchange’s futures and options (F&O) segment. Adani Green led the gains with a 14% increase, while Adani Energy Solutions rose by 12% and Adani Total Gas by nearly 6%. The F&O inclusion significantly boosted trading volumes, with over half of their one-month daily averages traded within the first hour.

TotalEnergies suspends new investments in Adani Group amid corruption allegations

TotalEnergies has announced it will cease new investments in Adani Group companies due to ongoing federal indictments against Chairman Gautam Adani and his nephew. The company emphasized its stance against corruption and stated that no new financial contributions will be made until the allegations are clarified. TotalEnergies currently holds a 19.75% stake in Adani Green Energy Limited and significant stakes in other Adani ventures.

BSE to launch futures and options on 43 stocks including Adani and Zomato

BSE Ltd has announced the introduction of futures and options contracts on 43 individual stocks, including three Adani companies, Paytm, and Zomato, effective December 13. Details of the derivative contracts will be available in the derivatives contract master file generated at the end of the day on December 12, 2024.

adani group stocks rebound after significant market losses from bribery allegations

Adani Group stocks showed signs of recovery after a significant drop due to US bribery charges. Adani Ports and SEZ rose 1.7% to Rs 1,133, while Adani Green Energy climbed 3.5% to Rs 1,186. Despite this, Adani Energy Solutions fell 3.5% to Rs 673, following a tumultuous session that saw the group lose Rs 2.2 lakh crore in market capitalization.

adani stocks plummet amid us bribery allegations and market turmoil

Adani Group's stocks continued to decline following serious bribery allegations against Gautam Adani, with a staggering market capitalisation loss of Rs 2.2 lakh crore on November 21. Adani Enterprises plummeted 23% to Rs 2,184, while Adani Green Energy fell 20% to Rs 1,146. Other firms, including Adani Energy Solutions and Adani Ports, also experienced significant losses, further impacting the group's market value.

adani group faces market turmoil after us bribery charges

Gautam Adani faces US bribery charges linked to a $250 million scheme, causing significant declines in Adani Group stocks, which fell up to 25% on November 21. The group's market capitalization dropped by Rs 2.2 lakh crore, impacting related companies and major lenders like SBI and PNB, whose stocks fell by up to 7%.

Adani Group faces 2.2 lakh crore loss amid US bribery allegations

Adani Group's market capitalization plummeted by Rs 2.2 lakh crore on November 21, with stocks falling up to 20% following US bribery charges against Gautam Adani. Prosecutors allege he and other executives paid over $250 million in bribes to secure solar energy contracts, violating federal laws while raising $1.36 billion from American investors. Just hours before the allegations, Adani raised an additional $600 million through green dollar bonds from US investors.

city gas distribution shares plunge as government cuts gas allocation again

Shares of city gas distribution companies, including IGL and MGL, plummeted over 10% on November 18 following a 20% cut in Administered Price Mechanism (APM) gas allocation for the second consecutive month. IGL reported a 20% reduction in allocation, while MGL faced an 18% cut, impacting profitability. The company is actively seeking solutions, including potential gas price increases to mitigate the adverse effects.
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