Expose on Adani group Trigger a Sharp Selloff – Wednesday Closing Report
Moneylife Digital Team 25 January 2023
Nifty ended below 17,900 and Sensex slumped 773.69 points as investors, as most Adani group shares crashed on the last day of F&O expiry, following an expose by US-based Hindenburg Research. On the Bombay Stock Exchange (BSE), 1120 stocks advanced, 2396 declined and 130 remained unchanged with advance decline ratio of 0.46, indicating a negative closing of stocks in broader markets.
 
The trend of the major indices on Wednesday’s trading is given in the table below:
 
 
On NSE, 22 securities advanced and closed at new 52 week high whereas 80 securities sank to close at their new 52-week lows.  
 
All the sectoral indices ended in red. Nifty PSU Bank, Nifty Energy, Nifty Media and Nifty Infrastructure were among the biggest losers. 
 
Indian rupee closed at 81.59/$ against previous close of 81.72/$.
 
Ashoka Buildcon (+0.63%) has received Letter of allotment worth Rs2,161 crore from NHAI.
 
Happiest Minds (-1.33%) has acquired Sri Mookambika Infosolutions for Rs111 crore.
 
Sun Pharma (-0.03%) has launched SEZABY in US which is used to treat neonatal seizures.
 
Rail Vikas Nigam (+0.53%) has bagged order worth Rs38.4 crore from Southern Railway.
 
Jet Airways lenders challenged ownership transfer to Jalan-Kalrock consortium.
 
SEBI has levied Rs26 crore penalty on Cafe Coffee Day’s parent company.
 
LTIMindtree (-1.47%) has partnered with Duck Creek and Microsoft to build a cloud migration solution for insurers. 
 
Teamlease (-3.01%) will consider share buyback on February 3.
 
Adani Group stocks fell after a Hindenburg research report raised concern on valuation and debt. Hidenburg has disclosed that it holds short position in Adani group via US-traded bonds and non-Indian traded derivative instrument. Adani Enterprises (-1.07%), Adani Ports (-6.13%), ACC (-7.18%), Ambuja cements (-6.96%), Adani Green Energy (-2.34%),  Adani Wilmar (-4.99%) and Adani Total Gas (-3.64%) declined sharply today. 
 
Zomato (-7.97%) fell sharply as FIIs sold stakes in the company.
 
In large trades, Tata Steel (+0.54%) 0.7% equity shares changed hands at Rs120.7 per share. 
 
The top gainers and top losers of the major indices are given in the table below:
 
 
The closing values of the major Asian indices are given in the table below:
 
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