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  5. SENSEX slides over 550 pts; NIFTY50 hovers around 23,320; Adani Group stocks sink, IT stocks gain

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SENSEX slides over 550 pts; NIFTY50 hovers around 23,320; Adani Group stocks sink, IT stocks gain

Upstox
By Upstox News Desk

2 min read | Updated on November 21, 2024, 09:59 IST

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SUMMARY

At 9:53 AM, the S&P BSE SENSEX was trading at 76,955.60 levels, down 623 points, or 0.80%. The broader NIFTY50 index was trading at 23,305.05, down 213 points, or 0.91%.

Stock list

ADANIENT
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ADANIGREEN
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ADANIENSOL
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SBIN
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The top five gainers on the NIFTY50 index were Infosys, TCS, Wipro, HCLTech, and HDFC Bank.

The top five gainers on the NIFTY50 index were Infosys, TCS, Wipro, HCLTech, and HDFC Bank.

Stock market today: The equity benchmark indices opened with notable cuts on Thursday, November 21, as a crash in Adani Group stocks and weak global cues unnerved market participants.

At 9:53 AM, the S&P BSE SENSEX was trading at 76,955.60 levels, down 623 points, or 0.80%. The broader NIFTY50 index was trading at 23,305.05, down 213 points, or 0.91%.

The top five gainers on the NIFTY50 index were Infosys, TCS, Wipro, HCLTech, and HDFC Bank. The top five losers on the index were Adani Enterprises, Adani Ports, SBI, Dr Reddy's, and BPCL.
Adani Group stocks took a heavy beating in the trade. Shares of conglomerate Adani Group companies, such as Adani Energy Solutions, Adani Total Gas, Adani Green Energy, Adani Power, Adani Enterprises, Adani Ports, and Adani Wilmar, among others, tumbled up to 20% as Gautam Adani, the billionaire chairman of the Adani Group, has been indicted in New York over his role in an alleged multibillion-dollar bribery and fraud scheme. READ MORE

On the other hand, IT stocks were trading with gains. The BSE Information Technology index was trading at 41,638.03 levels, up 0.59%. 

Foreign institutional investors (FIIs) offloaded equities worth ₹3,411.73 crore on Tuesday, according to exchange data.

Broader Market

The BSE MidCap index was trading at 44,313.48 levels, down 317 points, or 0.71%. The BSE SmallCap index was trading 402 points, or 0.77% lower at 52,088.88 points.

Global Markets

Asian equities fell on Thursday after AI darling Nvidia disappointed investors with a subdued revenue forecast, while the dollar firmed and bitcoin hit a record high in anticipation of U.S. President-elect Donald Trump's proposed policies.

Prevailing geopolitical concerns following the escalating conflict in Ukraine earlier this week led safe-haven assets higher, including gold and government bonds.

MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.23%, with tech-heavy Taiwan stocks down 0.5%. Japan's Nikkei fell 0.7%.

(With inputs from Reuters)

About The Author

Upstox
Upstox News Desk is a team of journalists who passionately cover stock markets, economy, commodities, latest business trends, and personal finance.

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