All Adani Group Stocks Hit Lower Circuit: Stocks Drop by Up to 20%, Sensex Falls 700 Points; Nifty Down 200 Points
Today, November 21, the share market is witnessing a decline. The Sensex is trading over 700 points down at the 76,800 mark. Similarly, the Nifty has dropped by approximately 200 points and is trading at the 23,300 level.
Out of the 30 Sensex stocks, 25 are trading in the red, while 5 are showing gains. A significant decline is observed in banking and auto stocks today. Shares of Adani Ports are also experiencing a dip, whereas IT stocks are witnessing a rise.
Mixed Performance in Asian Markets
Asian markets are showing a mixed trend today. Japan’s Nikkei is up by 0.83%, and South Korea’s Kospi has gained 0.19%. On the other hand, China’s Shanghai Composite has declined by 0.14%.
On November 20, the US markets closed with varied performances. The Dow Jones Industrial Average rose by 0.32% to close at 43,408, while the S&P 500 increased marginally by 0.002% to end at 5,917. However, the Nasdaq dropped by 0.11% to settle at 18,966.
As per NSE data, Foreign Institutional Investors (FIIs) sold shares worth ₹3,411 crore on November 19, while Domestic Institutional Investors (DIIs) purchased shares worth ₹2,783 crore during the same period.
Fraud and Bribery Allegations Against Gautam Adani in New York
In a hearing at a federal court in New York, Gautam Adani and seven others have been accused of fraud and bribery involving billions of dollars. According to the United States Attorney’s Office, Adani allegedly promised a bribe of $250 million (approximately ₹2,110 crore) to Indian officials to secure contracts related to solar energy.
Adani Group Stocks Plummet Amid Allegations
All 10 Adani Group stocks experienced significant declines following fraud and bribery allegations. Here’s a summary of the stock performance as of 9:20 AM:
| Company | Current Price (₹) | Decline (₹) | Decline (%) |
|---|---|---|---|
| Adani Enterprises | 2,539.35 | 282.15 | 10.00% |
| Adani Ports | 1,160.70 | 128.95 | 10.00% |
| Adani Green Energy | 1,167.95 | 244.75 | 17.32% |
| Adani Total Gas | 584.70 | 87.05 | 12.96% |
| Adani Energy Solutions | 697.25 | 174.30 | 20.00% |
| Adani Power | 456.05 | 68.05 | 12.98% |
| Adani Wilmar | 303.55 | 24.10 | 7.36% |
| Ambuja Cement | 494.60 | 54.95 | 10.00% |
| ACC | 1,967.15 | 218.55 | 10.00% |
| NDTV | 151.40 | 17.39 | 10.30% |
The allegations have severely impacted investor confidence, leading to sharp drops across the board.
NTPC Green Energy IPO: Second Day of Subscription
Today marks the second day of the NTPC Green Energy Limited IPO. On the first day, November 19, the IPO was subscribed 0.36 times overall. Subscription details across categories are as follows:
- Retail Category: Subscribed 1.47 times
- Qualified Institutional Buyers (QIB): No subscription recorded
- Non-Institutional Investors (NII): Subscribed 0.17 times
Due to the Maharashtra Assembly elections, the stock market remained closed on November 20, and bidding could not take place yesterday. Investors can bid for this public issue until November 22.
The company’s shares are scheduled to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on November 27.
Market Gains on November 19
On November 19, the stock market closed with gains. The Sensex rose by 240 points to settle at 77,578, while the Nifty gained 65 points, closing at 23,518.
However, the Sensex saw a significant drop of 873 points from its intraday high. Earlier in the day, the Sensex had surged nearly 1,000 points. Similarly, the Nifty fell 262 points from its peak during the session.
Due to the Maharashtra Assembly elections, the stock market remained closed on November 20.
