Sensex, Nifty end higher as Adani stocks rally up to 20%
India TodayBenchmark stock market indices closed higher on Wednesday as they made a brief rally driven by a surge in Adani group shares after the conglomerate issued a clarification on the bribery charges by US authorities. "This recovery followed a clarification from Adani Green Energy Ltd regarding recent allegations of bribery and corruption against key executives, including Gautam Adani and his nephew Sagar Adani," said Vaibhav Vidwani, Research Analyst, Bonanza. CA Jashan Arora, Wholetime Director & Promoter, Master Trust Group, said that the Adani group stocks have been more volatile particularly due to regulatory scrutiny and investor's sentiments. Adani Total Gas Ltd rose 20% to Rs 695.30, Adani Wilmar Ltd increased 8.27% to Rs 314.60, and Adani Ports and Special Economic Zone posted a gain of 5.90%, rising to Rs 1,195.50 per share.