Sensex jumps over 1,000 points as most Adani Group stocks rebound sharply

The domestic stock market staged a strong comeback on Friday, with benchmark indices surging during intraday trade, bolstered by a recovery in most Adani Group shares and positive sentiment across key sectors.
The S&P BSE Sensex climbed 1,034.76 points to 78,190.55 by 12:42 pm, while the NSE Nifty50 gained 329.15 points to reach 23,679.05. This sharp rally added approximately Rs 5 lakh crore to the BSE’s total market capitalisation.
Sectoral gains in banking, financials, IT, and energy stocks supported the broader market recovery. Heavyweight stocks like ICICI Bank, State Bank of India (SBI), Reliance Industries (RIL), Infosys, Tata Consultancy Services (TCS), L&T, and Bharti Airtel played a key role in lifting the indices.
Adani Group stocks rebounded sharply after experiencing significant losses earlier in the session and the previous day’s trade. Shares of Ambuja Cements led the recovery with a 6% gain, followed by ACC, which rose nearly 4%.
Flagship Adani Enterprises climbed 2.5%, while other group stocks, including Adani Green Energy, Adani Ports, Adani Power, and Adani Total Gas, advanced between 1% and 2%. However, Adani Energy Solutions remained under pressure, trading 3% lower.
The rebound came after the Adani Group issued a statement dismissing allegations of bribery and fraud against chairman Gautam Adani and senior executives as “baseless.” The accusations, raised by the US Securities and Exchange Commission, pertain to bribery schemes allegedly aimed at advancing the group’s renewable energy projects in India.
Despite the recovery, the group remains under scrutiny. On Thursday, shares of Adani Enterprises hit a 52-week low, plunging 23%, while Adani Energy Solutions and Adani Green Energy tumbled 20% and 19%, respectively.
Additionally, the Kenyan government terminated a $736 million deal with an Adani unit for power transmission lines, citing new findings by investigative agencies.
The ongoing allegations have raised concerns about governance practices and funding access across Adani Group entities, with rating agencies like S&P and Moody’s revising their outlooks on select group firms to reflect heightened risk perceptions.