MC A10 Index – a sentimeter of Adani group stocks – closed 0.89 percent higher on March 22 at 39.70, clocking a second day of gains in a row.
The index captures the real-time price movement in all 10 Adani group stocks. The individual companies in A10 have weights in proportion to their total market cap.
Barring Adani Ports and Adani Enterprises, the two Nifty50 stocks, all other Adani stocks closed higher from the previous day. Adani Green Energy and Adani Total Gas were locked in 5 percent upper circuit. Adani Enterprises and Adani Ports closed about 1 percent in the red.
The gains pushed up the cumulative market cap of the Adani group stocks to Rs 9.56 lakh crore from Rs 9.41 lakh crore on March 21.
The group's chairman Gautam Adani has lost $28 billion over the last year - or an average of Rs 3,000 crore per week in 2022. His fortune has dropped by over 60 percent from its peak due to Hindenburg's report, as per the M3M Hurun Global Rich List 2023 published on Wednesday.
On the benchmark, the Nifty erased its losses from the previous day and ended the session 119.10 points or 0.70 percent higher at 17,107.50. The Sensex also topped the 58,000-mark and closed above it.
