The market, which was closed for the Guru Nanak Jayanti holiday on Monday, reacted to the conclusion of the SC hearing on Friday as investors interpreted some of the SC’s observations as its having confidence in Sebi’s investigation pertaining to the Hindenburg report that was released on 24 January.
This led to short-covering and fresh buying in group counters causing a total ₹1.04 trillion rise in the market cap of all 10 listed group companies. The charge was led by flagship Adani Enterprises, the group flagship, whose 8.9% rise contributed ₹22,578 crore to the group level market cap.
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