Adani Stocks Defy Market Slump as Broader Indices Retreat

Indian equity benchmarks retreated sharply on Friday, snapping a rally fueled by Optimism around US Federal Reserve rate cuts and trade negotiations. The Sensex fell 374 points (0.45%) to 82,639.53 while the Nifty 50 dropped 85 points (0.34%) to 25,338.05, with both indices touching session lows in early trading.

Adani Group stocks bucked the downward trend, surging 1-6% after India's market regulator SEBI dismissed certain allegations from short-seller Hindenburg Research. Adani Enterprises and Adani Ports emerged as top Nifty gainers, while PSU banks led sectoral gains with a 1.5% advance.

Market breadth remained neutral with 1,483 advancing stocks versus 1,446 decliners across 3,042 traded securities. Sector performance was mixed - oil & gas, pharma, metals and realty posted modest gains, while IT, consumer durables and private banks dragged.