Indian stock markets closed in the red on November 21 as Adani Group stocks plummeted on bribery allegations. The benchmark Sensex dropped 423 points, while Nifty slipped below the 23,400 mark. Negative cues from foreign institutional investors (FIIs) added to the selling pressure.

Key Highlights:

  • FII Activity: Net selling by FIIs stood at ₹5,320 crore.
  • DII Activity: Domestic Institutional Investors (DIIs) stepped in with net buying of ₹4,200 crore, resulting in a net sell-off of ₹1,120 crore.

Market Performance:

  • Sensex: Closed at 77,155.79, down 423 points (-0.54%).
  • Nifty 50: Closed at 23,349.90, down 168.60 points (-0.72%).

Top Losers on Nifty:

  1. Adani Enterprises
  2. Adani Ports
  3. SBI Life Insurance
  4. Britannia Industries
  5. State Bank of India (SBI)

Top Gainers on Nifty:

  1. Power Grid Corp
  2. UltraTech Cement
  3. Hindalco Industries
  4. Tata Steel
  5. Grasim Industries

Sectoral Performance:

  • Decliners:
    • Energy, FMCG, Oil & Gas, PSU Banks, Media, and Metals sectors fell between 1-2%.
  • Gainers:
    • Realty sector gained 1%, and IT sector rose 0.5%.

Broader Markets:

  • The BSE Midcap index slipped 0.3%.
  • The BSE Smallcap index fell 0.6%.

The sharp correction in Adani Group stocks due to legal issues weighed heavily on market sentiment, dragging key indices lower despite support from domestic investors.

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