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Short-covering, relief rally add ₹7.27 trillion wealth
Mint Mumbai
|November 23, 2024
Markets up 2.39% to hit the highest in six months, a day after Adani's indictment
Indian markets were quick to recover from the shock of the Adani group bribery charges, surging to a nearly six-month high and snapping off a two-week slump on Friday. Investors turned wealthier by ₹7.27 trillion in Friday's relief rally.
The recovery was marked by short-covering and buying in large-cap stocks in sectors like oil and gas, banks, information technology, and fast-moving consumer goods, ahead of the Maharashtra election outcome on Saturday. Analysts said an extended bout of short-covering could propel the indices higher.
Cette histoire est tirée de l'édition November 23, 2024 de Mint Mumbai.
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