After several days of fall, Indian stock markets rebounded on Friday with both -- the Sensex of BSE and the Nifty 50 of NSE -- on the positive sides. Curiously, experts attribute the current rebound and the earlier fall to the happenings in the Adani Group.
Shah added the crisis in Adani Group stocks worsened as all 10 stocks faced selling pressure. Since the release of the Hindenburg report on January 25, Adani group stocks have lost 60 per cent of their value.
In the week ended February 10, the rupee lost 0.8 per cent to close at 82.51 per dollar as US jobs data sparked worries of the Federal Reserve raising interest rates for longer than was earlier anticipated.
Naked short selling is not permitted in the Indian securities market and all investors would be required to mandatorily honour their obligation of delivering the securities at the time of settlement.
The absence of global cues, strong macros and expectations of healthy corporate earnings provided the support to domestic equites, said Siddhartha Khemka, its Head - Retail Research.
